Abu Dhabi: The prices of steel bars in Dubai’s construction industry fell an average of 14.5 per cent during the third quarter of this year compared to the same quarter last year, according to the Dubai Statistics Centre.
In a report issued on Wednesday comparing the prices of construction materials, the centre said that in the cement category, the prices of gypsum declined by 7.8 per cent, while lime and Portland cement prices fell 0.89 per cent and 0.6 per cent respectively.
In the aggregates and sand category, the price of red sand rose by 3.6 per cent as aggregates increased by 3.23 per cent. The prices of white cement and sulphate resistant cement remained stable in Q3 compared the same time last year.
In 2015, some of the key players in the UAE’s construction industry reported significant losses, with Arabtec announcing Dh2.34 billion in net losses in the first nine months of this year — Dh1.02 billion of which were in the third quarter alone.
Similarly, Drake and Scull International reported Dh951 million in net losses in the first nine months of 2015, and Dh985.5 million in net losses in the third quarter alone.
