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MEED Report: Saudi Arabia Projects Market
Saudi Arabia Projects Market
Saudi Arabia is undergoing a major economic transformation under Vision 2030, with the government seeking to diversify the economy beyond hydrocarbons, stimulate private-sector growth and position the Kingdom as a global investment hub. This has driven significant investment across non-oil sectors, supported by structural reforms, investment incentives and the Public Investment Fund (PIF), which plays a key role in financing strategic investments and mega-projects.
Saudi Arabia’s construction sector sees cancellations surge as new awards slowdown in 2026
Saudi Arabia’s construction contracts market is showing a mixed picture through the first eight months of 2026, according to the latest MEED Projects data. Newly awarded contracts totaled $61,142m year-to-date (January–August), down 14% compared to the same period in 2025, when awards reached $71,091m.
At the same time, contracts placed on hold climbed sharply to $27,418m, a 77% jump from $15,432m in the equivalent 2025 period while cancelled contracts rose 55% year-on-year to $40,913m, up from $26,413m.
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To find more free resources, download our MEED Webinar Presentation: The Saudi Giga Projects March 2026