International Construction Cost Survey 2013
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A brighteroutlookInternational constructioncost survey 2013
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After an unprecedented period of global economic
instability, things are beginning to slowly improve.
Many markets remain fragile but its clear that sentimentis improving. With recovery comes opportunity, and some
key markets around the world are showing sustainable
signs of growth.
Given this context, our international construction cost
survey 2013 makes for interesting reading. Data gathered
by our people around the world reects major projects
and programmes in every sector. Our team of construction
economists provides expert analysis and ensure the data
is as robust as possible, given the ever-shifting nature
of such information.
This report contains data from 23 countries, with Brazil,
Poland and Uganda appearing for the rst time. Clients
planning major programmes of work will nd this a useful
decision-making tool that helps them compare future
construction costs between countries and regions.
To allow true country-to-country comparisons to be made,
we have introduced purchasing power parity methodology
this year to calculate construction costs. Developed by
Turner & Townsend with Bond University in Australia,
our construction purchasing power parity index takes
out the impact of exchange rate volatility. This is a newapproach for construction, and one we believe will become
signicant (more about this on page 58).
Contact us if you require any more information about this
survey or if you need data and advice that can help inform
decision-making for your project or programme.
Vincent Clancy
Chief Executive Ofcer
Foreword
Overview 1
Australia
Brazil
Canada
China
Germany
Hong Kong
India
Ireland
Japan
Malaysia
Netherlands
Oman
Poland
Qatar
Russia
SingaporeSouth Africa
South Korea
UAE
Uganda
UK
US
Vietnam
12
14
16
18
20
22
24
26
28
30
32
34
36
38
40
4244
46
48
50
52
54
56
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The global outlook for construction
is the most positive we have seen
since the nancial crisis began in2008. Of the 23 markets included
in this survey, 13 expect to see moreprojects starting in the year ahead
than they did in the previous
12 months.
Asia, parts of Europe, the Middle East
and the US are all warming up (see
Figure 1). Investment in housing and
infrastructure is building momentum
for stagnant economies and projects
which had been on hold since thenancial crisis began. These are
now going out for tender.
The start of a global recovery
is a great time to build. First-moveradvantages include stabilisedconstruction costs, reduced schedule
risk and the delivery of projects as
demand is increasing. In many regionstender prices are becoming more
competitive and there are plenty
of rms keen to bid.
Of course, some developers will prefer
to watch and wait before makingtheir move. In the rst fragile stages
of recovery, world events can erode
market condence overnight, and
there are likely to be headwindsstill to come.
Stable costs are the trend, butthere are exceptions. In emerging
economies including China, India,
Malaysia, Russia and South Africa, construction costs are expected torise steadily. And in certain hotspots
Brazil and Qatar, both future WorldCup hosts costs are also forecast
to increase strongly.
With recoverycomes opportunityThe economic tide has turned and there is reason to be
optimistic. Construction markets around the world are
showing the rst signs of recovery and shelved projects
are being dusted off. The results of our 2013 survey
of international construction costs reveal where the
potential opportunities might be for early movers.
Figure 1. More projects in the next 12 months
for over half the markets surveyed
We asked our people around the world whether they expected more, fewer or the
same number of projects to start in the next 12 months compared to the previous
12 months. Of the 23 markets surveyed, 13 expect more projects to start, with four
predicting no change and six expecting fewer projects.
Cooler
Fewer projectsthan last 12 months
China
India
Netherlands
PolandSouth Africa
South Korea
Staying the same
Similar number ofprojects to the last12 months
Australia
Hong Kong
Ireland
Vietnam
WarmerMore projects startingthan last 12 months
Brazil Russia
Canada Singapore
Germany UAE
Japan UgandaMalaysia UK
Oman US
Qatar
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the cost increaseof building ofcesin India
+25%
Purchasingpower paritymethodology allowsa true comparisonbetween countries
We can see some of these trends
emerging through our cost index
benchmarking of high-rise apartmentsand ofces in central business districts
(see Figures 2 and 3). So, for example,
while costs for ofces in the UK have
risen just four percent between 2010
and 2013, comparable costs in Indiahave risen 25 percent.
Over the following pages, we present
the ndings of our 2013 international
construction cost survey. The datacomes from current construction
programmes, and reects prices at
the middle of 2013. All costs exclude
VAT and applicable sales taxes.
Purchasing power parity:
a new way to compare markets
For those who want to drill downfurther into our data, we have
included output costs (cost per
square metre) and input costs (labour,
materials and plant) for each type
of building and geographical market
on pages 12 to 57. The costs are
shown in the local currency, in US
dollars and as a purchasing power
parity value.
The methodology allows a true
comparison between countries,removing the impact of varyingcurrency exchange rates. The higher
the purchasing power parity adjusted
cost, the higher the relative costsof building in one country over
another. Though purchasing powerparity indexes are used in somebranches of economics, this method
has rarely been used to compareconstruction costs.
For example, we can see that an ofce
building in a business park in Japan
would cost 24 percent more to buildthan one in the UK; 3,339 purchasingpower parity units per m2for Japancompared to 2,690 units for the UK.Purchasing power parity indicates
the cost relative to the cost of living,so we can see that concrete in China
at 129 is almost half that of India
at 283.
Turner & Townsend worked with Bond
Universitys Centre for Comparative
Construction Research in Queensland,
Australia, to create this construction-
specic index, which we will be
employing and developing over thecoming years. You can read moreabout purchasing power parity on
page 58.
A business park in Japanwould cost 24 percentmore to build than one
in the UK.
