FINANCIAL NEWS

Saudi granted contracts value hits USD15.26b in Q1

04 Jun 2015

(MENAFN) Saudi Arabia has granted contracts worth USD15.26 billion in the first quarter of the year, picking up on its fast-paced, efficient momentum tracked in the fourth quarter, Arab News reported.

Despite the great progress, a marginal decrease of 7 percent was recorded from the previous quarter. Healthcare was the prime contributor with USD3.99 billion, followed by residential real estate with USD3.19 billion.

The industrial sector’s contribution amounted to USD1.59 billion, according to a report by the National Commercial Bank, which additionally noted that Riyadh enjoyed the most share of the value of awarded contracts.

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