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Construction Cost Index of Dubai surges 0.16 percent in Q4-2018 | Emirates News Releases

Construction Cost Index of Dubai surges 0.16 percent in Q4-2018

DUBAI, Construction costs rose during Q4 of 2018 by 0.16 percent, compared to the Q3 of 2018, with construction costs rising by 0.14 percent for residential buildings and by 0.23 percent for non-residential buildings, figures from the Dubai Statistics Centre (DSC) have revealed.

It is noted that the Construction Cost Index (CCI) in Dubai rose by 6.06 percent when comparing CCI of the fourth quarter of 2018 to the fourth quarter of 2017 as costs rose by 6.14 percent for residential buildings and rose by 5.81 percent of non-residential buildings, an DSC report said.

The statistics issued by DSC show that the raw materials and materials used in the construction of buildings went down by 0.23 percent due to a decline in Manufacturing Group by 0.31 percent despite a rise in prices of Mining Materials and Quarrying Group by 1.38 percent.

Meanwhile, prices of wages, equipment, labor and other costs category increased by 0.73 percent due to a rise in labor wages and other costs by 0.79 percent in spit of the decline in the cost of hiring equipment by 0.52 percent.

The statistics also showed that the raw materials and materials used in the construction of residential buildings dropped by 0.23 percent due to a decline in prices of the Manufacturing Group by 0.32 percent, considering Mining Materials and Quarrying Group went up by 1.38 percent.

Additionally, prices of wages, equipment, labor and other costs category increased by 0.73 percent due to a rise in labor wages and other costs by 0.79 percent despite the fact that the cost of hiring equipment went down by 0.52 percent.

The raw material and material used in the construction of non-residential buildings shrank by 0.20 percent. The decline in prices is attributed to a fall in prices of the Manufacturing Group by 0.28 percent, while prices Mining Materials and Quarrying Group went up by 1.35 percent.

Moreover, prices of wages, equipment, labor and other costs category rose by 0.72 percent due to a rise in labor wages and other costs by 0.79 percent despite the cost of hiring equipment went down by 0.52 percent.

The DSC's statistics also revealed that the raw material and material used in the construction of buildings went up by 7.14 percent due to a rise in prices of Mining Materials and Quarrying Group by 14.24 percent and Manufacturing Group by 6.76 percent.

Furthermore, prices of wages, equipment, labor and other costs category increased by 4.52 percent due to a surge in labor wages and other costs by 4.93 percent and cost of hiring equipment by 4.50 percent.

The statistics revealed that the raw materials and materials used in the construction of residential buildings went up by 7.18 percent due to an increase in Mining Materials and Quarrying Group by 14.24 percent and Manufacturing Group by 6.79 percent.

Additionally, prices of wages, equipment, labor and other costs category surged by 4.52 percent due to a rise in labor wages and other costs by 4.50 percent and cost of hiring equipment by 4.93 percent.

The raw material and material used in the construction of residential buildings increased by 6.98 percent. The rise in prices is attributed to a surge in prices of Mining Materials and Quarrying Group by 14.25 percent and Manufacturing Group by 6.64 percent.

Source: Emirates News Agency