Tuesday, December 26, 2017

Completed constructions in Abu Dhabi surge 3.6pc in Q3

A total of 1,104 buildings have been completed in Abu Dhabi, UAE during the third quarter (Q3) of 2017, reflecting a growth of 3.6 per cent from 1,066 buildings during the corresponding period last year, a report said.

The number of completed developments during Q3 increased by 16.7 per cent against Q2, 2017 during which a total of 913 buildings were completed, reported Emirates news agency Wam, citing data from Statistics Centre- Abu Dhabi (SCAD).

Industry analysts anticipate more significant growth over the next year after the establishment of a number of housing and infrastructure developments has been approved, the report said.

In terms of geographical diversification, up to 595 buildings have been established in Abu Dhabi Region, which accounts for 54 per cent of total buildings completed emirate-wide during Q3. Up to 491 buildings were completed in Al Ain City, making up 44.5 per cent of total completed buildings in the emirate, while the rest having been completed in Al Dhafra Region.

According to SCAD figures, residential buildings totalled 951, accounting for 87 per cent of completed buildings during Q3 in addition to 33 public facilities, 49 industrial buildings, and 43 facilities, classified as residential and commercial buildings together with two agricultural buildings.

The Mohamed bin Zayed City in Abu Dhabi came first in terms of completed buildings, comprising 26.7 per cent thereof, followed by Beni Yas (10.9 per cent) , Al Shamkha (9.1 per cent), Khalifa City (7.4 per cent), while the rest of completed units are spread over the remaining areas of the capital.

The rough estimate of cost per sq m reached up to Dh2,645 ($720) for buildings ranging between 300-599 sq m in Abu Dhabi, and up to Dh2,118 for same sized buildings in Al Ain, and Dh1,876 in Al Dhafrah, with average building cost per sq m emirate-wide standing at Dh2,246.

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