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2009-05-07 20:05:06
Rental charges of have dropped by more than 50 per cent due to lack of demand. And many companies, which bought new machinery and hired staff, say rental hours have seen a huge drop during the past six months.
One machinery supplier told Emirates Business that many of his machines were lying idle for three weeks. Most affected are large machines, especially cranes.
Malik Wakas of Al Badwani Construction and Building Materials Rental yesterday said his monthly turnover has declined by almost 80 per cent.
"Demand has dropped massively. At least 60 to 70 per cent of all our machines used to be hired last year whereas the majority of them are now in storehouses," said Wakas. "Secondly, rental charges have also dropped. Machines that used to fetch about Dh60 to Dh100 per hour earlier now find no takers even for Dh30. During 2008, we used to have a monthly turnover of about Dh100,000 whereas now it has been reduced to about Dh20,000."
Hundreds of JCB machines and other trucks, which are seen lined up in several parts of Dubai, have remained idle for weeks together.
Jasbit Singh, driver of a JCB truck, recently told Emirates Business that last year he used to work for 10 to 12 hours every day and the machine used to be rented out in shifts.
"The machines were never rented out for less than five hours. We used to charge about Dh150 an hour. This was last year. I am here all day for the past three weeks waiting for work. I am willing Construction to work for even Dh30 to Dh40 an hour. People are desperate to get work," said Singh, who has been in the UAE for the past four years.
May be is right!
