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FINANCIAL NEWS
Saudi construction part faces hard times
21 Nov 2015
(MENAFN) Saudi Arabia’s building sector, is getting through hard times, according to a view of state budget cuts adds to hurtful work reforms.
However; firms in the sector have disadvantaged from a building boom, through the previous decade, as best oil exporter took advantage of basic prices to spend on transport.
Whereas, companies are having troubles because of work reforms, Brent crude prices decreased to almost USD 45mn from over USD 115mn in June the previous year.
“I think we should expect the difficult situation in the (construction) sector to go on for 18 more months,” Said Fawwaz Al Khodari.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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