Awarded contracts in KSA decreases in Q1

Value of awarded contracts in KSA reaches SR27.9bn

In Saudi Arabia, the total value of awarded contracts amounted to SR27.9 billion in the first quarter of 2016, decreasing 39 percent when compared to the same period of 2015, reports Zawya. 

The main contributing sectors in Q1 2016 were and gas, which has accounted for 47 percent of the total value of awarded contracts to reach SR13 billion, followed by hospitality at SR5.9 billion (21 percent), and residential real estate SR4.6 billion (16 percent). While many of the projects already awarded are likely to proceed, they may be scaled down or rescheduled execution over an extended period. However, the government will continue to spend on social and physical infrastructure projects.