Construction costs rose during the fourt quarter of 2018 by 0.16%, compared to the thrid quarter of 2018. It was found that the construction costs rose by 0.14% for residential buildings and rose by 0.23% of non-residential buildings, figures from the Dubai Statistics Centre (DSC) have revealed.
It is noted that the Construction Cost Index (CCI) in Dubai stood at rise by 6.06% when comparing CCI of the fourth quarter of 2018 to the fourth quarter of 2017 as costs rose by 6.14% for residential buildings and rose by 5.81% of non-residential buildings, a DSC report said.
Construction Costs Movement during Q4-18 Compared to Q3-18
General Index of Construction Costs
The statistics issued by DSC show that the raw materials and materials used in the construction of buildings stood went down by 0.23 per cent due to a decline in Manufacturing Group by 0.31 per cent despite a rise in prices of Mining Materials and Quarrying Group by 1.38%.
Meanwhile, prices of wages, equipment, labor and other costs category increased by 0.73% due to a rise in labor wages and other costs by 0.79% in spit of the decline in the cost of hiring equipment by 0.52%.
Residential Buildings
The statistics also showed that the raw materials and materials used in the construction of residential buildings dropped by 0.23 per cent due to a declin in prices of Manufacturing Group by 0.32 per cent, considering Mining Materials and Quarrying Group went up by 1.38 per cent.
Additionally, prices of wages, equipment, labor and other costs category increased by 0.73% due to a rise in labor wages and other costs by 0.79 per cent despite the fact that the cost of hiring equipment went down by 0.52%.
Non-Residential Buildings
The raw materials and materials used in the construction of non-residential buildings shrank by 0.20 per cent. The decline in prices is attributed to a decline in prices of Manufacturing Group by 0.28 per cent, while prices Mining Materials and Quarrying Group went up by 1.35 per cent.
Moreover, prices of wages, equipment, labor and other costs category rose by 0.72% due to a rise in labor wages and other costs by 0.79% despite the cost of hiring equipment went down by 0.52%.
Construction Costs Movement during Q4-18 Compared to Q4-17
General Index of Construction Costs
The DSC's statistics also revealed that the raw materials and materials used in the construction of buildings went up by 7.14 per cent due to a rise in prices of Mining Materials and Quarrying Group by 14.24 per cent and Manufacturing Group by 6.76 per cent.
Furthermore, prices of wages, equipment, labor and other costs category increased by 4.52% due to a surge in labor wages and other costs by 4.93% and cost of hiring equipment by 4.50%.
Residential Buildings
The statistics revealed that the raw materials and materials used in the construction of residential buildings went up by 7.18 per cent due to an increase in Mining Materials and Quarrying Group by 14.24 per cent and Manufacturing Group by 6.79 per cent.
Additionally, prices of wages, equipment, labor and other costs category surged by 4.52% due to a rise in labor wages and other costs by 4.50% and cost of hiring equipment by 4.93%.
Non-Residential Buildings
The raw materials and materials used in the construction of residential buildings increased by 6.98 per cent. The rise in prices is attributed to a surge in prices of Mining Materials and Quarrying Group by 14.25 per cent and Manufacturing Group by 6.64 per cent.
Additionally, prices of wages, equipment, labor and other costs category surged by 4.52% due to a rise in labor wages and other costs by 4.50% and cost of hiring equipment by 4.93%.