The coronavirus came unalarmed and not a single sector got spared and without losing the spirit, we all are still in the journey of a speedy recovery. The construction industry is one of them. The whole world is changing with whatever they have left with and UAE is one such country making speedy recoveries. While the recovery process is happening, we could also see some other factors regarding the industries to undergo a massive change. One such factor to be taken into account is the price of the materials. Now we are going to take a closer look towards that drastic change in the price of building materials in UAE.
The prices of building materials in UAE literally dropped during this pandemic. This includes the cost of manpower and some building materials. To be specific, the average cost of construction labour dropped by 20.5 percent and meanwhile, the diesel prices edged down by 8.4 per cent in the month of April when compared to that in the month of March this year. And according to the reports, the steel prices also got lessened by 2.7 per cent. The price of steel dropped because the demand for steel in the market dropped by more than 50 per cent all of a sudden during the pandemic. If you compare the prices to the last year during the same period the average cost of construction labour fell by 28.09 per cent, while diesel prices posted a 17.3 percent decrease. Price of power cables also dropped 12.2 percent every year. The prices of cement increased by 0.9 per cent, and that of concrete by 0.1 per cent in April compared to the month of March. That is not all, the average prices of natural stone took a leap by 6.4 per cent year-on-year, while the wires for small building and stainless steel sinks with single mixers crossed by 3 per cent and 2.6 per cent.
When it comes to man work, the developers and contractors in the UAE had to collaborate with lazy civil works, which eventually caused delayed delivery of materials and limited workforce, while some suppliers fastened with rock-bottom prices due to the pandemic.
Trouble was inevitable this time but still, every sector is working hard to fall back in place. Hopefully, the construction industry along with all its departments are making progress meanwhile.