Scad: Q1'19 tower construction cost index down 0.8% in Abu Dhabi
Statistics Centre – Abu Dhabi's Construction Cost Index reached 98.1% in Q1'19 from 99% in the first quarter of 2018
The Construction Cost Index (CCI) decreased by 0.8% in the first quarter of 2019 compared to Q1 2018, Statistics Centre – Abu Dhabi (Scad) said in its Q1 CCI report on tower projects, reaching 98.1% this year from 99% in the first quarter of last year.
The CCI increased by 0.2% in the first quarter of 2019 compared to Q4 2018, reaching 98.1% this year from 97.9% in the last quarter of 2018.
Prices in the service group declined by 12.7% in Q1 2019, with prices in the construction group increasing by 1.3% during the period.
Scad compiles the CCI by ascertaining the values of 10 main groups within its basket with a base year of 2013.
The values of these items are collected using the data of Contractors' Association in Abu Dhabi, UAE state news agency, Wam, reported.
The sample of sources, such as building materials and construction service providers, are to represent market conditions across Abu Dhabi.