Dubai Statistics Center "DSC" announced that Dubai observed the completion of 4333 new units valued at 14.9 billion dirhams during the first half of 2017 according to completion certificates issued by the Dubai Municipality, excluding certain areas controlled by other licensing authorities or what is called free zones.
The total number of completed units in Dubai was about 130,000 units by the end of the first half of 2017 compared to 5,837 units in the first half of 2016 with a total value of 13.3 billion dirhams as per the completion certificates issued by the Dubai Municipality.
The statistical report revealed that Investment Villas topped the new units in terms of number, while Multi-Storey Units were placed first in terms of value. The number of completed Investment Villas during the first half of 2017 were 2867 with a percentage of 66% of total completed units during the same period valued at 2.8 billion dirhams which represents 18.9% of the total value of the completed units during the same period. Meanwhile, the number of completed Private Villas was 966 representing 22% of the total completed units during the first half of the current year valued at 1.7 billion dirhams which is 11.3% of the total completed units during the first half of 2017.
Multi-Storey Units
The report showed that the completed Multi-Storey Units during the first half of 2017 were 173 that is 4% with a value of 2.9 billion dirhams which is 19.3% of the total completed units during the first half of 2017. The Industrial Units completed during the same period were 147 units which is 8.2% of the total value of units completed within the same period.
The Multi-Storey Units surpassed all other types of completed units during the first half of 2017 in terms of value as 103 unites were completed which represents 2% of the total completed units during the same period valued at 5.2 billion dirhams which is 34.5% of the total value of completed units during the first half of this year. Additionally, 77 Public Facility Units were completed, that is 2% of the total completed units during the first half and their total value was 1.2 billion dirhams which is 7.8% of the total value of units completed within the same period.
Residential Units
With respect to the Comprehensive Inventory of Buildings, Housing Units and Households carried out by DSC last year, the total number of residential units in the Emirate of Dubai exceeded 522, 000 units by the end of 2016. Residential units "apartments" were at the top of these units by nearly completed 410,000 apartments, completed "villas" were approximately 89,000 villas while the rest were of other types of residential units.
Construction Costs
The general index of construction costs stood at 100.66 in 2016 recording a rise of 0.06% compared to the index of 2015 which was 100.60 due to a rise in raw materials index from 98.73 in 2015 to 98.96 in 2016, along with an increase in the prices of materials used in construction of units by 0.23%.
The index of equipment, labor and other costs went down from 103.41 in 2015 to 103.22 in 2016 marking a decline by 0.19%. The prices of raw materials used for construction rose slightly by 0.23% to stand at 11.63% due to a rise in prices of quarrying materials. The prices of manufacturing materials decreased by 0.27%. Meanwhile, prices of raw materials used in residential units rose by 0.31% and came down by 0.10% in non-residential units.