CEO Interview: RAK Ceramics' image overhaul has helped it to avoid price battles | ZAWYA MENA Edition:
The past couple of years have been tough for any company operating in the Gulf's construction sector - especially for those with exposure to Saudi Arabia.
The value of contract awards in the kingdom fell dramatically in 2015 and 2016 as the government stopped signing any new deals and reviewed its spending commitments following a dramatic fall in oil prices in 2014.
According to project and cost consultancy Faithful + Gould, the value of contracts awarded fell to $22 billion in 2016 and 2017, declining from $35.5 billion in 2015, $49.1 billion in 2014 and $69.1 billion in 2013.
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