Construction demand for steel longs has eased in across Gulf Cooperation Council (GCC) countries in the Middle East. Private sector real estate developers in the region are holding off steel purchases due to concerns over their ability to pass on higher costs. Activity in the property market of the region is quite weak. Housing and commercial real estate buyers are concerned about possible fall in property prices in major hubs such as Dubai, Abu Dhabi and Muscat due to a reduction in the expat population. The weak sales outlook has resulted in new project launches being halted by large developers.
展开▼
