Saudi gigaprojects gear up for $569bn of contract awards – MEED

Saudi gigaprojects gear up for $569bn of contract awards – MEED

The total announced value of planned expenditure on the 15 known gigaprojects is about $719bn

Saudi Arabia’s gigaprojects are ramping up to award $569bn worth of contracts between 2021 and 2025.

According to MEED’s Saudi Gigaprojects report, the total will be a step change for the regional projects market as it will dwarf the $172bn worth of work awarded in the previous five-year period between 2016 and 2021 and would be more than double the previous record of $281bn reached between 2011 and 2015.“There has been a substantial acceleration in contract awards on the gigaproject programme over the past two years as projects move from the design stage to execution with contractors working on the ground,” says Ed James, Head of Content & Research, Middle East & Africa, MEED.