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Figure 2. Changes to the cost of central business
district ofces since 2010
Figure 3. Changes to the cost of high-rise
apartments since 2010
Mid-year 2010 2011 2012 2013
Australia 100 102 101 101
Brazil 100 104 108 112
Canada 100 102 103 104
China 100 107 112 118
Germany 100 102 104 106
Hong Kong 100 104 109 115
India 100 108 117 125
Ireland 100 101 100 101
Japan 100 100 100 101
Malaysia 100 105 109 113
Netherlands 100 102 103 105
Oman 100 101 103 105
Poland 100 101 103 105
Qatar 100 100 103 108
Russia 100 104 109 115
Singapore 100 103 105 109
South Africa 100 105 112 120
South Korea 100 102 104 106
UAE 100 100 102 104
Uganda 100 104 108 114
UK 100 102 101 103US 100 100 102 106
Vietnam 100 108 116 124
Mid-year 2010 2011 2012 2013
Australia 100 102 103 105
Brazil 100 104 109 114
Canada 100 102 104 106
China 100 107 113 120
Germany 100 102 104 106
Hong Kong 100 104 109 115
India 100 108 117 125
Ireland 100 102 102 104
Japan 100 100 100 101
Malaysia 100 104 109 113
Netherlands 100 102 104 106
Oman 100 101 103 105
Poland 100 102 104 106
Qatar 100 102 106 111
Russia 100 104 110 116
Singapore 100 104 108 112
South Africa 100 106 114 124
South Korea 100 102 104 106
UAE 100 100 102 105
Uganda 100 105 110 116
UK 100 102 102 104US 100 100 103 107
Vietnam 100 110 119 128
Looking at cost changes for prime property in the residential
and commercial sectors helps us to identify trends and make
predictions for the future. The two charts show construction
costs indexed to 2010 = 100 for high-rise apartments and
central business district ofces, for each region of the
survey based on cost per square metre.
We can see that for most countries, there has been a gradual
rise in costs for both types of building. There are exceptions:
costs have remained more-or-less stable in Australia, Ireland,
Japan and the UK; whereas in China, India, South Africa and
Vietnam, costs have risen more steeply.
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US recovery still fragile
In the past 12 months, the US
economy has begun to pick up,with the impact felt around the
world. Quantitative easing andlow interest rates adopted by theUSs central bank, the Fed, have
contributed to this edgling recovery.
However, there is uncertaintysurrounding the Feds ability to taperthis policy, which could lead to further
problems when it is reduced and,ultimately, stopped.
Suggestions from the Fed in May
this year that it might cut back on
its bond-buying programme overthe coming months had an immediate
and negative effect on global stockmarkets. Investors ditched riskyassets in favour of certainty.
Condence returned after further
assurances from the Fed, butcontinued pressures remain.
Standard & Poors (S&P) 500, which
tracks publicly traded US companies,has recently reached all-time highs
and global funds are moving back
into US dollars as the currencystarts to stabilise. Other markets have
followed the US, only pausing in May2013 as the northern economies tooksummer holidays.
Unemployment in the US is edgingdownwards, and housing construction
is increasing again. The Case-Shiller
20-City-Index, which measures the
value of residential real estate in20 metropolitan areas of the US,
shows a house price growth of 12percent over the past 12 months.
The USs newest industry and source
of energy, shale gas, is also injecting
further growth into the economy.Projects to construct the pipelines andassociated infrastructure are ramping
up, with the prospect of US energyself-sufciency promising a big boost
to the economy.
Falling unemployment and recovering
house prices will encourage USconsumers to spend more, providinga much-needed boost to international
trade and construction. Still, the USrecovery remains fragile, operating
within the connes of a quantitative
easing headwind and continuedgovernment impasses.
Policy changes in Europe?
In contrast to the tactics of theUSs central bank, European
countries have chosen the path
of austerity. However, recent policyannouncements indicate a change
of approach. Expect investment in
infrastructure, which should helprelieve the chronic underemployment
holding several major European
countries back.
Though some European countries,
such as Greece, Portugal and
Spain, continue to suffer fromunderemployment, many parts
of Europe are showing signs
of recovery. Here, forecastsof GDP growth over the nextyear are improving prospects
for construction.
The Middle East is also increasing
its construction activity, reawakening
many of the ambitious projectsthat have been dormant or partiallycompleted since the global nancial
crisis. Some USD1.3tn worth of
construction projects are in the
planning or tendering stages acrossthe region.
Projects such as high-speed rail,
manufacturing plants, heavyindustrial plants, football stadiums,
and housing and cultural precinctsare moving to construction or alreadyunderway. Traditionally, strong
markets such as Dubai are graduallycoming back to full strength andnew construction leaders such
as Qatar are emerging, with bigproject portfolios.
There are other engines of globalgrowth. Japan is making substantial
efforts to stimulate its economy afterdecades of stagnation by pumpingin money, causing the yen to fall
dramatically. The worlds third biggesteconomy is becoming competitive
again, construction is picking up andtrade skills shortages are becominga problem.
US house pricegrowth over thelast 12 months
+12%of Middle Eastconstruction projectsare in the planningor tendering stages
$1.3tn
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Unemploymentin the US is edgingdownwards, andhousing constructionis increasing again
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All change in China
For the past ve years, Chinas growth
has kept the global economy growing
at above three percent, through itsdemand for commodities. Its appetitefor iron ore, copper, coal and oil during
that period drove up commodityprices and spurred a wave of mining
investment. Chinas manufactureand export of cheap goods has alsokept global ination down to below
two percent.
This changed in late 2012, following
concerns about the sustainability
of Chinese growth as their new
political leadership established itself.
Indications show that China has
now entered a new lower-growth
trajectory, although with growth
forecast at seven to eight percent,
it will continue to be an importantdriver of global growth.
Changes in China are felt elsewhere
in the world. Lower commodity priceshave caused the sudden cancellation
of numerous natural resource projects
worldwide, leading to concern in theeconomies of Australia and LatinAmerica, where mining plays
a major role.
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China has now entereda new lower-growthtrajectory, although with
growth forecast at sevento eight percent, it willcontinue to be an importantdriver of global growth.
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Competitive tenders
Though construction marketsaround the world are warming
up, tender prices will not be followingsuit immediately. In two-thirdsof the markets surveyed, there
is strong competition on tenders,with others reporting moderate
competition.
In general, construction costs are
only increasing slowly, often in line
with a countrys general ination.
In many regions, costs have barely
moved for ve years. Flat prices go
all along the value chain: engineers,architects and construction
consultants costs are competitive,and skilled labour is fairly easyto obtain in most markets.
Margins
Contractors margins in developed
economies have been hard hit by
the global nancial crisis. Fierce
tender competition has forcedmany contractors to tender with
very low margins, hoping to pickup additional margin during theconstruction by completing ahead
of schedule, through betterefciency, or negotiating
advantageous deals with
their suppliers.
It is interesting to note that
countries in parts of Africa,Asia, the Middle East and Russia
have indicated higher contractors
margins. A more vibrant constructionmarket allows margins to increasethrough reduced tender competition.
