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FINANCIAL NEWS
Qatar the most expensive construction market in GCC, MEED
29 Oct 2012
(MENAFN) A new study conducted by MEED found that Qatar has become the most expensive construction market in the Gulf region in terms of raw materials costs, Arabian Business reported.
The Q3 Construction Costs & Outlook Report said construction materials costs in Qatar are on average 12 percent higher than in the UAE for construction materials, and 4.5 percent more expensive than Saudi Arabia.
The largest LNG exporter in the world is witnessing rapid uptrend inflation in materials costs, driven by fast growth in construction activity on the back of its programme to host the 2022 FIFA World Cup Qatar, MEED said.
Average rate per tonne for rebar in Qatar is 32 percent higher than in the UAE, according to the study.
It also found that although the price for a 50kg bag of cement is only 3.5 percent higher than in the UAE, the cost of concrete is 28.6 percent higher.
The report also indicated that the demand for cement will peak in 2015.
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