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Building material imports from China to cost more
DUBAI — The costs of building materials imported from China are set to increase by approximately 10-15 per cent starting August 2007 according to Danube Building Materials FZCO, a leading player in the construction, interior decoration and shop-fitting industry.
Costs of Chinese imports particularly plywood/MDF have witnessed sharp increases on account of the reduction of rebates granted by the Chinese government to factory owners and export companies down to 5 from the previous 11 per cent. Citing reliable sources in the Chinese market, Danube further revealed that the remaining 5 per cent rebate would be removed in August 2007, which should result to an overall increase in costs by 11 per cent.
China currently supplies almost one-third of the materials in the booming construction industry of the UAE, which has a total value of $300 million in active construction projects. In addition to the expected price increases of Chinese products, freight charges per 40-inch container have also risen in the past two months to $2,300-2,800 in June from the previous $1,300-1,500 in May.
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