Saudi Arabia topped the Gulf project market in the second quarter of this year, with the number of projects growing over 160% compared to the previous quarter, underscoring the resilience of the Saudi economy amid the economic repercussions of the Iranian war.

In its latest report, Kamco Invest revealed that Saudi Arabia awarded contracts worth $30 billion during the three months ending in June, representing a 160.4% increase compared to the preceding three months.

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On an annual basis, the value of awarded projects in Saudi Arabia rose by 53.6%, confirming the resilience of various sectors and their continued momentum under the Vision 2030 initiatives.

According to the report, Saudi Arabia was the only Gulf Cooperation Council country that recorded an increase in total awarded projects, both on a quarterly and annual basis. The report added: "The construction and building sector was the main driver of this broad recovery, recording a 184.4% year-on-year increase in the value of awarded contracts, reaching $14.2 billion, compared to $5 billion in the second quarter of 2025, followed by the gas sector, which rose from $800 million in the second quarter of 2025 to $4.4 billion in the second quarter of 2026."