The Department of Planning and Economy (DPE) – Abu Dhabi today released the second edition of the Building Materials Index in a bid to check any price manipulation by some vendors.
DPE said the current boom in the construction sector worldwide has brought about a corresponding increase in the prices of building materials in the emirate.
It expressed hopes that “project owners will find this index useful as it will keep them informed about pricing trends.
“This information will further help them avoid possible disagreements with contractors,” it said.
According to the DPE’s index, iron, wood, and cement are on top of the list of building materials which recorded considerable increase recently.
The DPE index shows that a ton of Korean iron used for building bridges rose last month to Dhs. 6, 250 as compared to Dhs. 5,500 in June, recording a 14% increase. Simplified iron rose by 12 percent from Dhs.5, 490 in June to Dhs. 6, 150 in July. Block prices rose for the first time this year by 42% last month.
The average ton of bitumen 60/70 reached Dhs.420 in July against Dhs.382 in June, recording a 10% increase.
Prices of glass, wood and cables remained stable throughout July, according to the index.
WAM
