RIYADH: Saudi Arabia awarded over SR15.6 billion ($4.2 billion) in contracts in March, up about 458 percent month on month, marking the strongest activity this year.
The value and number of contracts both climbed to their highest levels in 2026 so far, according to data from the Saudi Contractors Authority, with March outpacing activity in January and February.
The surge in contract awards reflects sustained momentum in Saudi Arabia’s construction sector, driven by large-scale infrastructure and real estate developments under Vision 2030, as the Kingdom continues to accelerate project delivery across key urban and economic hubs.
Building and construction projects dominated the awards, accounting for nine of the 11 contracts and the bulk of total value at more than SR15.5 billion. Power and water projects made up the remaining two awards, with a combined value exceeding SR150 million.
By segment, educational facilities led contract value at over SR3.9 billion, followed by commercial developments worth more than SR3.7 billion. Other projects spanned hospitality, mixed-use developments and infrastructure, indicating a diversified pipeline of construction activity.
Geographically, Riyadh Province accounted for nine projects, representing 82 percent of the total, and captured the bulk of investment value at over SR15 billion.
Makkah and Najran recorded one initiative each, both within the Power and Water segment.
Major project owners included National Housing Co., Talaat Moustafa Group Holding and Al Muhaidib Group, which together accounted for the largest share of awarded value. Other entities involved in March awards included Diriyah Gate Development Authority, Qiddiya Investment Co., National Grid SA and Najran Cement Co.
Among the largest projects awarded during the month were phases of the Dahiyat AlFursan development in Riyadh, hospitality components within the Diriyah project, and entertainment infrastructure in Qiddiya City. Power-related contracts included a substation project in Madinah and a grid interconnection project in Najran.
The awarded projects are scheduled for delivery over a multi-year horizon, with the majority of value concentrated in projects expected to be completed by 2032, while smaller portions are set for completion between 2026 and 2030.
The contracts were tracked through the SCAVO platform, which monitors project activity across Saudi Arabia’s contracting sector and provides visibility into upcoming opportunities.
Looking ahead, around 18 contracts are expected to be awarded in April, with more than half in the construction sector and about half concentrated in Madinah and the Eastern Province, the report said.
Major entities expected to offer projects include the Ministry of Transport, Roads General Authority, Rua Al Madinah Holding, Saudi Water Partnership Co., Saudi Aramco and the Public Investment Fund.
