A Menacon data product
Updated monthlyWinning bid value of Etimad tenders, by month of publication — a monthly read on how fast the Saudi state is commissioning, built from Etimad tender records.
Data through 2 October 2026, published 3 October 2026
This month
SAR 4.1bn
September 2026 · Menacon estimate
vs September 2025
−36%
Both months, Menacon estimate
Year to date · Jan–Sep 2026
+61%
vs Jan–Sep 2025
Click any column to see inside that month ↓
Inside the month
July 2025
SAR 10.7bn
Settled: all 3,628 awards from this month are in.
Open competition
93% SAR 10.0bn
Other routes
5% SAR 500m
Direct purchase
2% SAR 240m
Direct purchase is the majority of tenders and a sliver of the money.
Restaurant Activities and Catering Services
34% SAR 3.6bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
19% SAR 2.0bn
Information Technology
9% SAR 993m
Trade of new spare parts
7% SAR 757m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
4% SAR 432m
General construction contracts (construction and building public facilities) - General constructions
4% SAR 382m
All other sectors
23% SAR 2.5bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
August 2025
SAR 9.3bn
Settled: all 3,070 awards from this month are in.
Open competition
97% SAR 9.0bn
Other routes
2% SAR 168m
Direct purchase
1% SAR 93m
Direct purchase is the majority of tenders and a sliver of the money.
Unclassified
32% SAR 3.0bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
26% SAR 2.4bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
9% SAR 852m
Information Technology
7% SAR 674m
General Construction Contracts (Construction and Building Public Facilities) - Road Construction
4% SAR 359m
Trade of tools, machinery, and devices
3% SAR 260m
All other sectors
18% SAR 1.7bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
September 2025
SAR 6.5bn
Settled: all 2,780 awards from this month are in.
Open competition
95% SAR 6.1bn
Other routes
4% SAR 247m
Direct purchase
1% SAR 87m
Direct purchase is the majority of tenders and a sliver of the money.
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
38% SAR 2.5bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
16% SAR 1.1bn
Information Technology
9% SAR 558m
Security and Safety Activities
5% SAR 306m
Food Materials Trade
5% SAR 298m
Transportation and Storage Activities
4% SAR 234m
All other sectors
24% SAR 1.6bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
October 2025
SAR 3.3bn
Settled: all 2,733 awards from this month are in.
Open competition
96% SAR 3.1bn
Other routes
2% SAR 61m
Direct purchase
3% SAR 83m
Direct purchase is the majority of tenders and a sliver of the money.
Information Technology
21% SAR 686m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
18% SAR 597m
Security and Safety Activities
8% SAR 253m
General construction contracts (construction and building public facilities) - General constructions
5% SAR 178m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
5% SAR 162m
General contracting for buildings (construction, repair, demolition, restoration)
4% SAR 144m
All other sectors
38% SAR 1.2bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
November 2025
SAR 5.1bn
62% of this has been confirmed so far; the rest is estimated from the 3,482 tenders the month published.
Open competition
95% SAR 4.9bn
Other routes
3% SAR 165m
Direct purchase
2% SAR 90m
Direct purchase is the majority of tenders and a sliver of the money.
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
28% SAR 1.4bn
Information Technology
14% SAR 727m
General contracting for buildings (construction, repair, demolition, restoration)
7% SAR 371m
Electricity, Gas, Water, Steam, and Air Conditioning Supply
7% SAR 340m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
7% SAR 337m
Insurance Activities
6% SAR 299m
All other sectors
32% SAR 1.6bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
December 2025
SAR 4.2bn
58% of this has been confirmed so far; the rest is estimated from the 2,975 tenders the month published.
Open competition
96% SAR 4.0bn
Other routes
3% SAR 113m
Direct purchase
1% SAR 60m
Direct purchase is the majority of tenders and a sliver of the money.
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
20% SAR 820m
Information Technology
16% SAR 680m
Restaurant Activities and Catering Services
12% SAR 495m
General contracting for buildings (construction, repair, demolition, restoration)
6% SAR 231m
Electricity, Gas, Water, Steam, and Air Conditioning Supply
4% SAR 166m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
4% SAR 149m
All other sectors
39% SAR 1.6bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
January 2026
SAR 3.1bn
54% of this has been confirmed so far; the rest is estimated from the 3,117 tenders the month published.
Open competition
95% SAR 3.0bn
Other routes
3% SAR 96m
Direct purchase
2% SAR 74m
Direct purchase is the majority of tenders and a sliver of the money.
General construction contracts (construction and building public facilities) - General constructions
29% SAR 898m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
10% SAR 310m
Information Technology
9% SAR 287m
Trade of tools, machinery, and devices
4% SAR 122m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
4% SAR 118m
Trade in building materials and electrical and sanitary tools
3% SAR 108m
All other sectors
41% SAR 1.3bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
February 2026
SAR 2.7bn
41% of this has been confirmed so far; the rest is estimated from the 3,576 tenders the month published.
