Equipment rental business 'growing in Saudi'
Riyadh, August 10, 2014
The earthmoving equipment rental market in Saudi Arabia is growing at a rapid pace with construction companies now focusing more on renting equipment rather than buying them, says a new report.
The chances of the equipment being idle when there is no business is moderate and companies do not incur high maintenance cost when they rent equipment, said the Research and Markets "Earthmoving Equipment Market in Saudi Arabia 2014-2018" report.
Construction companies prefer to rent equipment for a fixed duration, it said.
There has been an increase in the number of earthmoving equipment manufacturers providing rental services during the past few years. Companies such as Younes Fateh Khaja and Partners Contracting Company, Zahid Group, and Dayim Holdings provide earthmoving equipment on a rental basis for construction purposes, it said.
The increasing construction of skyscrapers is one of the major factors contributing to the growth of the equipment market in Saudi Arabia, it said. - TradeArabia News Service