Construction costs to jump 20 pct in 2008
Construction costs in the United Arab Emirates could jump by a fifth next year on higher raw material and labour costs, according EC Harris consultancy.
Costs for materials such as cement and steel could rise 19 percent during the next 12months, London-based international real estate and construction consultancy EC Harris said, according to the Dubai-based newspaper.
Costs of materials have risen between 15 percent and 20 percent this year.
Costs for materials such as cement and steel could rise 19 percent during the next 12months, London-based international real estate and construction consultancy EC Harris said, according to the Dubai-based newspaper.
Costs of materials have risen between 15 percent and 20 percent this year.
Construction costs rose 25 percent in 2006, as the estimate for 2007 is not yet released.
An amnesty for 345,000 illegal foreign labourers earlier this year -- allowing them to return to their home countries without penalty -- is driving wages higher.
An amnesty for 345,000 illegal foreign labourers earlier this year -- allowing them to return to their home countries without penalty -- is driving wages higher.
No comments:
Post a Comment