A report issued by the Saudi-American Business Council revealed a significant increase in Saudi construction sector activity during the year 2022. As the value of contracts returned to pre-pandemic levels; Explaining the increase in the value of contracts awarded during the last quarter of last year, to 71.5 billion Saudi riyals ($19.1 billion), an increase of 37 percent over the comparative period of 2021.
This represents the highest value of contracts awarded in a quarter in nearly seven years, when the value reached 88.1 billion Saudi riyals ($23.6 billion) in the first quarter of 2015. Significant growth in the last quarter of 2022 has led to increased The total value of contracts awarded in 2022 reached 192.4 billion Saudi riyals ($51.3 billion), which reflects an increase of 35 percent over 2021.
