Saudi Arabia awarded four major construction contracts in February 2026 with a combined value exceeding SAR 2.8 billion, with two landmark Diriyah projects topping the list, according to the Saudi Contractors Authority’s monthly report released this week.
Diriyah Commands the Top Two Slots
The largest single contract awarded in February was the SAR 1.316 billion deal for the Iconic Museum within Phase 2 of the Diriyah Project, commissioned by the Diriyah Gate Development Authority in partnership with the Public Investment Fund. Directly behind it was a SAR 1.2 billion contract for Hotel 1 in the Diriyah Media and Innovation District, also issued by the Diriyah Gate Development Authority.
Together, the two Diriyah contracts account for more than SAR 2.5 billion of February’s total — a reflection of the extraordinary scale and pace at which Saudi Arabia is transforming the historic Diriyah district into a world-class destination blending heritage, hospitality, and cultural innovation. The construction sector as a whole represented approximately 50 percent of the month’s total project count, claiming the largest sectoral share.
Water, Energy, and Madinah in the Mix
The remaining two contracts in February spanned the water and energy sectors. Saudi Energy Company received a SAR 160.13 million contract for the replacement of underground cable circuits in Riyadh, while the National Water Company was awarded SAR 133.13 million for the operation and maintenance of water networks and related facilities in Madinah. Both contracts reinforce Saudi Arabia’s sustained focus on upgrading essential urban infrastructure across multiple regions simultaneously.
All four projects are expected to be executed over approximately two years. Three of them are scheduled for delivery in 2028 at a combined value exceeding SAR 2 billion, while the fourth is earmarked for completion in 2029 at a value of over SAR 133 million.
16 More Projects Expected in March
The Saudi Contractors Authority’s report indicates that around 16 projects are expected to be awarded to contractors in March 2026, with more than half concentrated in the construction, water, and energy sectors. Approximately half of these upcoming contracts are expected to be located in Riyadh, Makkah, and the Eastern Region.
In total, nine construction contracts have been awarded so far in 2026, with a combined value approaching SAR 14.6 billion — a figure that speaks to the relentless momentum of Saudi Arabia’s infrastructure and giga-project delivery pipeline as Vision 2030 enters its most intensive execution phase.
