According to this article from Asian Glass, the price of glass is expected to surge this year amid growing demand, an industry leader said. Abdulaziz Bin Yagub Al Serkal, General Manager of Dubai Investments (DI) PJSC, anticipated an increase in the cost of glass in the midst of escalating demand. "Over the past few years, the increase in prices was quite unhealthy due to various factors. However, we expect prices to go up by 7010% this year due to increase in the cost of raw materials and surging demand across GCC and international markets," he said. According to estimates, over 1300 construction projects are expected in the UAE alone, valued at around $418BN, while Qatar has seen an exponential rise in infrastructure and construction projects in preparation for FIFA 2022. Across the GCC, another 300 projects worth $143BN are in the design, planning or bidding states. "Glass LLC has world-class capabilities to meet the stringent technical specifications required for projects in the region. Over the years, Glass LLC has won an excellent portfolio of projects. We are planning an upgrade in the machinery and equipment at our facilities at SAG and Lumiglass to manage the expected volumes," added Serkal. Glass LLC is also expected to aggressively tap into the export markets in the coming months co complement its existing presence across GCC, MENA, Eastern Europe, India and part of South Africa. "We have a strong presence across the globe, and in 2014, we are eyeing the South American market," said Serkal, adding that automotive bullet resistant glass has also seen increased demand from Canada, Pakistan, Iraq, Afghanistan, Jordan and Lebanon.
