Gulf contractors face tough market conditions amid cashflow constraints | The National:
"Contractors across the Gulf are facing a tough set of market conditions, with cash flow constraints and greater competition for fewer contracts placing a squeeze on margins, according to Deloitte.
The accountancy firm’s 2016 Powers of Construction report states that contract awards are likely to drop to $140 billion this year, a reduction of 17 per cent on the amount of awards last year.
Despite this, Deloitte argued that the pipeline of future projects due for delivery in future years means the region still offers decent long-term fundamentals for companies prepared to ride out the current slowdown in the market."
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