Barriers to entry in some markets
may also limit the number of tendersand help keep margins higher
(see Figure 5).
Preliminaries
Ranging from eight percent
to 15 percent, the spread in the
range of preliminaries costs such
as supervision, project set-up,
scaffolding, and temporary facilities indicates different requirements
between countries. Higher-cost
countries may have higherinclusions, due to elements such
as specications for scaffolding
(based on local safety standards)
and insurance costs (see Figure 6).
Countries or regions where space
restrictions are common, with
awkward building sites, wouldtypically have higher preliminaries.For example, the preliminaries for
a building in New York City might
be expected to be higher thanfor the rest of the US.
We asked our experts how they would describe tender conditions in their local
markets. 16 of the 23 described competition on bids as strong
or intense, limiting the prices of bids.
Intense competition, notmuch work, prices low:
IrelandNetherlands
South Korea
Strong competition,moderate tender prices:
Australia
Canada
China
Germany
Malaysia
OmanSingapore
South Africa
UAE
Uganda
UK
US
Vietnam
Moderate competition,moderate tender prices:
Brazil
Hong Kong
India
Japan
Poland
Russia
Qatar
Figure 4. Strong competition is keeping tenders competitive in the majority of markets
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This chart shows what percentage of a buildings cost a
contractor would typically make as prot on an ofce building
with a gross oor area of 5,000m2. Generally, where work
volumes are lower, margins are squeezed as contractors
lower their tender prices in order to win work.
At the lower end of the range, contractors in Canada, Ireland,
South Korea, Australia, US and UK all currently make less than
ve percent margin. Whereas in South Africa, Uganda, Qatar
and India, margins are relatively high: above ten percent.
This chart shows what proportion of a buildings cost goes on
preliminaries for an ofce with a gross oor area of 5,000m2.
Preliminaries include costs such as scaffolding, approvals,
insurances, power and water, cleaning and handover,
and work supervision.
Typically, higher-cost countries have higher preliminaries.
Regulatory compliance, such as safety and environmental
requirements, adds further preliminary costs.
Figure 5. Wide range of contractors margins tells story of the markets
Figure 6. Difference in preliminaries, depending on projects location
0 2 4 6 8 10 12 14 16 18 20India
Qatar
Uganda
South Africa
Russia
Brazil
Malaysia
Oman
UAE
Singapore
Japan
China
Poland
Hong Kong
Germany
Netherlands
Vietnam
UK
US
Australia
South Korea
Ireland
Canada
Percentage
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Germ
any
Japan
Hong
Kong
Poland
Netherlands
UK
Australia
SouthKo
rea
UAE
Qatar
SouthAfrica
Brazil
Ireland
Singapore
Malaysia
Oman
Vietnam
USIndia
Canada
China
Russia
Uganda
Percentage
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A stable outlook for costs
Materials prices are competitive,and are expected to increase only
slowly for several years. In 201112,high prices for commodities fed intocost hikes for construction products
such as steel, copper cables andcopper pipes. In late 2012, however,
those commodity prices startedto fall. Rises in manufacturing wagesand energy will cause only a gradualprice rise over the next few years.
The cost of manufacturing plants
and equipment is also relatively
stable. European manufacturers
who were hit hard after the global
nancial crisis are likely to have
spare plant and labour capacityfor several years.
Construction wages and salaries
in advanced economies have changed
little since the nancial crisis and are
expected to remain relatively stable.
In contrast, those in China, India,
South Africa and Vietnam will continueto increase strongly, but from a low
base (Figure 7 shows relative labour
costs between markets).
Looking ahead, we forecast modest
rises in construction costs over thecoming 12 months in many markets.Australia, Ireland, the Netherlands,
Poland, Oman and the UAE should
all experience just two percent cost
escalation between mid-2013 and mid-
2014, removing that element of riskfrom projects. At the other end of the
scale, Brazil, Hong Kong, India, Qatar
and South Africa could all experiencecost escalation of six percent or more,with South Africa predicting the
highest escalation, at ten percent(see Figure 8).
cost escalationover the coming12 months inmany markets
+2%
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From this chart, we can see how hourly labour costs compare
in different markets around the world. As might be expected,
construction operatives in the US where parts of the country
are still heavily unionised, enjoy the highest hourly rates in the
world, with size relating to cost (small circles = lower cost).
We asked our experts to predict how much construction costswould rise between mid-2013 and mid-2014. As can be seen from
the chart, we expect a great variation in cost escalation, with
costs in some markets remaining almost at, while others are
rising quickly.
Developers in Ireland, Netherlands, US, Australia, UAE, Omanand Poland will be taking on little risk of cost escalation, with
only two percent predicted. Whereas in countries such as South
Africa, India, Brazil and Hong Kong, rising construction costs
must be an important consideration.
Figure 7. The cost of labour
Figure 8. How much will costs rise over the next 12 months?
Germany
Australia
US
Netherlands
UK
Canada
BrazilQatar
India
Poland
Singapore
SouthKorea
HongKong
Russia
Vietnam
Oman
SouthAfrica
Uganda
UAE
Malaysia
Ireland
Japan
China
0 1 2 3 4 5 6 7 8 9 10
Poland
Oman
UAE
Australia
US
Netherlands
Ireland
South Korea
Malaysia
SingaporeCanada
UK
Germany
Qatar
Uganda
Russia
Vietnam
China
Japan
Hong Kong
Brazil
India
South Africa
Percentage
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Australia
The Australian economy continued to grow during
the period following the global nancial crisis, through
a massive investment in mining and energy projects.
Now that this investment is tailing off, where will thenext growth driver come from?
Housing recovery is set to be the next growth sector.Low interest rates and improving values are starting
to have the desired effect. Fortunately, the high Australiandollar, which plagued the export sector, is now devaluing,offering better opportunities for tourism, attracting
overseas students and services exports.
Meanwhile, domestic non-resources construction
has been hit by low demand, weak condence and
a shortage of projects. This has kept margins low
and tendering very competitive.
