Construction costs went down during the second quarter of 2019 by 0.44 percent, compared to the first quarter of 2018, the Dubai Statistics Center (DSC) reported.
It was found that the construction costs went down by 0.44 percent for residential buildings and by 0.46 percent of non-residential buildings.
It is noted that the Construction Cost Index (CCI) in Dubai stood at a rise by 0.72 percent when comparing CCI of the second quarter of 2019 to the second quarter of 2018 due to a surge in construction cost of residential units by 0.73 percent and by 0.60 percent for non-residential units, a DSC report said.
Construction Costs Movement during Q2-19 Compared to Q1-19
General Index of Construction Costs
The statistics issued by DSC show that the raw materials and materials used in the construction of buildings dropped by 0.74 percent due to a decline in Manufacturing Group by 0.78 percent.
Meanwhile, prices of wages, equipment, labor, and other costs category remained stable ad maintained their previous levels.
Residential Buildings
The statistics also showed that the raw materials and materials used in the construction of residential buildings went down by 0.71 percent due to a decline in Manufacturing Group by 0.75 percent.
Nonetheless, prices of wages, equipment, labor, and other costs category remained stable ad maintained their previous levels.
Non-Residential Buildings
The raw materials and materials used in the construction of residential buildings decreased by 0.85 percent. The surge in prices is attributed to a decline in the Manufacturing Group by 0.90 percent.
In the meantime, prices of wages, equipment, labor, and other costs category remained stable ad maintained their previous levels.
Construction Costs Movement during Q2-19 Compared to Q2-18
General Index of Construction Costs
The DSC’s statistics also revealed that the raw materials and materials used in the construction of buildings went down by 0.74 percent due to a decline in Mafcturing Group by 0.86 percent.
Furthermore, prices of wages, equipment, labor, and other costs category increased by 2.96 percent due to a surge in labor wages and other costs by 4.13 percent.
Residential Buildings
The statistics revealed that the raw materials and materials used in the construction of residential buildings went up by 0.73 percent due to an increase in Manfacturing Group by 0.85 percent.
Additionally, prices of wages, equipment, labor, and other costs category surged by 3.14 percent due to a rise in labor wages and other costs by 4.13 percent.
Non-Residential Buildings
The raw materials and materials used in the construction of residential buildings decreased by 0.78 percent. The decline in prices is attributed to a drop in prices of Manufacturing Group by 0.88 percent.
On the other hand, prices of wages, equipment, labor, and other costs category rose by 2.23 percent due to a rise in labor wages by 4.13 percent.