Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - Construction labour average cost drops  Join our daily free Newsletter

MENAFN - Khaleej Times - 24/12/2013
No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) The average cost of construction labour fell 6.5 per cent month-on-month in November 2013, as wages of some skilled workers declined.

According to Statistics Centre - Abu Dhabi, or Scad, the average cost of construction labour dropped on the back of declines in the wages of electricians by 11.1 per cent and 8.3 per cent in the wages of carpenters and blacksmiths, respectively.

In its monthly report on the prices of building materials for the month of November 2013, Scad however said that wages increased 8.5 per cent year-on-year during the month, reflecting increases in the wages of most of the trades making up the group.

An owner of a small construction company agreed that wages have dropped.

Zubair Mir, managing director of Abu Dhabi-based M/s Perth General Contracting, attributed the decline to several reasons, and said that employers were taking undue advantage of it.

For example, he said that labour market dynamics, currency fluctuations and the economic decline in Asian countries have weakened the workers' ability to negotiate.

Mir also added that the cost of hiring a construction worker was higher compared with the shrinking profit margins which were lowering due to cut-throat competition.

The wages contribute between 30 per cent to 40 per cent to the overall expenses of a construction company, and any decline in it means rise in earnings, Mir pointed out.

Other problems that have made financial problems worse for small construction firms include delays in payments by the main contractors, which also effects the wages.


The Scad report also compared the prices of construction materials in the Abu Dhabi retail market in November. Slight changes were observed in the average prices of building material groups in November compared with October, with increases ranging from 0.1 per cent for the steel group to 0.9 per cent for the wood group. The average prices of steel rose 0.1 per cent, reflecting increases in the prices of most items within this group. However, the average prices of power cables declined one per cent month-on-month. Scad reported decreases in the average monthly prices of 10 groups of building materials during November compared with the same month in 2012.

The average prices of the block group decreased by 8.4 per cent in November compared to last year, as all of the items constituting the groups underwent a decrease of 5.2 to 13.9 per cent.

The average prices of wires decreased in November compared to a year earlier. Wires for apartments accounted for the largest fall 5.3 per cent.

The steel group declined 7.8 per cent in November compared to the same month last year, showing decreases that ranged between 1.1 per cent in January 2013 and 7.8 per cent in November 2013. However, the average prices of stone rose 18 per cent year-on-year in November.

The average prices of aggregates and sand increased by 17.4 per cent year-on-year, 2013 as most of the items in the group recorded increases ranging between 5.9 per cent and 40 per cent.
MENAFN2412201300490000ID1093747097

 


Khaleej Times




  MENA News Headlines
 Jan 20 2017 - Saudi's Bahri records USD469mn net profitMENAFN
(MENAFN) National Shipping Co. of Saudi Arabia (Bahri), a pioneer in logistics and transportation has posted a net profit of USD469.3mn in 2016.Moreover, the firm recorded net revenue of USD1.8bn and ...

 Jan 20 2017 - UAE's real estate sector to increase this yearMENAFN
(MENAFN) The UAE real estate sector, spearheaded by its two main markets Dubai and Abu Dhabi, will make positive increase this year.Furthermore, the diversity of the UAE economy helped the country ...

 Jan 20 2017 - Mideast debt issuance reaches USD77bnMENAFN
(MENAFN) Middle Eastern debt issuance reached USD77.8bn in 2016, a 145 percent increase compared to the value raised amid 2015, the highest annual total in the region since 1980.Moreover, Mideast ...

 Jan 20 2017 - Qatar- Construction boom brings travel miseryGulf Times
(MENAFN - Gulf Times) The traffic along the road between Barwa Village signal and Mesaieed has become a nightmare for commuters owing to a huge increase in the movement of heavy vehicles, especially ...

 Jan 20 2017 - Qatar- Souq Waqif Spring Festival gets off to a colourful startGulf Times
(MENAFN - Gulf Times) An array of cultural performances and stage shows marked the opening of this year's Souq Waqif Spring Festival, which will run until February 2, from 3.30pm to 10.30pm daily. ...

 Jan 20 2017 - Qatar- Traders, customers lament absence of ATM at Ain Khalid SouqGulf Times
(MENAFN - Gulf Times) Shopkeepers as well customers at the Ain Khalid Souq have rued the absence of an ATM at the complex which houses dozens of commercial outlets, offices and restaurants. The ...

 Jan 20 2017 - Qatar- New deal extends helping hand to bereaved orphansGulf Times
(MENAFN - Gulf Times) Qatar Red Crescent Society (QRCS) has signed a memorandum of understanding (MoU) with Hamad Medical Corp (HMC) to provide aid for young orphans whose family breadwinner dies ...

 Jan 20 2017 - Mwani Qatar launches diabetes awareness driveGulf Times
(MENAFN - Gulf Times) Qatar Ports Management Company — Mwani Qatar, in association with the Qatar Diabetes Association (QDA), has launched a campaign to raise diabetes awareness among its ...

 Jan 20 2017 - QRCS' projects in S Sudan benefit thousandsGulf Times
(MENAFN - Gulf Times) The Qatar Red Crescent Society (QRCS) has completed a number of water, sanitation, and hygiene (WASH) projects in Central Equatoria and Northern Bahr El-Ghazal, in South Sudan ...

 Jan 20 2017 - Emirates Airline Literature Festival tickets go on saleGulf Times
(MENAFN - Gulf Times) Tickets are now on sale for the ninth Emirates Airline Festival of Literature, the organisers have announced. The annual literary extravaganza brings a host of top authors to ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help