Black Market - Cement

The construction boom has caused a shortage in the cement and steel, increasing the price of the materials and slowing construction on projects. There is a black market for cement in Dubai because of the shortage and long waiting periods, where prices are up to 60% above the price ceiling fixed by the UAE Ministry of Economy. The Ministry of Economy set a price ceiling in June 2007 that would stop the escalating costs but the manufacturers have charged other items in their books to make up for the difference in the price ceiling and the street value without being reprimanded.