{"id":98873,"date":"2025-07-20T00:00:00","date_gmt":"2025-07-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/project-awards-stumble-in-2q\/"},"modified":"2025-07-20T00:00:00","modified_gmt":"2025-07-20T00:00:00","slug":"project-awards-stumble-in-2q","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/20\/project-awards-stumble-in-2q\/","title":{"rendered":"Project awards stumble in 2Q"},"content":{"rendered":"

The Kingdo<\/strong>m saw a <\/strong>s<\/strong>teep drop in project activity in 2Q 2025<\/strong>, with the total value of awarded contracts falling 72.5% y-o-y to USD 9.8 bn, down from USD 35.6 bn, according to Kamco Invest\u2019s quarterly GCC Projects Market Update report (pdf)<\/a>. The Kingdom\u2019s share of total GCC project awards shrank to 34.5% during the second quarter, compared to 52.6% in 2Q 2024.<\/p>\n

By sector:<\/strong> The transport sector came on top with USD 3 bn in awarded contracts in 2Q, overtaking the construction sector, which dropped nearly 60% y-o-y to USD 2.3 bn. The water sector came in next at USD 2.5 bn, while the oil sector recorded no new contracts during the quarter, compared to USD 1.7 bn a year earlier.<\/p>\n

Despite the slowdown, the Kingdom sealed some headline-grabbing contracts. <\/strong>The largest was a USD 2 bn reservation agreement with General Electric and GE Vernova, which includes the supply of US-made gas turbines<\/a>, synchronous condensers, and power equipment for the Saudi Electricity Company, along with a maintenance collaboration with Aramco. On the residential front, a USD 378 mn contract in Al Khobar and a USD 131 mn<\/a> Sidra project contract in Riyadh kept the residential sector moving.<\/p>\n

All eyes on 2H 2025: <\/strong>Kamco Invest expects the Kingdom to lead a regional rebound project activity, backed by the region\u2019s largest pre-execution pipeline \u2014 USD 873.2 bn or more than half the GCC\u2019s total. Key projects in the pipeline include the USD 80 bn Care nuclear reactor and a USD 10 bn battery energy storage system currently in design and FEED stages.<\/p>\n

The regional picture: <\/strong>GCC-wide project awards dropped 58% y-o-y to USD 28.4 during the quarter \u2014 the lowest in over three years \u2014 with all countries posting declines except for Qatar. Across the GCC, the full pipeline of planned but unawarded projects currently stands at USD 1.7 tn.<\/p>\n

REMEMBER- <\/strong>Contract awards in the Kingdom were also down 49.9% y-o-y at USD 17 bn in<\/a>1Q 2025<\/a>, lowering the Kingdom\u2019s share of total GCC awards to 32.4%, compared to 47.4% a year earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Kingdom holds over half of the GCC\u2019s unawarded project pipeline<\/p>\n","protected":false},"author":1,"featured_media":98874,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2616],"tags":[142,10,381,2891,66,31,51],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-construction","tag-enterpriseam-ksa","tag-gcc","tag-housing","tag-infrastructure","tag-investment-watch","tag-transport","wpautop","entry"],"acf":{"mongo_id":"8df00c9f-ff50-46ab-82d2-30cdd0d90d82","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/6\/1658.jpg","photo_position":"above","homepage_title":"","full_issue_title":"project awards drop 73% to USD 9.8 bn in 2Q 2025","related_issue":[98863],"teaser":"The Kingdom holds over half of the GCC\u2019s unawarded project pipeline","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.760c8f94-a5c5-4600-8c9e-df62d75286de.mp3"},"yoast_head":"\nProject awards stumble in 2Q - 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