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November 30, 2009updated 12 Apr 2017 4:29pm

Outright purchase gains ground in Middle East

The influx of used European construction equipment to the Middle East has presented leasing companies in the region with a sales challenge, as pre-owned plant prices have sunk low enough to make outright purchase attractive to companies even cash-poor ones anticipating an industry upturn.

By Fred Crawley

The influx of used European construction equipment to the Middle East has presented leasing companies in the region with a sales challenge, as pre-owned plant prices have sunk low enough to make outright purchase attractive to companies – even cash-poor ones – anticipating an industry upturn.

Speaking at a Dubai conference arranged by industry publication Construction Week, the general manager of regional leasing company Ejar Cranes and Equipment, Habib Mikati, said:

“Now is the best time to invest and buy machines, and I’m saying that as someone from a leasing company. Prices have come down and if companies have the money, it’s worth buying. Having said that, rental prices have also dropped a lot.”

At the same event, Waiel Manfalouti, head of House of Equipment, said “There is a lot of used equipment out there that’s in excellent condition. It’s the right time to invest. If you’re looking to the medium term, buying equipment is a good use of cash.”

Fred Crawley

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