By Staff writer
Kingdom's pipeline of projects accounts for 39% of the GCC total.
Main construction contracts for over $250bn ($917bn) worth of projects have not been awarded in Saudi Arabia, according to a new report.
Middle East Economic Digest (Meed), in its Saudi Arabia 2017: Delivering Vision 2030 report, said the kingdom’s pipeline of unawarded projects accounts for 39 percent of the GCC total.
The sector where most contracts haven’t been awarded is energy ($82bn). Power, construction and transport sectors account for $225bn of unplaced contracts, comprising 89 percent of the total value of contracts at the pre-execution stage.
Overall, Saudi Arabia has awarded more than $370bn-worth of contracts across all sectors since 2010, with about $252bn-worth of projects in the tender or design phase, the report said.