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FINANCIAL NEWS
UAE tender costs decline 1.5% by September
07 Nov 2011
(MENAFN) EC Harris, in its latest Market View Report, said that UAE witnessed a decline in tender inflation by 1.5 percent in the nine months to September, Arabian Business reported.
According to the report, the falling costs of commodities across the globe is taking the pressure off tender prices across the country.
The report also unveiled that the prices of rubber, steel beams, copper and crude oil have all decreased over the past three months falling by 10 percent, two percent, eight percent and two percent respectively.
EC Harris added that material prices and construction labour rates are likely to remain flat, as market is expected to show little improvement during the fourth quarter of 2011.
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