Daall Saudi Government Demand Index (DGI)

Index level

Daily, 1 Jan 2023 – 30 Sep 2026 · each point is the award value of the preceding 365 days

Each point sums contract awards over the preceding 365 days, VAT included; no single award counts for more than 10% of the prior twelve months. Bars show the value awarded on each day, SAR m. Source: Etimad award records, read by Daall.

Buyer breadth 12 months to Sep 2026 vs the prior 12

Government entities that awarded contracts in both windows; flat means within ±5%. Entities with several Etimad names are counted once. Largest buyers →

Market structure calendar 2025

Reading	Value	What it measures
Listed share	8.7%	Award value won by 78 Tadawul and Nomu issuers
Foreign share	4.0%	Won by foreign companies and their Saudi subsidiaries
Direct purchase	1.3%	Of value; 66% of awards by count
Median bidders	7	Offers received on a public tender
Concentration	52%	Value in the largest 1% of awards, 2023–2026

Sector indices

Trailing 12 months to Sep 2026 · SAR bn after the single-award cap · Etimad activity codes mapped to Tadawul industry groups

Index	Industry group	SAR bn	1Y	Since Dec 2022	46 months

−60%+60%size: SAR bn

Each sector has its own page with a monthly chart and peers; select an index symbol. The mapping from Etimad activity codes to Tadawul industry groups is a draft (methodology).

Largest buyers

12 months to Sep 2026 · SAR m · top 15 of 2,000+ entities · select a column head to sortBuyers page →

Filter buyers

Bars show each entity's value against the largest. "2 names" marks an entity whose Etimad accounts were merged. Arabic names are as registered on Etimad.

Listed exposure

Calendar 2025 · award value won by Tadawul and Nomu issuersAll 78 issuers →

8.7%

of 2025 award value went to listed issuers

78

issuers won at least one award

4.0%

to foreign companies and their subsidiaries

—

total won by listed issuers

Issuers matched to registered supplier names; subsidiaries not yet consolidated, so the listed share is a floor.

Ticker	Issuer	SAR m	Share of listed

Performance

Change in index level · point-to-point on the trailing-365-day value

Period	1M	3M	YTD	1Y	3Y

Calendar year	2023	2024	2025	2026 YTD

Calendar-year change for 2023 runs from 1 Jan 2023, the first published level, to 31 Dec 2023.

Distance from all-time high 127.68 on 21 Jul 2024

Percentage below the highest level recorded to date. Zero means a new high.

Methodology

Version 0.1 · preliminaryFull methodology →

Universe

Every contract award published on Etimad, the Saudi government procurement portal, since 2020: 242,737 awards worth SAR 495bn. Private invitations without a published award are outside the universe.

Calculation

Index level = award value over the trailing 365 days ÷ its 2023 average × 100. One index point equals SAR 951m of trailing annual award value. Values include VAT.

Capping

No single award counts for more than 10% of the prior twelve months' value. At 30 Sep 2026 the cap touches 37 awards and removes SAR 21.7bn from the uncapped sum.

Sectors

Etimad activity codes are mapped to Tadawul industry groups, so a sector index can be read against the listed sector it supplies. Eight groups carry enough value to publish.

Breadth

Entities with awards in both the current and the prior 12-month window are counted as increasing, flat (within ±5%) or decreasing. 14 entities with several Etimad accounts are merged.

Revisions

Awards are first seen a median of 3 days after the award date, 90% within 30 days. Levels are preliminary for 30 days and final after 45. Point-in-time series are kept from 30 Jul 2026.

Index-linked data

Available to subscribers · sample on requestData products →

Product	Contents	Delivery	Frequency
Award feed	Every award in English: buyer, supplier, value, bidders, offer range, sector, ticker, ISIN	CSV · Parquet · API · MCP	Daily
Index series	DGI and eight sector indices, point-in-time from 30 Jul 2026	CSV · API	Monthly
Listed exposure	Awards by Tadawul and Nomu issuer, with undisclosed contracts	CSV · API	Daily
2025 sample	37,696 awards with tickers and ISINs	CSV	On request

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