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Wednesday, 23 November 2016

Saudi government payments to construction firms may not mean a speedy market recovery, builders warn | The National

Saudi government payments to construction firms may not mean a speedy market recovery, builders warn | The National:
"Builders have cautioned that the Saudi government’s instigation of repayments to its suffering construction industry may not be able to avert a prolonged lull next year before a recovery takes hold of the market.

Joseph Daher, the chief executive of the Jeddah-based Almabani General Contractors, said payments started to filter through from some government-related clients at the end of September.

"We’ve received some, and more is on the way," he said. "We have reasons to be optimistic.""

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