Open competition
92% SAR 2.5bn
Other routes
5% SAR 124m
Direct purchase
3% SAR 82m
Direct purchase is the majority of tenders and a sliver of the money.
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
17% SAR 459m
Information Technology
15% SAR 400m
Security and Safety Activities
6% SAR 149m
General contracting for buildings (construction, repair, demolition, restoration)
5% SAR 140m
Trade of new spare parts
4% SAR 110m
General construction contracts (construction and building public facilities) - General constructions
4% SAR 108m
All other sectors
49% SAR 1.3bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
March 2026
SAR 3.3bn
37% of this has been confirmed so far; the rest is estimated from the 3,164 tenders the month published.
Open competition
94% SAR 3.1bn
Other routes
4% SAR 116m
Direct purchase
2% SAR 69m
Direct purchase is the majority of tenders and a sliver of the money.
Information Technology
20% SAR 639m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
11% SAR 363m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
6% SAR 196m
General contracting for buildings (construction, repair, demolition, restoration)
6% SAR 186m
Trade of new spare parts
5% SAR 160m
Security and Safety Activities
4% SAR 123m
All other sectors
49% SAR 1.6bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
April 2026
SAR 7.3bn
65% of this has been confirmed so far; the rest is estimated from the 4,187 tenders the month published.
Open competition
95% SAR 7.0bn
Other routes
3% SAR 241m
Direct purchase
1% SAR 98m
Direct purchase is the majority of tenders and a sliver of the money.
Restaurant Activities and Catering Services
20% SAR 1.5bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
18% SAR 1.3bn
Information Technology
15% SAR 1.1bn
Trade of new spare parts
7% SAR 480m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
5% SAR 399m
Security and Safety Activities
3% SAR 183m
All other sectors
32% SAR 2.3bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
May 2026
SAR 5.4bn
41% of this has been confirmed so far; the rest is estimated from the 2,609 tenders the month published.
Open competition
96% SAR 5.2bn
Other routes
3% SAR 139m
Direct purchase
1% SAR 53m
Direct purchase is the majority of tenders and a sliver of the money.
Information Technology
25% SAR 1.4bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
14% SAR 771m
Leasing Services
8% SAR 444m
Maintenance and repair services for devices, equipment, and machines
5% SAR 280m
Trade of tools, machinery, and devices
4% SAR 232m
Trade of new spare parts
4% SAR 209m
All other sectors
39% SAR 2.1bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
June 2026
SAR 5.5bn
13% of this has been confirmed so far; the rest is estimated from the 2,518 tenders the month published.
Open competition
95% SAR 5.3bn
Other routes
4% SAR 205m
Direct purchase
1% SAR 50m
Direct purchase is the majority of tenders and a sliver of the money.
Information Technology
25% SAR 1.4bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
13% SAR 720m
Trade of new spare parts
6% SAR 349m
Security and Safety Activities
6% SAR 308m
General contracting for buildings (construction, repair, demolition, restoration)
4% SAR 234m
Trade in building materials and electrical and sanitary tools
3% SAR 172m
All other sectors
43% SAR 2.3bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
July 2026
SAR 5.9bn
6% of this has been confirmed so far; the rest is estimated from the 2,773 tenders the month published.
Open competition
96% SAR 5.7bn
Other routes
3% SAR 157m
Direct purchase
1% SAR 60m
Direct purchase is the majority of tenders and a sliver of the money.
Information Technology
19% SAR 1.1bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
16% SAR 955m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
6% SAR 364m
General contracting for buildings (construction, repair, demolition, restoration)
6% SAR 359m
Trade of new spare parts
5% SAR 298m
Unclassified
4% SAR 249m
All other sectors
43% SAR 2.6bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
August 2026
SAR 5.3bn
1% of this has been confirmed so far; the rest is estimated from the 2,619 tenders the month published.
Open competition
95% SAR 5.1bn
Other routes
4% SAR 193m
Direct purchase
1% SAR 55m
Direct purchase is the majority of tenders and a sliver of the money.
Information Technology
19% SAR 1.0bn
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
14% SAR 765m
Trade of new spare parts
8% SAR 408m
General contracting for buildings (construction, repair, demolition, restoration)
5% SAR 273m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance of Roads
4% SAR 210m
Trade of tools, machinery, and devices
3% SAR 158m
All other sectors
46% SAR 2.5bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Inside the month
September 2026
SAR 4.1bn
<1% of this has been confirmed so far; the rest is estimated from the 2,139 tenders the month published.
Open competition
96% SAR 4.0bn
Other routes
3% SAR 132m
Direct purchase
1% SAR 51m
Direct purchase is the majority of tenders and a sliver of the money.
