Price of UAE electric wires for apartments sees 23% hike in 2018
The cost of buying electric cables used to wire up newly-built properties has increased by more than a fifth, a report by Statistics Centre – Abu Dhabi
Electric wires prices have increased by 23.3% year-on-year, according to Statistics Centre – Abu Dhabi (SCAD).
The wire cost increase is higher than any other cost hike on materials used in construction, when comparing SCAD data for April 2018 with April 2017.
Diesel followed in second place, rising by 23.1% year-on-year, while the cost of roofing materials increased by 9.4% during the same period, according to the report by SCAD.
While wires, diesel, and roofing materials registered a year-on-year price hike, the cost of other construction materials declined during the 12-month period.
Average paint prices dropped 5.3%, cement declined by 2.6%, while concrete costs have remained relatively stagnant, declining by 0.5% during the same period.
However, when comparing the average price fluctuations between March and April 2018, concrete prices increased by 2.3% month-on-month.
Roofing materials rose by 7.2% between March and April 2018, and the cost of bathroom sets without accessories increased by 3.8% during the same period.
Tiles and marble (2.4%), power cables (1.7%), and diesel (1.2%) all recorded average price declines during March and April 2018, according to SCAD's report.
SCAD monitors the price of 21 building materials owing to the rapid pace of construction in the UAE, and its data is based on a monthly survey of material costs that it analyses in-house.
This data provides the industry with valuable insight on the cost of materials regularly used for construction work, helping contractors and developers plan and determine the cost of their projects and make informed material procurement decisions, WAM reported.
Separately, Oman is one of only two markets in the world that has seen a decline in the cost of construction during the last 12 months.
A survey from Turner & Townsend that looked at the cost of construction in 46 key markets reported that only Muscat and Perth, Australia, had seen a decline in the cost of construction. By contrast, the cost of construction in the UAE was reported to have increased by around 2% during the 12-month window.