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RIYADH: ��������’s Tadawul All Share Index dipped on Sunday, losing 88.86 points, or 0.77 percent, to close at 11,494.45. 

The total trading turnover of the benchmark index was SR4.65 billion ($1.24 billion), with 42 stocks advancing and 211 retreating.  

The MSCI Tadawul Index also fell, dropping 13.01 points, or 0.86 percent, to close at 1,496.74. 

The Kingdom’s parallel market Nomu gained 57.44 points, or 0.22 percent, to end at 25,862.86, as 45 listed stocks advanced while 47 retreated.  

The best-performing stock of the session was Maharah Human Resources Co., whose share price surged 9.90 percent to SR5.33. 

Other top performers included Saudi Automotive Services Co., up 7.44 percent to SR70, and National Shipping Co. of ��������, rising 7.24 percent to SR29.64. Savola Group and Al-Omran Industrial Trading Co. followed, climbing 4.80 percent and 3.01 percent to SR26 and SR32.20, respectively. 

On the downside, Naseej International Trading Co. fell to SR80.40, down 9.97 percent.  

Gas Arabian Services Co. slipped to SR15.57, down 4.13 percent, and National Medical Care Co. to SR175.40, down 3.47 percent. Methanol Chemicals Co. dropped to SR10.05, down 3.27 percent, while Tamkeen Human Resource Co. declined to SR58.15, down 2.76 percent. 

On the corporate announcements front, Arabian Centres Co., operating as Cenomi Centers, announced a public offering of Saudi Riyal-denominated Sukuk to refinance existing debt and meet general corporate needs.  

According to a Tadawul statement, the offering follows Capital Market Authority approval on Sept. 16, under the company’s established SR4.5 billion sukuk issuance program. The final issuance amount will depend on market conditions, with Al Rajhi Capital appointed as financial advisor, sole arranger, and dealer for the offering. 

Cenomi Centers’ shares traded 1.64 percent lower, closing at SR22.23. 

RIYADH: �������� led the Gulf Cooperation Council’s projects market in the third quarter of 2025 with $28.1 billion in contract awards, a new report showed.    

According to Kamco Invest, this represented 51.3 percent of total GCC awards — just over half of regional activity.  

Across the region, total GCC contract awards fell 27 percent year on year to $54.8 billion in the third quarter, with nine-month awards down 30.5 percent to $154.4 billion.  

In its report, Kamco stated: “Contract awards are expected to gain momentum in the fourth quarter of the year, driven primarily by recoveries in �������� and the UAE.”   

It added: “However, despite a strong project pipeline, overall project awards in 2025 in the GCC are expected to decline and fall short of the 2024 record contract awards.”   

Sectorally, six of the GCC’s eight industries recorded year-on-year declines in the third quarter. Construction dropped 62.4 percent to $11.1 billion and power decreased 13.3 percent to $17.1 billion, while gas and oil were the only sectors to post growth.    

Within ��������, power led with $9.8 billion in awards, compared with $17.1 billion a year earlier, while construction totaled $5.2 billion; there were no chemical sector awards and oil stood at $3.9 billion.     

Notable awards included an $853 million road package for Almabani General Contractors and a $167 million contract for a Pirelli tyre plant in King Abdullah Economic City. Over the first nine months, awards nearly halved to $61.5 billion from $116.6 billion.    

��������’s lead comes as contracts awarded under its giga-projects surged 20 percent in 2025 to $196 billion, according to Knight Frank.     

The report said the increase reflects a clear shift from planning to execution across major developments, particularly in real estate, tourism, and infrastructure, signaling steady progress in the Kingdom’s Vision 2030 diversification drive.    

Kamco’s report stated: “Overall project activity in �������� has been sluggish throughout 2025. However, the Kingdom’s broader economic performance has been better than previously expected.” 

In the UAE, third-quarter awards fell 65.8 percent year on year to $6.7 billion, moving the country from the GCC’s largest projects market in the second quarter to third place in the third quarter.   

Over the first nine months, awards declined 18.0 percent to $59.7 billion. Construction led with $5.4 billion despite a 56.2 percent slide, and there were no oil and gas awards in the quarter.    

Major announcements included a $593 million contract for Sharjah’s Madar Mall and a $300 million award for the Erisha Smart Manufacturing Hub in Ras Al-Khaimah.   

Qatar was a bright spot, with contract awards jumping 115.9 percent year on year to $13.6 billion in the third quarter and rising 27.6 percent to $20.5 billion over the first nine months, supported by preparations for the 2030 Asian Games.   

Oil and gas led sector allocations, and China Offshore Oil Engineering won roughly $4 billion of contracts for the Bul Hanine offshore field.   

Kuwait’s market improved, with third-quarter awards up 33.8 percent year on year to $4.3 billion and first-nine-months awards up 25.3 percent to $7 billion.   

The quarter was dominated by the $4 billion Al Zour North IWPP phases two and three, alongside an $84 million upstream oil contract and a $65 million public-buildings package in Al Mutlaa Residential City.   

Looking ahead, Kamco expects awards to gain momentum in the fourth quarter on recoveries in �������� and the UAE, although full-year 2025 awards are still seen finishing below 2024’s record.   

The GCC’s pre-execution pipeline totals about $1.78 trillion, led by construction with $624.2 billion, transport with $300 billion and power with $294.2 billion.   

�������� accounts for roughly $887 billion of upcoming projects and the UAE $434.0 billion; Saudi Aramco plans 99 projects over the next three years and currently has about $50 billion of engineering, procurement, and construction contracts under execution.