Construction costs down 71% since Aug

[PropGuy]

http://www.business24-7.ae/articles/2009/2/pages/02082009_1477193005e94e3e945c8c74dd85141e.aspx

Construction costs in Dubai have fallen by 70.83 per cent from their peak of Dh1,200 per square foot in August 2008 to about Dh350 per sqft today, industry sources said.

end users should get these savings in construction

 

[georgihh]

http://www.business24-7.ae/articles/2009/2/pages/02082009_1477193005e94e3e945c8c74dd85141e.aspx


end users should get these savings in construction

Construction cost never been as high as 1200 this was pure speculation.
The cost has been 100 – 400 DHS for the last 5 years.
The developers must reduce the margins and everything will be OK.
250-300 DHS cost and 500 DHS sell - is acceptable

 

[mpat]

Construction cost never been as high as 1200 this was pure speculation.
The cost has been 100 – 400 DHS for the last 5 years.
The developers must reduce the margins and everything will be OK.
250-300 DHS cost and 500 DHS sell - is acceptable

Rightly said; I spoke to a developer and was surprised when he told me that if there is any reduction in steel , cement or construction price , we ( developer ) get benefitted as well as the contractor becos then we re negotiate the contract value.

I guess this is one of the reason that many projects are seen on hold ( mid way of construction ) , developers are bargaining with poor construction companies. . .