News

Japan’s log prices surged to 32.2% but exports decreased 35.8% in August 2021

Posted on Oct 05, 2021 Source

  • The average price of log increased by 32.2% to $138.9 per cubic meter in August 2021
  • Log exports fell 35.8% year-on-year to 74.1 thousand cubic meters and the value of exports decreased by 15.1% to $ 10.3 million

Vietnam Seaports handled 537 million tons of goods in the first 9 months of 2021

Posted on Oct 05, 2021 Source

  • Vietnam Seaports handled over 537 million tons of goods despite interruptions from the lockdown which is a 3% year-long progress, keeping a double-digit growth rate of 15% 
  • The Port's exports increased by 13% to 6 million TEU, imports increased by 18% to 6.1 million TEU, and goods reached 6.3 million TEU.

Al Ramz and Watheeq Proptech VC Fund in partnership to boost housing in Saudi

Posted on Oct 05, 2021 Source

  • Al Ramz the development company and investor Proptech VC Fund partnered to develop affordable and sustainable housing in Saudi Arabia using smart technologies which will supply 1.5 million homes as a part of vision 2030.

Georgia Pacific will spend $120 million in Texas Plant

Posted on Oct 05, 2021 Source

  • Georgia Pacific will spend $120 million to upgrade its Pineland Lumber mill in East Texas
  • The investment includes an extended log yard, a new debarking and log processing line, a constant dry kiln, a new high-speed planer, and a new sawmill.
  • The construction will complete in late 2022 which will increase the output by 70 million board feet annually

Port of Savanna will spend $34 million to increase the container capacity

Posted on Oct 05, 2021 Source

  • Georgia Ports Authority (GPA) will spend over $34 million to increase the capacity in 1.6 m twenty-foot equivalent container units at Port of Savanna, which will start in December
  • The Port of Savanna handled 5.3 million TEU annually and in August handled 485,595 TEU which is a 10% increase from August 2020 

Rettenmeier Group will expand its Incukalns plant in Latvia to increase production

Posted on Oct 05, 2021 Source

  • Rettenmeier Group will establish a new log yard and sawing line with a capacity of over 1 million cubic meters per year in 2022.
  • The Group will also install two new sorting lines in early 2023 and a new planning line with an annual output of over 250,000 cubic meters in 2024.

Real estate deals increased by 19% in Saudi Arabia

Posted on Oct 05, 2021 Source

  • The real estate transactions in Saudi Arabia increased 19% to SR15.59 billion ($4.1 billion) during August and September from SR13.12 billion ($3.4 billion) of 2020
  • The commercial real estate deals grew 93 % to SR5.2 billion ($1.3 billion) from 2020 and Riyadh witnessed the biggest real estate sales of SR6.88 billion ($1.8 billion).

Australia’s construction industry may stall down due to lumber shortage

Posted on Oct 05, 2021 Source

  • Australia could face a 15-year shortfall of 250,000 wooden house frame packages due to lack of trees, which can push up the cost and delay the projects for the country’s $212 billion ($154 billion) construction industry

August saw a 70.4% increase in softwood lumber price in Japan

Posted on Oct 05, 2021 Source

  • Japan’s softwood lumber price increased by 70.4% to $557.0 per cubic meter in August 2021.
  • The softwood lumber imports grew by 7.3% year-on-year to 423.2 thousand cubic meters and the value of imports also soared  82.8% to $235.7 million.

Sorouh Developments to spend $63 million on a residential project in New Administrative Capital (NAC)

Posted on Oct 05, 2021 Source

  • The real estate developer Sorouh Developments will invest EGP 1 billion ($63 million) in the construction work of a residential project over two years.
  • Sorouh Developments has spent EGP 380 million ($24 million) in this 72-feddan project. 

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