Rising Costs hurt UAE Real Estate Contractors
The country's contractors may suffer this year because of rising raw material prices, industry sources said.
Aamer Kannan, General Manager of Global Resources, a construction raw material trading company, said that his company warned contractors last month that the prices of most raw materials will increase in the beginning of 2007 by 10 to 15 per cent.
"We advised them to reevaluate their new project contracts in line with the expected change in prices," he added. "The new expected increments go to factors like the increase in insurance, transportation and the increase in the global prices."
end post (via Gulf News)
Labels: Construction (UAE)
posted by bizzwhizz at 11:14 AM
2 Comments:
coats often sour but in Dubai their rising pattern in unpredictable and that is what makes it unbearable for businesses
yes businesst, I think u meants "costs" not "coats" ! there is a positive side to this kind of growth and that is the companies who will survive this would in the longer run have a better edge on any new or upcoming competition.
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