Saudi Arabia awards $33 billion in projects over nine months
Saudi Arabia awarded 99 projects worth $33 billion in nine months of 2026, according to the Saudi Contractors Authority. Nearly half the value came in May and June.
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what happened
Saudi Arabia awarded 99 projects worth about 123 billion riyals ($33 billion) in the first nine months of 2026, Reuters reported, citing the monthly bulletin of the Saudi Contractors Authority (SCA). That works out to roughly $3.6 billion a month.
Nearly half the value landed in May and June, around 60 billion riyals, while June saw the highest count of public awards at 25. In September, Acwa won nine projects worth about 7.7 billion riyals and was the largest beneficiary of the month.
why it matters
Large contracts in energy, construction and water suggest the Vision 2030 diversification program is still moving ahead and drawing capital. For markets, this points to state spending staying high beyond the oil sector, although the volume of awards varies widely from month to month.
market impact
Acwa and Saudi Aramco: steady state contract flow supports construction and energy projects in Saudi Arabia
tags
instruments
sources
- Saudi Arabia awards $33bln projects in 9 months — Reuters, 22 October 2026 at 04:25 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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