International building costsper m2of internal area, in 2013
AUD USD(exchange rate:
1.10)
Purchasingpower parity
Airports
Domestic terminal full service 4,900 4,455 4,900
Low-cost carrier basic service 3,880 3,527 3,880
Carparks
Multistorey above ground 820 745 820
Multistorey below ground 1,220 1,109 1,220
Commercial
Ofces business park 1,860 1,691 1,860
CBD ofces up to 20 oors medium (A-grade) 2,940 2,673 2,940
CBD ofces high-rise prestige 3,260 2,964 3,260
Education
Primary and secondary schools 1,940 1,764 1,940
University 3,140 2,855 3,140
Hospitals
Day centre (including basic surgeries) 2,960 2,691 2,960
Regional hospital 3,400 3,091 3,400
General hospital (eg city teaching hospital) 5,340 4,855 5,340
Hotels
3 star travellers 2,350 2,136 2,350
5 star luxury 3,900 3,545 3,900
Resort style 3,600 3,273 3,600
Industrial
Warehouse/factory units basic 770 700 770
Large warehouse distribution centre 950 864 950High-tech factory/laboratory 1,560 1,418 1,560
Residential
Individual detached house medium standard 1,650 1,500 1,650
Individual detached house prestige 2,160 1,964 2,160
Townhouses medium standard 1,700 1,545 1,700
Apartments private medium density 1,960 1,782 1,960
Apartments high rise 2,440 2,218 2,440
Aged care/affordable units 2,350 2,136 2,350
Retail
Large shopping centre including mall 2,240 2,036 2,240
Neighbourhood incl supermarket 1,900 1,727 1,900
Prestige car showroom 2,500 2,273 2,500
Residential recovery and falling exchange rate to drive growth
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Australia international building costsper m2of internal area
AUD USD(exchange rate:
1.10)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 22 20 22
Excavate footings (m) 36 33 36
Concrete in slab (m3) (1,500m3job) 261 237 261
Reinforcement in beams (tonne) 2,076 1,887 2,076
Formwork to soft of slab (m2) 122 111 122
Blockwork in wall (m2) (10,000 block job) 134 121 134
Structural steel beams (tonne) 2,400 2,182 2,400
Pre-cast concrete wall (m2) 200 182 200
Curtain wall glazing incl support system (m2) (1,000m2job) 620 564 620
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 35 32 35
Single solid core door incl frame and hardware (50 door job) 773 702 773
Painting to walls primer + 2 coats (m2) 14 13 14
Ceramic tiling (m2) (1,000m2job) 110 100 110
Vinyl ooring to wet areas (m2) (500m2job) 52 47 52
Carpet medium tufted (m2) (4,500m2job) 60 55 60
Lighting installation (m2) (5,000m2+ job) 82 74 82
Copper pipe 15mm to wall (m) (1,000m+ job) 61 55 61
Fire sprinklers (per m2) (5,000m2job) 46 42 46
Air conditioning incl main plant (m2) (5,000m2+ job) 250 227 250
Labour
Group 1 tradesman eg plumber/electrician 66 60 66
Group 2 tradesman eg carpenter/bricklayer 59 54 59
Group 3 tradesman eg carpet layer, tiler, plasterer 52 47 52
General labourer 38 35 38
Site foreman 75 68 75
Material
Concrete 30 MPa (m3) (1,500m3job) 225 205 225
Reinforcement bar 16mm (tonne) (120 tonne job) 1,125 1,023 1,125
Concrete block (400x200) per 1,000 (>10,000 block job) 3,394 3,085 3,394
Standard brick per 1,000 568 516 568
Structural steel beams (tonne) (100 tonne + job) 1,550 1,409 1,550
Glass pane 10mm tempered (m2) 240 218 240
Softwood timber for framing 100mm x 50mm (m) 4 3 4
13 mm plasterboard (m2) 8 7 8
Emulsion paint (litre) 12 11 12
Copper pipe 15 mm (m) (1,000m+ job) 12 11 12
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 4 4 4
Plant
Hire 50t mobile crane + operator (day) 2,100 1,909 2,100
Market: staying the same
Tendering: lukewarm
Cost escalation: 2%Contractors margin: 4%
Preliminaries: 12%
Adelaide 95
Brisbane 98
Melbourne 98Perth 96
Sydney 100
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Brazil
Brazils continued growth and ambitious construction
plans for the 2014 World Cup and 2016 Olympics will
add pressure to construction costs, especially in the
venue cities. Skills and equipment shortages are likelyin these areas. However, Brazil is a large country witha large population, and the additional constructiondemand should be within its capabilities.
Over the next ve years, construction spending in the
country is expected to increase at a seven percentcompound annual growth rate. This growth is due
to mammoth public housing and infrastructure projects
across the country, in addition to the major works being
undertaken in preparation for the World Cup and the
Rio Olympics.
While non-residential construction spending growth
is likely to slow down after the build-up to the World Cup
and Olympics, spending on residential construction and
countrywide infrastructure is expected to acceleratebeyond 2016 to 2022.
