Print this page
Email this to a friend
Discuss this article (0 Comments)Industry slowdown forecast
by ArabianBusiness.com staff writer on Saturday, 14 October 2006
Long-term stability in the construction industry could be hampered by high energy prices and future prime ministerial changes, according to a report by the Royal Institution of Chartered Surveyors (RICS).
The report says that despite a rise in commercial and residential property construction, confidence in profit has fallen due to high energy and raw material prices, as well as nervousness about prime minister Tony Blair’s exit strategy and its effect on the economy.
“Interest rates are set to rise further and will cool the property market in 2007.
As such, we foresee a market slowdown in the construction industry,” said Milan Khatri, chief economist at RICS.
READERS' COMMENTS
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST
LATEST MIDDLE EAST BUSINESS NEWS
- Politics & Economics: Lebanon marks 65 years of independence
- Energy: Turkish pipeline to reopen in one week
- Banking & Finance: Citi in talks with gov't as share price nosedives
- Financial Markets: Saudi stocks plummet as oil drops below $50
- Construction & Industry: Indian textiles sector to lose 500,000 jobs
From 
RELATED STORIES
Royal Institution of Chartered Surveyors
| 6 stories- Manchester MBA gets RICS accreditation
16 Nov '07 | News - Expats to be hit hard as mortgages soar
13 Sep '07 | News - New salary survey
2 Aug '07 | News
Mobile
EMIRATES ID DOWNLOAD
