Interesting times

The ink is barely dry on several multi billion dirham contracts, and already it looks like the money might have run out.

Of course, banks and developers drying up their liquidity might not be our industry’s concern, but it will be very much our problem if the investment in new equipment does not come through. I have pointed out before the dangerous parallels between the regional construction market and the ‘Tulipomania’ tulip bulb bubble which burst in Europe more than three hundred years ago.

Flip side to this, of course is that most projects are committed to being delivered – at least they will be if anybody wants to see their money again. Another blessing in disguise might be the various rules being introduced, which may force older machines out of the market – though obviously this will obviously not be good for all.

The pulse of the market will be checked at the Big 5 expo this month. Will the Trade Centre throng with potential buyers, clamouring to see the hottest product launches? Or will tumbleweed blow through silent stands? We’ll be sure to let you know. Meanwhile, remember the old Chinese saying “May you live in interesting times…”

Greg Whitaker is the editor of Plant Machinery Vehicles Middle East.

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