International building costsper m2of internal area, in 2013
Real USD(exchange rate:2.28)
Purchasingpower parity
Airports
Domestic terminal full service 5,500 2,412 3,125
Low-cost carrier basic service 4,500 1,974 2,557
Carparks
Multistorey above ground 1,650 724 937
Multistorey below ground 2,150 943 1,222
Commercial
Ofces business park 3,300 1,447 1,875
CBD ofces up to 20 oors medium (A-grade) 2,570 1,127 1,460
CBD ofces high-rise prestige 4,060 1,781 2,307
Education
Primary and secondary schools 1,980 868 1,125
University 2,640 1,158 1,500
Hospitals
Day centre (including basic surgeries) 2,640 1,158 1,500
Regional hospital 3,300 1,447 1,875
General hospital (eg city teaching hospital) 3,960 1,737 2,250
Hotels
3 star travellers 2,610 1,145 1,483
5 star luxury 3,470 1,522 1,972
Resort style 3,140 1,377 1,784
IndustrialWarehouse/factory units basic 1,520 667 864
Large warehouse distribution centre 1,960 860 1,114
High-tech factory/laboratory 4,060 1,781 2,307
Residential
Individual detached house medium standard 1,500 658 852
Individual detached house prestige 2,000 877 1,136
Townhouses medium standard 2,200 965 1,250
Apartments private medium density 2,480 1,088 1,409
Apartments high rise 3,330 1,461 1,892
Aged care/affordable units 2,810 1,232 1,597
Retail
Large shopping centre including mall 2,900 1,272 1,648
Neighbourhood incl supermarket 2,610 1,145 1,483
Prestige car showroom 3,960 1,737 2,250
Public spending will maintain growth well beyond the World Cup and Olympics
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Brazil international building costsper m2of internal area
Real USD(exchange rate:
2.28)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 25 11 14
Excavate footings (m) 30 13 17
Concrete in slab (m3) (1,500m3job) 320 140 182
Reinforcement in beams (tonne) 4,800 2,105 2,727
Formwork to soft of slab (m2) 55 24 31
Blockwork in wall (m2) (10,000 block job) 40 18 23
Structural steel beams (tonne) 6,000 2,632 3,409
Pre-cast concrete wall (m2) 800 351 455
Curtain wall glazing incl support system (m2) (1,000m2job) 2,500 1,096 1,420
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 50 22 28
Single solid core door incl frame and hardware (50 door job) 4,200 1,842 2,386
Painting to walls primer + 2 coats (m2) 60 26 34
Ceramic tiling (m2) (1,000m2job) 80 35 45
Vinyl ooring to wet areas (m2) (500m2job) 60 26 34
Carpet medium tufted (m2) (4,500m2job) 60 26 34
Lighting installation (m2) (5,000m2+ job) 150 66 85
Copper pipe 15mm to wall (m) (1,000m+ job) 15 7 9
Fire sprinklers (per m2) (5,000m2job) 40 18 23
Air conditioning incl main plant (m2) (5,000m2+ job) 200 88 114
Labour
Group 1 tradesman eg plumber/electrician 60 26 34
Group 2 tradesman eg carpenter/bricklayer 50 22 28
Group 3 tradesman eg carpet layer, tiler, plasterer 45 20 26
General labourer 30 13 17
Site foreman 80 35 45
Material
Concrete 30 MPa (m3) (1,500m3job) 250 110 142
Reinforcement bar 16mm (tonne) (120 tonne job) 4,000 1,754 2,273
Concrete block (400x200) per 1,000 (>10,000 block job) 1,500 658 852
Standard brick per 1,000 945 414 537
Structural steel beams (tonne) (100 tonne + job) 5,000 2,193 2,841
Glass pane 10mm tempered (m2) 880 386 500
Softwood timber for framing 100mm x 50mm (m) 8 4 5
13 mm plasterboard (m2) 20 9 11
Emulsion paint (litre) 10 4 6
Copper pipe 15 mm (m) (1,000m+ job) 5 2 3
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 3 1 2
Plant
Hire 50t mobile crane + operator (day) 3,200 1,404 1,818
Market: getting warmer
Tendering: warm
Cost escalation: 7%
Contractors margin: 9%
Preliminaries: 11%
Belo Horizonte 87
Brasilia 94
Prto Alegre 81
Rio de Janeiro 101
So Paulo 100
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Canada
The Canadian economy has been one of the strongest
global performers among advanced economies in
recent years. Unemployment is down to 7.2 percent and
a strong resources sector is helping to boost exports andengineering construction. However, growth of 1.7 percent
in the second quarter of 2013 disappointed policymakers,
who were hoping for 2.5 percent.
Construction in most sectors tailed off in late 2012. But by
mid-2013 all sectors, including housing, commercial andindustrial, were picking up again, along with construction
employment, which is now showing moderate growth.
The overvalued Canadian dollar has eased down
ve percent against the US dollar in 2013. This will
shore up Canadas competitive position and
export earnings.
Construction cost increases will be moderate,
with tendering competitive and only small wageincreases. The relatively weak domestic private
sector should improve over 2013 and 2014.
International building costsper m2of internal area, in 2013
CAD USD(exchange rate:
1.03)
Purchasingpower parity
AirportsDomestic terminal full service 5,750 5,583 5,301
Low-cost carrier basic service 4,020 3,903 3,706
Carparks
Multistorey above ground 810 786 747
Multistorey below ground 1,110 1,078 1,023
Commercial
Ofces business park 1,710 1,660 1,577
CBD ofces up to 20 oors medium (A-grade) 2,020 1,961 1,862
CBD ofces high-rise prestige 2,920 2,835 2,692
Education
Primary and secondary schools 1,820 1,767 1,678
University 3,530 3,427 3,254
Hospitals
Day centre (including basic surgeries) 3,730 3,621 3,439
Regional hospital 5,750 5,583 5,301
General hospital (eg city teaching hospital) 6,860 6,660 6,325
Hotels
3 star travellers 1,410 1,369 1,300
5 star luxury 2,820 2,738 2,600
Resort style 2,820 2,738 2,600
Industrial
Warehouse/factory units basic 910 883 839
Large warehouse distribution centre 1,010 981 931
High-tech factory/laboratory 1,410 1,369 1,300
Residential
Individual detached house medium standard 2,870 2,786 2,646
Individual detached house prestige 3,890 3,777 3,586
Townhouses medium standard 1,430 1,388 1,318
Apartments private medium density 1,920 1,864 1,770
Apartments high rise 1,720 1,670 1,586
Aged care/affordable units 2,020 1,961 1,862
Retail
Large shopping centre including mall 2,400 2,330 2,213
Neighbourhood incl supermarket 2,200 2,136 2,028
Prestige car showroom 2,600 2,524 2,397
All sectors picking up, with tenders still competitive
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Canada international building costsper m2of internal area
CAD USD(exchange rate:
1.03)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 15 15 14
Excavate footings (m) 20 20 19
Concrete in slab (m3) (1,500m3job) 192 186 177
Reinforcement in beams (tonne) 1,919 1,863 1,769
Formwork to soft of slab (m2) 121 117 112
Blockwork in wall (m2) (10,000 block job) 105 102 97
Structural steel beams (tonne) 3,283 3,187 3,026
Pre-cast concrete wall (m2) 125 121 115
Curtain wall glazing incl support system (m2) (1,000m2job) 934 907 861
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 45 44 41
Single solid core door incl frame and hardware (50 door job) 1,100 1,068 1,014
Painting to walls primer + 2 coats (m2) 10 10 9
Ceramic tiling (m2) (1,000m2job) 86 83 79Vinyl ooring to wet areas (m2) (500m2job) 66 64 61
Carpet medium tufted (m2) (4,500m2job) 56 54 51
Lighting installation (m2) (5,000m2+ job) 51 49 47
Copper pipe 15mm to wall (m) (1,000m+ job) 66 64 61
Fire sprinklers (per m2) (5,000m2job) 35 34 33
Air conditioning incl main plant (m2) (5,000m2+ job) 165 160 152
Labour
Group 1 tradesman eg plumber/electrician 62 60 57
Group 2 tradesman eg carpenter/bricklayer 56 54 52
Group 3 tradesman eg carpet layer, tiler, plasterer 51 50 47
General labourer 46 44 42
Site foreman 76 74 70Material
Concrete 30 MPa (m3) (1,500m3job) 167 162 154
Reinforcement bar 16mm (tonne) (120 tonne job) 1,400 1,359 1,291
Concrete block (400x200) per 1,000 (>10,000 block job) 1,400 1,359 1,291
Standard brick per 1,000 909 883 838
Structural steel beams (tonne) (100 tonne + job) 2,200 2,136 2,028
Glass pane 10mm tempered (m2) 280 272 258
Softwood timber for framing 100mm x 50mm (m) 5 5 5
13 mm plasterboard (m2) 10 10 9
Emulsion paint (litre) 10 10 9
Copper pipe 15 mm (m) (1,000m+ job) 10 10 9
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 7 7 7
Plant
Hire 50t mobile crane + operator (day) 1,800 1,748 1,660
Market: getting warmer
Tendering: lukewarm
Cost escalation: 3%
Contractors margin: 2%
Preliminaries: 8%
Calgary 113
Edmonton 111
Halifax 95
Montreal 95
Ottawa 103Toronto 100
Vancouver 95
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China
Chinese growth has now settled at a more moderate
level of seven to eight percent, following several years
of very strong growth. The Chinese economy is still
investment led, despite efforts to stimulate domesticconsumption and grow the Chinese middle class.
