The oil crisis changed the relationship between domestic and foreign business totally
andfor forever. While the quadrupling of oil prices in 1973 unleashed a crisis in many
industries, the construction industry benefited from the unexpected wealth of the
oil-exporting countries. The 1975 Annual Report recorded an increase in foreign
business and a decline in domestic business. This trend continued until 1980, when
HOCHTIEF's total construction output passed the DM 6 billion mark for the first time,
with its foreign business contributing more than half. The construction of
Jeddah Airport in Saudi Arabia (1974-1981)
contributed significantly to this result as the biggest single contract HOCHTIEF had
so far ever handled.
In the 1980s, however, the foreign business crumbled away visibly, but HOCHTIEF managed
to remain stable by expanding its domestic business. One ambitious building at
this time was the Torhaus in Frankfurt am Main, completed in 1984. After the lean years from
1986 through 1988, HOCHTIEF started once again to report clear growth.
