The influx of used European construction equipment to the Middle
East has presented leasing companies in the region with a sales
challenge, as pre-owned plant prices have sunk low enough to make
outright purchase attractive to companies – even cash-poor ones –
anticipating an industry upturn.
Speaking at a Dubai conference arranged by industry publication
Construction Week, the general manager of regional leasing company
Ejar Cranes and Equipment, Habib Mikati, said:
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“Now is the best time to invest and buy machines, and I’m saying
that as someone from a leasing company. Prices have come down and
if companies have the money, it’s worth buying. Having said that,
rental prices have also dropped a lot.”
At the same event, Waiel Manfalouti, head of House of Equipment,
said “There is a lot of used equipment out there that’s in
excellent condition. It’s the right time to invest. If you’re
looking to the medium term, buying equipment is a good use of
cash.”
Fred Crawley
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