According to a recent update by Statistics Center – Abu Dhabi (SCAD), the region construction market has been very little fluctuation when compared to the previous year.
SCAD’s Construction Cost Index (CCI) numbers remained unchanged in the first quarter of 2020 compared with the first quarter of 2019 with the index at 98.0 percent in both corresponding quarters.
The numbers showed that the CCI declined by 0.4 percent in the first quarter of 2020 compared with the fourth quarter of 2019 where the percentage came down from 98.4 in the fourth quarter of 2019 to 98.0 percent in the first quarter of 2020.
Prices in ‘Manpower’ group basket declined by 2.8 percent in the first quarter of 2020 compared with the first quarter of 2019. While prices of construction materials and mechanical works – A/C lowered by 2.6 percent and 2.2 percent respectively.
The Construction Cost Index
The Construction Cost Index (CCI) measures changes in cost for production factors predominantly in living space construction contributed by materials of various types, equipment, salaries, transport, etc. The index does not take account of the market situation but is based on measurements of a number of goods and salaries. Index figures are calculated for multi-dwelling buildings, collectively built one- or two-dwelling buildings and agricultural buildings in total and by major type of cost.
CCI is an important statistical indicator for the purposes of planning and research in various disciplines.
The present SCAD report covers only the relative importance of each one of the main construction groups for towers. SCAD said that further development of the index will add the rest of the construction sectors, according to the construction classification used in the Emirate of Abu Dhabi.
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