Dubai witnesses drop in construction costs last year

construction dubai ryanlackey flickrPrices of raw materials that are used for residential buildings and non-residential buildings declined last year. (Image source: Ryan Lackey/Flickr)The indicator for construction costs in Dubai for 2015 was 100.60, down 0.37 per cent compared to 2014, according to a new report by the Dubai Statistics Centre (DSC)

Gulf News reported that this was due to a drop in the indicator for raw materials year-on-year from 99.62 to 98.73 in 2015, a result of a decrease in the prices of materials used for construction by 0.89 per cent.

However, the indicator increased last year for equipment, labour and other costs from 103.00 in 2014 to 103.41.

Prices of raw materials that are used for residential buildings and non-residential buildings declined last year by 0.84 per cent and 1.12 per cent respectively.

Costs of quarry materials rose 1.54 per cent year-on-year, which was due to the rise in prices of raw stones, sand and gravel by 1.54 per cent.

Meanwhile, prices of wood and wood products, except for furniture, declined 1.16 per cent in 2015 over the previous year, as a result of a drop in prices of sawn and polished wood by 2.66 per cent, and the prices of wood products such as sheets and boards of compressed wood and plywood and MDF boards by 1.61 per cent.

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