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FINANCIAL NEWS
Abu Dhabi’s construction labor costs down 8.6% in Nov
14 Dec 2011
(MENAFN) Statistics Centre Abu Dhabi (SCAD) said that last month, cost of construction labor in the emirate dropped 8.6 percent from October, reported Gulf News.
SCAD added that the fall in the prices of some of the building materials showed a slowdown in construction activity, adding that demand declined as a result of the government’s plan to reduce spending on infrastructure investment and economic development initiatives, combined with slowing global economic activity,
It also said that that prices of PVC pipes went down 3.8 percent in November from the previous month, and the prices of blocks slipped 3.4 percent, while UPVC pipe prices dropped by 2.8 percent, however, prices of sink stainless steel with mixer-single grew by 7.3 percent, with prices of items within this group rising by 3.8 percent to 10 percent.
It is worth noting that prices in the transport equipment rents group increased 25.5 percent in November from 2010’s same period, followed by the prices of aggregates and sand, which jumped 19.7 percent.
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