Information Technology
18% SAR 748m
Operation, Maintenance, and Cleaning of Facilities - Operation and Maintenance
12% SAR 505m
Electricity, Gas, Water, Steam, and Air Conditioning Supply
6% SAR 245m
Trade of new spare parts
5% SAR 215m
Automobile, Equipment, and Machinery Trade
5% SAR 192m
Trade of tools, machinery, and devices
5% SAR 191m
All other sectors
49% SAR 2.0bn
Splits are estimated on the same basis as the bar, not counted from what has settled. How this is calculated
Awards land over many months, so every bar in the shaded band is a Menacon estimate of where that month ends up; the mark across a bar is how much has been confirmed so far. The last fully settled month, October 2025, closed at SAR 3.3bn. Source: Etimad, Menacon analysis.
| Month published | Confirmed value (SAR bn) | Estimated final value (SAR bn) | Tenders awarded so far | Estimated final award count | Status |
|---|---|---|---|---|---|
| Jul 2025 | 10.70 | — | 3,628 | — | Complete |
| Aug 2025 | 9.29 | — | 3,070 | — | Complete |
| Sep 2025 | 6.46 | — | 2,780 | — | Complete |
| Oct 2025 | 3.26 | — | 2,733 | — | Complete |
| Nov 2025 | 3.17 | 5.11 | 2,048 | 2,211 | Provisional |
| Dec 2025 | 2.40 | 4.17 | 1,562 | 1,811 | Provisional |
| Jan 2026 | 1.68 | 3.13 | 1,686 | 1,946 | Provisional |
| Feb 2026 | 1.11 | 2.68 | 1,838 | 2,206 | Provisional |
| Mar 2026 | 1.22 | 3.27 | 1,507 | 1,876 | Provisional |
| Apr 2026 | 4.76 | 7.32 | 2,113 | 2,598 | Provisional |
| May 2026 | 2.25 | 5.43 | 1,275 | 1,608 | Provisional |
| Jun 2026 | 0.70 | 5.51 | 1,080 | 1,561 | Provisional |
| Jul 2026 | 0.37 | 5.92 | 932 | 1,732 | Provisional |
| Aug 2026 | 0.06 | 5.30 | 552 | 1,628 | Provisional |
| Sep 2026 | 0.00 | 4.13 | 95 | 1,338 | Provisional |
This month's reading
August 2026 vintage · latest written
The index reading and what changed behind it.
Every tender published on Etimad is grouped by the month it was published, not the month it was awarded. The value shown is the winning bid of those that have since been awarded. Grouping by publication is what makes this a read on commissioning tempo rather than on paperwork throughput.
A tender is awarded months after it is published, so the newest months are always understated and revise upward. About 62% of published tenders are eventually awarded, and the large ones settle last — a month takes far longer to reach its final value than the three to six months the sector assumes. That is why the headline above is an estimate rather than a count.
How much later depends on how the work was bought. Two months after publication, direct purchases have about 41% of their eventual value confirmed and open competitions have 2%. Reading a recent month by what has landed in it therefore describes the order the paperwork arrives in, not the market.
Each month is anchored on the tenders it published — a count that is known the moment the month ends and never revises. The estimate is what has been confirmed so far, plus what those published tenders are still expected to be worth. It is the Bornhuetter-Ferguson method from insurance reserving: it leans on how big the month was while the month is young, and converges on the observed figure as awards land. It never divides by the completion share, which is what stops a single early award in a fresh month implying a record-breaking total.
A published tender is not priced at the market average. It is priced by the agency that published it and the route it was bought through, from what that agency's tenders have historically been worth once settled. Most agencies publish too little for their own history to be trusted, so each one is weighted against the market average in proportion to how much evidence it has — the credibility weighting used in insurance pricing. Each route is then developed on its own curve, and the month is the sum of its parts.
Selecting a column decomposes it by route and by sector. Those shares are estimated on the same basis as the bar, not counted from what has settled — a counted split would report every recent month as mostly direct purchase, which is true of the tenders and false of the money. Direct purchase is roughly 65% of tenders published and 1–2% of value awarded.
Sectors come from Etimad's own activity classification, one per tender. The six largest by estimated value are named and the remainder is pooled, so the parts always sum to the month above them.
The record begins in July 2025, so only July has a counterpart twelve months earlier — that single month is the year-over-year reading beside the latest month, and it sets an estimate against a settled figure.
The year-to-date figure is the sum of the estimates for the months of the current year so far. It has no like-for-like counterpart yet: 2025 is on record only from July, so setting seven months of 2026 against six of 2025 would report a difference in window length as a fall in spending. Until the series covers the same months in both years, the comparison divides each side by its own length and compares monthly pace — which is why it is labelled "a month". Procurement is seasonal, so that is a weaker reading than a like-for-like one, and it upgrades on its own once the history reaches back far enough.
The Menacon Brief
Each new monthly reading goes out in The Menacon Brief, with a short note on what moved and why — alongside tender movements, regulatory shifts and hiring signals.