Saudi Arabia leads the Gulf projects market in the second quarter with a growth of 160%
Saudi Arabia topped the Gulf projects market in the second quarter of this year, with growth in the number of projects exceeding 160% compared to the previous quarter, which proves the resilience of the Saudi economy in light of the economic repercussions of the Iranian war.
In its latest report, “Kamco Invest” revealed that Saudi Arabiaawarded contracts worth $30 billion during the three months ending in June, representing an increase of 160.4% compared to the previous three months.
On an annual basis, the value of projects awarded in Saudi Arabia increased by 53.6%, which confirms the flexibility of the various sectors and their continued momentum within the framework of Vision 2030 initiatives.
According to the report, the Kingdom of Saudi Arabia was the only country in the The Gulf Cooperation Council recorded an increase in the total number of projects awarded, whether in a quarterly or annual comparison.
The report added: "It was a Construction and construction is the main driver of this broad recovery, recording a 184.4% year-on-year rise in the value of contracts awarded, to $14.2 billion, compared to $5 billion in the second quarter of 2025, followed by the gas sector, which rose from $800 million during the second quarter of 2025 to $4.4 billion in the second quarter of 2026."
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