Saudi Arabia takes part in Ministerial Meeting in New York in support of Yemeni government    Saudi Arabia is keen on continue working with US Princess Reema attends inauguration of President Trump    Saudi FM meets Libyan PM in Davos    Saudi Arabia congratulates Trump; lauds distinguished relations with US    Arcapita & Parkway invest in a portfolio of high-growth Artificial Intelligence companies    "Dar wa Emaar" generates more than SR900 million in sales of "Tala al Khuzam" units within 2 months Unique housing and investment opportunity in north Riyadh    Saudi Aramco chief expects oil demand to rise by 1.3 million bpd this year    Saudi Minister of Economy and Planning meets with Schneider Electric chairman in Davos    Trump makes 'two genders' and anti-DEI policy official    Princess Hessa bint Salman attends launch of fashion design exhibition in Riyadh Princess Noura Al-Faisal: Art of Heritage showcases Saudi identity with a modern vision    Mexican border town declares state of emergency as Trump pledges mass deportations    Trump vows to leave Paris climate agreement    Trump declares border emergency and scraps asylum app in immigration crackdown    Weight-loss drugs may boost health in many ways    Interior ministry introduces drone to enhance road security    Sir Anthony Hopkins mesmerizes Riyadh with his first live musical performance 'Life Is A Dream'    Yazeed Al-Rajhi wins Dakar Rally 2025: A historic first for Saudi Arabia    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Al Ittihad secure 4-1 victory over Al Raed to maintain pressure on Al Hilal in RSL title race    Marcos Leonardo shines with hat-trick as Al Hilal thrash Al Fateh 9-0 to equal RSL record    Saudi's first pro boxer Ziyad Almaayouf set for monumental Riyadh return during Riyadh Season    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi contracts rise 101% to $30 billion in H1 2019
The Saudi Gazette Published in The Saudi Gazette on 17 - 09 - 2019

Contracts worth $17.2 billion (SR64.3 billion) were awarded in Saudi Arabia during Q2 2019 – marking a 32% hike over Q1 2019 figures – with H1 2019 contract awards in Saudi Arabia valued at $30.2 billion (SR113.2 billion), 101% higher than H1 2018 figures, according to US-Saudi Arabian Business Council's (USSABC) Contract Awards Index for the second quarter of 2019, which found that the oil and gas segment led all sectors with contract awards worth $12.7 billion (SR47.7 billion), followed by real estate and military with contracts respectively worth $1.4 billion (SR5.1 billion) and $835m (SR3.1 billion) as published in the latest issue of Construction Week Online.
Q2 2019 marks the highest value of awarded contracts by quarter since Q2 2015, when awarded contracts were valued at $17.4 billion (SR64.9 billion).
USSABC's Contract Awards Index reached 238.67 points during Q2 2019, reflecting the highest mark since March 2016.
For the second consecutive quarter, the Eastern Province and Makkah regions contributed the largest share of awarded contracts, constituting 77% and 13% of awarded contracts respectively.
In the Eastern Province the largest contracts were in awarded in the oil and gas, transportation, water, power, and real estate sectors, while in Makkah, the largest contracts were awarded in the military, industrial, and real estate sectors.
May 2019 was the slowest month for contract awards in Saudi Arabia, when values reached $1.9 billion (SR7.2 billion), with June being the most valuable month with contract awards worth $12.7 billion (SR47.8 billion).
In the real estate sector during Q2 2019, the residential segment alone saw contracts worth $1 billion (SR3.9 billion), USSABC said. In the military sector, Makkah's largest contract for Q2 2019 – worth $800m (SR3 billion) – was awarded by Saudi Arabia's Ministry of Defence. The industrial sector noted contract growth with awards to India's Larsen & Toubro (L&T) and Finland's Outotec for the Mansourah-MasSRah Gold Mine project by Saudi Arabian Mining Company's (Ma'aden) subsidiary Gold and Base Metals Company. — SG

Clic here to read the story from its source.