Friday, July 7, 2017

Construction costs edge up in Dubai in 2016

The general record number for construction costs in Dubai increased during the year 2016 to 100.66 - 0.06 per cent up from 100.60 in 2015, a report said.

Dubai Statistics Centre attributed the growth to an increase in the record number of raw material from 98.73 in 2015 to 98.96 in 2016 and a price rise in the building material which was up 0.23 per cent, reported Wam, the Emirates official news agency.

In the meantime, the record number for equipment and labour and other costs declined 0.19 per cent from 103.41 in 2015 to 103.22 in 2016.

Construction raw material slightly increased by 0.23 per cent in 2016 on the back of an 11.23 per cent price hike in quarry materials, with process industries material prices edging down by 0.27 per cent. According to the report, residential building raw material edged up 0.31 per cent while non-residential building material got down by 0.10 per cent.

Quarry raw material soared high by 11.63 as a result of a significant in the prices of stone, sand and gravel leading to a similar increase in the prices of residential and non-residential prices.

The fluctuations in the prices of process industries materials upwards and downwards contributed to limiting the decline in the index for this category which decreased by 0.27 per cent, with the prices of refined petroleum products dropping sharply by 32.89 and the price of basic metal products such as construction iron and aluminium products falling by 7.04 per cent.

Furniture prices got down by 3.18 per cent, computers and electronics and optical products by 2.79 per cent, equipment and other instruments such as faucets and spigots by 1.46 per cent with chemical products edging down by 1.27 per cent, wood products barring furniture by 1.00 per cent with other non-metal products, including cement and its products by 0.37 per cent.

In the meantime, the price index for electrical equipment including prices of electronic and electric cables increase by 6.09 per cent, while the prices of rubber products and plastics rose by 2.94 per cent, and prices of metal vessels and tanks by 2.62 per cent.

The drop in the prices of refined petroleum products like the prices of engines fuels and liquid fuels led to a drop in the index for this section by 32.89 per cent as a result of the drop in the diesel prices by 32.89 per cent; it is worth noting that the change in the index was equal for all types of building with a percentage of 32.89.

The price index for chemicals and chemical products dropped by 1.27 per cent as a result of the drop in the price of all the materials in this section where the price of the materials listed under the paints, polishes and varnish dropped by 1.27 per cent and the impact of the change in the prices was equal for all types of buildings and reached 1.27 per cent.

The price index for rubber and plastics rose by 2.94 as a result of the increase in the prices of plastic products such as pipes, hoses and hose connectors by 3.71 per cent and the prices of other rubber products declined by 2.70 per cent. Upon studying the report, it was found that the prices of rubber and plastic products for non-residential buildings rose by 3.27 per cent while the prices for residential buildings rose by 2.77 per cent.

The price index for other non-metal products rose by 2.94 per cent due to the increase in the prices of plastic products, including plastic pipes and hoses and their connections by 3.71 per cent, with other plastic products decreasing by 2.70 per cent. The price index for non-metal products decreased by 0.37 per cent due to a 3.55 per cent drop in the prices of stones, marble and alabaster.



from Construction Realestate


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