Tuesday , December 12 2017

Construction slowdown forces firms to cut number of workers

KUWAIT CITY, July 3: Recession has hit hard on the construction market due to suspension or completion of a number of construction projects including bridges as well as due to the snails’ pace in the distribution of housing which has caused the prices of construction materials to fall by 15 percent, reports Al-Shahed daily quoting informed sources.

They revealed that the distribution companies as well as outlets that sell construction materials have resorted to reduce their expenses by reducing the number of workers.

The sources affirmed that the outlets are seeking to reduce their expenses in light of the lack of opportunities and lesser demand in the local market for building materials such as bricks, cement and other materials used in residential construction sector.

They indicated that some of these outlets are working on signing contracts with companies that have future projects, adding that the main objective of these outlets is to obtain and secure these contracts this summer.

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