Once again, housing and apartment constructionis in danger of overheating, although various government
efforts to slow this sector may prove successful fora while. Efforts are being made to encourage more
foreign investment, such as healthcare provision.
Construction in the commercial and retail sectors
is buoyant, but industrial spending appears to beslowing, especially in the more developed southern
and eastern cities.
Though the Chinese market is cooler, tender prices
are still expected to increase, albeit at a lower rate thanin previous years. Labour costs, while still a relatively
low portion of total construction costs, are still growingand are likely to have more of an impact on tender pricesin the future.
International building costsper m2of internal area, in 2013
CNY USD(exchange rate:
6.13)
Purchasingpower parity
Airports
Domestic terminal full service 10,900 1,778 3,282
Low-cost carrier basic service 8,010 1,307 2,412
Carparks
Multistorey above ground 2,140 349 644
Multistorey below ground 4,780 780 1,439
Commercial
Ofces business park 4,690 765 1,412
CBD ofces up to 20 oors medium (A-grade) 7,450 1,215 2,243
CBD ofces high-rise prestige 9,300 1,517 2,800
Education
Primary and secondary schools 3,640 594 1,096
University 5,390 879 1,623
HospitalsDay centre (including basic surgeries) 4,410 719 1,328
Regional hospital 5,350 873 1,611
General hospital (eg city teaching hospital) 5,980 976 1,800
Hotels
3 star travellers 5,780 943 1,740
5 star luxury 15,000 2,447 4,516
Resort style 8,750 1,427 2,634
Industrial
Warehouse/factory units basic 2,580 421 777
Large warehouse distribution centre 3,050 498 918
High-tech factory/laboratory 5,870 958 1,767
Residential
Individual detached house medium standard 4,540 741 1,367
Individual detached house prestige 5,240 855 1,578
Townhouses medium standard 4,110 670 1,237
Apartments private medium density 3,330 543 1,003
Apartments high rise 4,600 750 1,385
Aged care/affordable units 2,710 442 816
Retail
Large shopping centre including mall 6,180 1,008 1,861
Neighbourhood incl supermarket 4,220 688 1,271
Prestige car showroom 3,650 595 1,099
Construction market cools as growth rate slows
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China international building costsper m2of internal area
CNY USD(exchange rate:
6.13)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 34 6 10
Excavate footings (m) 54 9 16
Concrete in slab (m3) (1,500m3job) 560 91 169
Reinforcement in beams (tonne) 5,200 848 1,566
Formwork to soft of slab (m2) 90 15 27
Blockwork in wall (m2) (10,000 block job) 155 25 47
Structural steel beams (tonne) 9,800 1,599 2,950
Pre-cast concrete wall (m2) 210 34 63
Curtain wall glazing incl support system (m2) (1,000m2job) 1,600 261 482
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 180 29 54
Single solid core door incl frame and hardware (50 door job) 2,670 436 804
Painting to walls primer + 2 coats (m2) 48 8 14
Ceramic tiling (m2) (1,000m2job) 210 34 63Vinyl ooring to wet areas (m2) (500m2job) 385 63 116
Carpet medium tufted (m2) (4,500m2job) 390 64 117
Lighting installation (m2) (5,000m2+ job) 320 52 96
Copper pipe 15mm to wall (m) (1,000m+ job) 85 14 26
Fire sprinklers (per m2) (5,000m2job) 280 46 84
Air conditioning incl main plant (m2) (5,000m2+ job) 490 80 148
Labour
Group 1 tradesman eg plumber/electrician 22 4 7
Group 2 tradesman eg carpenter/bricklayer 21 3 6
Group 3 tradesman eg carpet layer, tiler, plasterer 19 3 6
General labourer 13 2 4
Site foreman 31 5 9Material
Concrete 30 MPa (m3) (1,500m3job) 430 70 129
Reinforcement bar 16mm (tonne) (120 tonne job) 4,500 734 1,355
Concrete block (400x200) per 1,000 (>10,000 block job) 3,200 522 964
Standard brick per 1,000 450 73 135
Structural steel beams (tonne) (100 tonne + job) 8,600 1,403 2,589
Glass pane 10mm tempered (m2) 530 86 160
Softwood timber for framing 100mm x 50mm (m) 62 10 19
13 mm plasterboard (m2) 38 6 11
Emulsion paint (litre) 65 11 20
Copper pipe 15 mm (m) (1,000m+ job) 53 9 16
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 18 3 5
Plant
Hire 50t mobile crane + operator (day) 2,100 343 632
Market: getting cooler
Tendering: lukewarm
Cost escalation: 5%
Contractors margin: 6%
Preliminaries: 8%
Beijing 97
Chongqing 100
Guangzhou 92
Shanghai 100
Shenzhen 105
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Germany
Germany achieved a region-leading growth rate of
0.9 percent in the second quarter of 2013 compared
to the same period in 2012. Business condence is now
at its highest level in 16 months, indicating the improvingprospects of the region.
