Construction Cost Index in Abu Dhabi down by 0.8% in Q1
The Construction Cost Index, CCI, decreased by 0.8% in the first quarter of 2019 compared with the first quarter of 2018, Statistics Centre – Abu Dhabi, SACD, said in its first quarter CCI report on tower buildings projects.
The index decreased from 99.0% in the first quarter of 2018 to 98.1% in the first quarter of 2019. The CCI increased by 0.2% in the first quarter of 2019 compared with the fourth quarter of 2018. It showed that the index increased from 97.9% in the fourth quarter of 2018 to 98.1% in the first quarter of 2019.
Services group contributed by 70.3% in the overall decreased in the prices in the first quarter of 2019 compared with the first quarter of 2018, for which prices decreased by 12.7%. The construction group contributed by 76.3% in the overall increase in the prices during the first quarter of 2019 compared with the fourth quarter of 2018. The prices of this group rose by 1.3%.
SCAD compiles the CCI according to the ten main groups of the construction cost index basket with a base year of 2013.
The selected sample of items included in the Construction Cost Index basket uses actual data collected from the Contractors Association in Abu Dhabi. The sample of sources (building materials and construction service providers) were selected in such a way to represent the market condition across the Emirate of Abu Dhabi.
Fulya Altunyay/[email protected]