The contractors association in U.A.E described Emirate General Petroleum Corporation’s decision of decreasing diesel price to 3.10 Durham per liter as supportive for building and construction sector.
Ahmed Seif Belhasa, the association chairman which constitutes of hundreds of contracting corporations, showed his satisfaction with the corporation decision, saying that it will back development in all economic sectors not only constructions sector.
Contracting companies use diesel in the construction process, hence, the decision will absolutely affect the living costs, in addition to properties rental and ownership prices.
Belhasa mentioned also that diesel price reduction came in parallel with reducing some building materials’ prices, this will positively affect contracting companies, landlords, down to final customers.
Emad Azmy, manager and partner in El Shafar Real Estate Developments, said that the recent decision will ease the burden on all contracting companies as diesel fuel covers around 35% of all total cost in general construction companies, and 60% in roads construction companies.