Housebuilding is beneting from low interest rates,
improving demand and a growing preference to hold
physical assets rather than shares. German industryis doing well, with orders continuing to increase. This alsoholds for the building, civil engineering and underground
construction sectors which have grown by nearly tenpercent over the last year.
Some of the major infrastructure projects which added
to this growth rate, such as the Berlin airport and theFrankfurt airport expansion, are, however, coming to
an end. The outlook for commercial and infrastructureconstruction for the immediate future is slightly weaker.
As a consequence, construction cost escalation is mild.
But as the economies of Germanys European neighbours
improve over 201416, German construction activityis set to increase further.
International building costsper m2of internal area, in 2013
EUR USD(exchange rate:
0.76)
Purchasingpower parity
Airports
Domestic terminal full service 2,800 3,684 4,188
Low-cost carrier basic service 1,650 2,171 2,468
Carparks
Multistorey above ground 600 789 897
Multistorey below ground 760 1,000 1,137
Commercial
Ofces business park 1,250 1,645 1,870
CBD ofces up to 20 oors medium (A-grade) 1,940 2,553 2,902
CBD ofces high-rise prestige 2,300 3,026 3,440
Education
Primary and secondary schools 1,540 2,026 2,303University 1,930 2,539 2,887
Hospitals
Day centre (including basic surgeries) 1,970 2,592 2,946
Regional hospital 2,750 3,618 4,113
General hospital (eg city teaching hospital) 3,030 3,987 4,532
Hotels
3 star travellers 1,490 1,961 2,229
5 star luxury 3,250 4,276 4,861
Resort style 2,110 2,776 3,156
Industrial
Warehouse/factory units basic 620 816 927
Large warehouse distribution centre 750 987 1,122High-tech factory/laboratory 1,750 2,303 2,617
Residential
Individual detached house medium standard 1,000 1,316 1,496
Individual detached house prestige 1,390 1,829 2,079
Townhouses medium standard 1,050 1,382 1,570
Apartments private medium density 950 1,250 1,421
Apartments high rise 1,370 1,803 2,049
Aged care/affordable units 1,100 1,447 1,645
Retail
Large shopping centre including mall 2,050 2,697 3,066
Neighbourhood incl supermarket 1,750 2,303 2,617
Prestige car showroom 2,240 2,947 3,350
Solid growth which looks set to continue
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Germany international building costsper m2of internal area
EUR USD(exchange rate:
0.76)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 14 18 21
Excavate footings (m) 26 34 39
Concrete in slab (m3) (1,500m3job) 132 174 197
Reinforcement in beams (tonne) 1,342 1,766 2,007
Formwork to soft of slab (m2) 41 55 62
Blockwork in wall (m2) (10,000 block job) 68 89 102
Structural steel beams (tonne) 3,617 4,759 5,410
Pre-cast concrete wall (m2) 101 133 151
Curtain wall glazing incl support system (m2) (1,000m2job) 614 808 918
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 49 64 73
Single solid core door incl frame and hardware (50 door job) 865 1,138 1,294
Painting to walls primer + 2 coats (m2) 7 9 10
Ceramic tiling (m2) (1,000m2job) 53 69 79Vinyl ooring to wet areas (m2) (500m2job) 29 38 43
Carpet medium tufted (m2) (4,500m2job) 24 32 37
Lighting installation (m2) (5,000m2+ job) 56 74 84
Copper pipe 15mm to wall (m) (1,000m+ job) 30 39 45
Fire sprinklers (per m2) (5,000m2job) 79 104 118
Air conditioning incl main plant (m2) (5,000m2+ job) 90 118 135
Labour
Group 1 tradesman eg plumber/electrician 45 59 67
Group 2 tradesman eg carpenter/bricklayer 38 50 57
Group 3 tradesman eg carpet layer, tiler, plasterer 38 50 57
General labourer 28 37 42
Site foreman 41 54 61Material
Concrete 30 MPa (m3) (1,500m3job) 108 142 162
Reinforcement bar 16mm (tonne) (120 tonne job) 823 1,083 1,231
Concrete block (400x200) per 1,000 (>10,000 block job) 4,667 6,141 6,980
Standard brick per 1,000 673 885 1,006
Structural steel beams (tonne) (100 tonne + job) 1,800 2,368 2,692
Glass pane 10mm tempered (m2) 100 132 150
Softwood timber for framing 100mm x 50mm (m) 3 4 4
13 mm plasterboard (m2) 4 5 5
Emulsion paint (litre) 5 7 7
Copper pipe 15 mm (m) (1,000m+ job) 8 11 12
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 4 5 6
Plant
Hire 50t mobile crane + operator (day) 1,250 1,645 1,870
Market: getting warmer
Tendering: lukewarm
Cost escalation: 3%
Contractors margin: 5%
Preliminaries: 15%
Berlin 90
Frankfurt 95
Munich 100
Stuttgart 96
There was an average German escalation of two percent during 210213. Some costs/rates are signicantly higher than previous
editions following an exercise to align specications and inclusions with regional peers.
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Hong Kong
Hong Kongs construction industry is experiencing
strong growth, with several sectors booming again.
The civil construction sector is by far the largest growthdriver, with ve large rail projects underway or scheduled
to commence soon. Besides these high-prole rail projects,
an Environmental Impact Statement for an USD11.1bn
third runway at the citys airport is now underway.
Due to these projects and incessant demand for
commercial and residential real estate in the denselypopulated city, construction volumes are at a high level.
Construction materials costs are rising relatively slowly,
with the exception of key civil materials, such as concreteand rebar. Labour costs, however, suffer from high cost
escalation due to increasing labour shortages andan ageing workforce.
In the short term, construction cost escalation willremain comparatively moderate. However, from the
second quarter of 2014 costs are forecast to increase
strongly again.
