Price of glass seen to rise by 10% on strong demand

Date: 26 February 2014
Source: www.zawya.com

Date: 26 February 2014

The price of glass is expected to surge this year amid growing demand, an industry leader said.   Abdulaziz Bin Yagub Al Serkal, General Manager of Dubai Investments ( DI ) PJSC, anticipated an increase in the cost of glass in the midst of escalating demand.

"Over the past few years, the increase in the prices was quite unhealthy due to various factors. However, we expect the prices to go up by 7 percent to 10 percent this year due to increase in the cost of raw materials and surging demand across GCC and the international markets," he added.

According to estimates, more than 1,300 construction projects are expected in the UAE alone, valued at approximately $418 billion, while Qatar has seen an exponential rise in infrastructure and construction projects in preparation for FIFA 2022. Across the GCC, another 300 projects worth $143 billion are in the design, planning or bidding states, as per the estimates.

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