Construction sector in Gaza under pressure
The Israeli siege and the deteriorating economic situation in the Gaza Strip have forced dozens of construction companies to shut down and relocate to the West Bank or neighboring countries.
GAZA CITY, Gaza Strip — Iyad Suleiman Abu Hamad, the owner of Abraj Makka Trading and Contracting Company, decided last summer to shut down his company in the Gaza Strip and move to the West Bank.
Abu Hamad’s company specialized in construction and maintenance, road construction and public works and was located in the eastern part of Khan Yunis, the second-largest city in Gaza. The company employed 30-50 Palestinians. But in July 2018, it shut its doors and Abu Hamad moved to the West Bank.
He told Al-Monitor, “The stagnation in Gaza’s market, the fall in the price of construction material, the lack of monetary liquidity and people’s weak purchasing power prompted me to close the company and move to the West Bank.”
He said, “There are no encouraging factors to live and work in Gaza. The situation is frustrating and companies are suffering losses. Nobody is there to save us. I decided that the best step was to move building operations to the West Bank.”
