Scad says Abu Dhabi construction cost index down 0.1% in Q4 2018
Construction cost declines by 0.1% between Q4 2018 and 2017 as manpower costs decline in Q3 2018, Scad data shows
Abu Dhabi’s construction cost index (CCI) decreased by 0.1% in Q4 2018 compared to corresponding figures for 2017, according to data released by Statistics Centre – Abu Dhabi (Scad).
The Q4 2018 index declined to 97.9% from 98% in Q4 2017, state news agency Wam reported, adding that the overall CCI declined by 0.2% between Q3 and Q4 2018.
Manpower costs contributed significantly to the overall decrease in Q4 2018 prices, compared to the third quarter of the last year.
Data for CCI, a statistical indicator for the purposes of planning and research in various disciplines, is obtained from the quarterly survey of building materials and services. Scad compiles the numbers according to the 10 main groups of the CCI basket, with 2013 used as the base year.
The CCI report comes days after Scad unveiled Abu Dhabi’s Q4 2018 gross domestic product (GDP) report, which stated that the emirate’s GDP surged by 12.9% in Q4 2018 compared to Q4 2017.
Accordig to Scad's report, the increase in economic activity was attributed to significant contributions from oil activities, which rose by 33% during the period, whilst non-oil activities increased by 1.6% in Q4 2018.