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Saudi contracting awards more than tripled in value in October, with 23 projects worth SAR 24.65 bn awarded, up from nine projects worth SAR 7.8 bn a month earlier, according to the Saudi Contractors Authority (SCA) (pdf). October was the third-biggest month of the year by value, behind May’s SAR 30 bn and June’s SAR 29.5 bn.
REMEMBER- August awards totaled SAR 4.86 bn, down 50% by value from July’s SAR 9.6 bn. The number of projects awarded last month was the highest since June’s, when 25 projects were awarded, compared with 11 in July, 13 in August, and 9 in September.
October’s project awards were heavily concentrated in oil and gas, which dominated the value of contracts awarded during the month. The sector accounted for SAR 17.4 bn of October’s awards, or roughly 71% of total value, despite representing eight projects. Buildings led by volume, with nine awards worth SAR 3.8 bn, while infrastructure accounted for three projects worth SAR 2.2 bn. Power and water and industrial projects made up the remaining two and one awards, respectively.
The geographic split was similarly concentrated: The Eastern Province took 12 projects, or 52% of the month’s total, worth SAR 18.9 bn, nearly four times Riyadh’s SAR 4.8 bn across five projects. The Eastern Province’s awards were primarily oil and gas, which accounted for 72.73% of its projects, with buildings and industrial work making up the remainder. Riyadh’s pipeline, meanwhile, was split between buildings (60%) and infrastructure (40%).
Aramco led project owners by value, with six awards worth SAR 13.1 bn, ahead of Al Khafji Joint Operations’ SAR 3.99 bn and the Royal Commission for Riyadh City’s SAR 2 bn across two projects. Center3 and Humain followed with a SAR 1.8 bn data center project, while Yokogawa Engineering Middle East & Africa FZE rounded out the top five with SAR 750 mn.
What’s next: The authority expects 10 new awards this month, more than half in buildings and construction and roughly half concentrated in Riyadh and the Eastern Province. Potential project owners include the Saudi Arabian Football Federation, the Royal Commission for Riyadh City, Aramco, PIF and Expo 2030 Riyadh Company.
