The recent few weeks in a row have seen a bullish trend for prices for all building materials. The overall sentiment in the developing economies of India, Turkey, China and the MEA region helped push up these prices.
With Expo 2020 approaching, the UAE construction market will remain robust, with projects worth of several billion dollars under construction. Sajan believes this bullish trend for building material prices will be sustained.
He advises businesses to take calculated risks and order sufficient stocks when prices of building materials are rising. “Many businesses do the mistake of ordering less quantities when prices are going up. This, in turn, leads to an artificial shortage and further increase in prices,” he warns.