Logo of Saudi Center for Commercial Arbitration (SCCA)
Hamed bin Hassan Mira, CEO of the Saudi Center for Commercial Arbitration (SCCA), said cases received by the center covered more than 31 economic sectors, with the construction sector accounting for over 30% of all registered lawsuits last year.
It was followed by the professional services sector, along with other sectors such as tourism, healthcare, sports, technology, oil and gas, food and beverages, and agriculture, he added in an interview with CNBC.
The top executive indicated that the value of disputes brought to the center from year-start until mid-August exceeded SAR 2.2 billion.
He also highlighted that the center has registered more than 560 cases in just eight years of operation, including 120 cases last year alone, a figure he described as unprecedented globally.
Over the past three years, the average growth rate of cases neared 63%, he added.
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