Construction Cost Index up 3.2% in Q2:SACD


ABU DHABI, 4th October, 2018 (WAM) -- The Construction Cost Index (CCI) in the emirate of Abu Dhabi increased by 3.2 percent in the second quarter of 2018 compared with the second quarter of 2017, according to figures released by Statistics Centre - Abu Dhabi (SCAD) on Thursday.

''The index increased from 96.1 percent in the second quarter of 2017 to 99.1 percent in the second quarter of 2018,'' SCAD noted.

''The CCI increased by 0.2 percent in the second quarter of 2018 compared with the first quarter of 2018.

The index rose from 99.0 percent in the first quarter of 2018 to 99.1 percent in the second quarter of 2018.'' ''Manpower group contributed to the overall increase in the prices in the second quarter of 2018 compared to the first quarter of 2018, for which prices increased by 8.1 percent, and the weight for this group is 29.5 percent,'' SACD indicated.

The prices of finishing materials group decreased by 1.5 percent in the second quarter of 2018 compared to the first quarter of 2018. The weight for this group is 26.0 percent.

The CCI is an important statistical indicator for the purposes of planning and research in various disciplines. Statistics centers and agencies in different countries consistently compile these indices, based on the prices of a group of building materials and construction services commonly used during the construction process. The figures thus calculated constitute a time series that provides a measure of changes in the cost of construction over time.

SCAD compiles the CCI according to the ten main groups of the construction cost index basket with a base year of 2013.

 

WAM/Tariq alfaham/Hassan Bashir