| Construction costs in the UAE will fall in 2012 due to the unexpected slowdown in the country's projects market in 2011, a new report from construction industry cost tracker MEED Cost Indices (MCI) has revealed.
In the research report published on 30 January, MCI forecasts that construction costs in the UAE will fall by 1.3 per cent in 2012. The drop is the result of a fall in demand for construction materials due to a contraction in the UAE project market, which witnessed a 52 per cent slump in the value of contracts awarded in 2011 compared to 2010. (Press Release)
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