Image credits: J van der Wolf/Shutterstock.com
Abu Dhabi building material prices down
Abu Dhabi, December 24, 2012
There was a major drop in the prices of various materials used in the construction industry in Abu Dhabi retail market in November compared to the same period last year, said a report.
Varying changes were reported in the average prices of building materials in November with increases ranging between 0.3 per cent for the "wood" group to 5.6 per cent for the "glass" group, the WAM news agency reported citing data from Statistics Centre - Abu Dhabi (SCAD).
The price falls were also recorded over the period, ranging between 0.4 per cent for the "paints" group and 9.3 per cent for the "construction labour costs" group.
The average wages of construction labour decreased by 9.3 per cent in November compared to October 2012 as falls were recorded in wages for most of the trades under this group, ranging from a drop of 5.9 per cent for semi-skilled workers to 16.7 per cent for both carpenters and metal fabricators.
The average prices of "power cable" decreased by 2.6 per cent in November 2012, as a result of decreases in all the items of this group.
The average prices of "glass" increased by 5.6 per cent in November 2012, reflecting increases in "mirror glass 4 mm m Saudi Arabia" by 24.1 per cent and in the "glass 4 mm m Saudi Arabia" by 5.6 per cent compared with October 2012.
SCAD reported an increase of 2.4 per cent in the average prices of the "cement" group in November compared to October, owing to a rise of 15.4 per cent in the price of "Sulphate resistant Al- Etihad UAE" cement.
However, the average month-on-month prices of "wires for small buildings" and "wires for residential towers" decreased by 3.4 per cent and 3.2 per cent respectively in October, while the average prices of "wires for apartments" advanced by 1.5 per cent, said the report.
The average prices of steel decreased by 1.8 per cent in November compared with October, while the average m-o-m prices of "concrete" group advanced 2.2 per cent reflecting increases in all items within this group.
According to SCAD, decreases were recorded in the average monthly prices of 12 groups of building materials during November compared to last year. The falls ranged between 0.7 per cent for "paints" and 20.2 per cent for "wires for apartments".
The largest fall in November prices year-on-year was recorded in the average prices of "wires", led by the decrease in "wires for apartments" (down 20.2 per cent), while "wires for residential towers" and "wires for small buildings" decreased by 15.6 per cent and 14.1 per cent, respectively.
The average prices of (PVC) pipes fell 10.2 per cent, as most items in this group.
The SCAD pointed out that the glass group led the monthly y-o-y rises in average prices, growing by 18.1 per cent in November compared to the same period last year.
Since the beginning of the current year, increases glass prices ranged between 2.8 per cent in January and 18.3 per cent in May compared with the same period in the previous year.
The average prices of "tiles and marble" climbed 6.8 per cent in November, while prices of "concrete" jumped 4.6 per cent compared to last year.-TradeArabia News Service
More Construction & Real Estate Stories
- Indian group plans $300m Bahrain Bay investment
- Drake and Scull awards key supply contract
- FCC wins $702m Doha metro line contract
- SPF Realty sees Dubai project success
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts
- Emaar offers 330 apartments in MBR City
- Dubai Design District sees big demand
- HUGE DEAL: Arabtec inks $40bn Egypt housing project
- Galfar ex-CEO gets 15 years' jail over bribes
- $32m BFH car park work underway
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah