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Construction Cost Index of Dubai Drops by 1.72% in 2020

Image: DSC logo

Image: DSC logo

​The Construction Cost Index dropped by 1.72% during 2020, as the Construction Cost Index was 105.75 during 2020, compared to 107.60 in the previous year. The Construction Cost Index of non-residential buildings prices dropped by 1.50% and residential buildings prices dropped by by 1.79%, compared to the previous year.
The main reason for the decline in the Construction Cost Index is the price drop of materials and raw materials used in construction operations by 2.89% due to the drop of prices of Mining and Quarrying by 3.98% and Manufacturing by 2.83%  due to the drop of prices of Refined Petroleum Products by 11.59%, Computers, Electronic and Optical products by 5.52%, Non-Metallic Mineral Products by 4.46%, Electrical Equipment by 2.27%, Manufacture of Basic Metals by 1.73%, Furniture by 1.58%, Wood and Wood Products, Except Furniture by 1.08%, Machinery and Equipment N.E.C. by 0.16, and Chemicals and Chemical Products by 0.06%.
Whereas the prices of Hiring of Equipment, Labour Wages and Other Costs were stabilized and remained at their previous proportions during 2020.