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Sunday, 31 July 2016

Saudi Arabia construction market has dropped 80 per cent, says Al Khodari chief | The National

Saudi Arabia construction market has dropped 80 per cent, says Al Khodari chief | The National:

"The chief executive of Saudi Arabia’s only publicly traded builder has estimated that the construction market in the kingdom has shrunk by as much as 80 per cent.

Fawwaz Al Khodari, the head of Al Khodari & Sons, also revealed the contractor has avoided bidding on some government projects because of payment delay concerns.

"The construction market has slowed down immensely," he said. "While we do not have definite numbers as statistics are sometimes contradicting, from the client base that we have been working with in the past, we believe, and are confident when we say, that construction has slowed down by at least 80 per cent," he said."



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