International building costsper m2of internal area, in 2013
HKD USD(exchange rate:
7.75)
Purchasingpower parity
Airports
Domestic terminal full service 40,000 5,161 7,018
Low-cost carrier basic service 25,000 3,226 4,386
Carparks
Multistorey above ground 10,000 1,290 1,754
Multistorey below ground 18,000 2,323 3,158
Commercial
Ofces business park 18,000 2,323 3,158
CBD ofces up to 20 oors medium (A-grade) 21,000 2,710 3,684
CBD ofces high-rise prestige 24,000 3,097 4,211
Education
Primary and secondary schools 18,000 2,323 3,158
University 24,000 3,097 4,211Hospitals
Day centre (including basic surgeries) 18,000 2,323 3,158
Regional hospital 28,000 3,613 4,912
General hospital (eg city teaching hospital) 32,000 4,129 5,614
Hotels
3 star travellers 26,000 3,355 4,561
5 star luxury 32,000 4,129 5,614
Resort style 35,000 4,516 6,140
Industrial
Warehouse/factory units basic 13,500 1,742 2,368
Large warehouse distribution centre 15,000 1,935 2,632
High-tech factory/laboratory 25,000 3,226 4,386
Residential
Individual detached house medium standard 28,000 3,613 4,912
Individual detached house prestige 35,000 4,516 6,140
Townhouses medium standard 22,000 2,839 3,860
Apartments private medium density 20,000 2,581 3,509
Apartments high rise 22,000 2,839 3,860
Aged care/affordable units 14,000 1,806 2,456
Retail
Large shopping centre including mall 28,000 3,613 4,912
Neighbourhood incl supermarket 22,000 2,839 3,860
Prestige car showroom 28,000 3,613 4,912
Booming civil sector will push prices up in 2014
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Hong Kong international building costsper m2of internal area
HKD USD(exchange rate:
7.75)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 120 15 21
Excavate footings (m) 130 17 23
Concrete in slab (m3) (1,500m3job) 1,260 163 221
Reinforcement in beams (tonne) 10,900 1,406 1,912
Formwork to soft of slab (m2) 300 39 53
Blockwork in wall (m2) (10,000 block job) 350 45 61
Structural steel beams (tonne) 37,500 4,839 6,579
Pre-cast concrete wall (m2) 1,200 155 211
Curtain wall glazing incl support system (m2) (1,000m2job) 5,040 650 884
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 450 58 79
Single solid core door incl frame and hardware (50 door job) 6,000 774 1,053
Painting to walls primer + 2 coats (m2) 120 15 21
Ceramic tiling (m2) (1,000m2job) 650 84 114Vinyl ooring to wet areas (m2) (500m2job) 300 39 53
Carpet medium tufted (m2) (4,500m2job) 480 62 84
Lighting installation (m2) (5,000m2+ job) 850 110 149
Copper pipe 15mm to wall (m) (1,000m+ job) 210 27 37
Fire sprinklers (per m2) (5,000m2job) 520 67 91
Air conditioning incl main plant (m2) (5,000m2+ job) 2,600 335 456
Labour
Group 1 tradesman eg plumber/electrician 110 14 19
Group 2 tradesman eg carpenter/bricklayer 140 18 25
Group 3 tradesman eg carpet layer, tiler, plasterer 120 15 21
General labourer 78 10 14
Site foreman 160 21 28Material
Concrete 30 MPa (m3) (1,500m3job) 650 84 114
Reinforcement bar 16mm (tonne) (120 tonne job) 6,015 776 1,055
Concrete block (400x200) per 1,000 (>10,000 block job) 3,500 452 614
Standard brick per 1,000 1,950 252 342
Structural steel beams (tonne) (100 tonne + job) 12,000 1,548 2,105
Glass pane 10mm tempered (m2) 1,880 243 330
Softwood timber for framing 100mm x 50mm (m) 65 8 11
13 mm plasterboard (m2) 80 10 14
Emulsion paint (litre) 55 7 10
Copper pipe 15 mm (m) (1,000m+ job) 28 4 5
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 14 2 2
Plant
Hire 50t mobile crane + operator (day) 6,000 774 1,053
Market: staying the same
Tendering: warm
Cost escalation: 6%
Contractors margin: 6%
Preliminaries: 15%
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India
At ve percent year-on-year, growth in the Indian
economy in 201213 has been the slowest the countryhas seen in the past decade.
Rising interest costs and fewer government and private
projects have affected the construction sector. Contractors
also complain about excessive bureaucracy causing slower
project approvals and increased nancial risks.
Despite the short-term weakness, the outlook for thesector remains positive in the longer term. The upsideof the weakening exchange rate will be improved export
earnings, providing much-needed capital for investment.
Recently announced government programmes include
easing of foreign direct investment rules in the multi-brandretail and aviation sectors and increased investment plans
for metro rail projects in 19 cities, motorways and roads.
Ination and construction cost escalation remain quite
high. The weakened exchange rate will add to costs
of imported equipment, machinery, fuel and materials.
International building costsper m2of internal area, in 2013
INR USD(exchange rate:
58.00)
Purchasingpower parity
Airports
Domestic terminal full service 70,850 1,222 3,633
Low-cost carrier basic service 49,600 855 2,543
Carparks
Multistorey above ground 27,360 472 1,403
Multistorey below ground 43,320 747 2,221
Commercial
Ofces business park 34,200 590 1,754
CBD ofces up to 20 oors medium (A-grade) 39,900 688 2,046
CBD ofces high-rise prestige 43,320 747 2,221
Education
Primary and secondary schools 20,520 354 1,052University 43,320 747 2,221
Hospitals
Day centre (including basic surgeries) 23,940 413 1,227
Regional hospital 42,180 727 2,163
General hospital (eg city teaching hospital) 33,060 570 1,695
Hotels
3 star travellers 43,320 747 2,221
5 star luxury 85,500 1,474 4,384
Resort style 54,720 943 2,806
Industrial
Warehouse/factory units basic 29,420 507 1,508
Large warehouse distribution centre 37,190 641 1,907High-tech factory/laboratory 44,400 766 2,277
Residential
Individual detached house medium standard 34,200 590 1,754
Individual detached house prestige 42,750 737 2,192
Townhouses medium standard 28,500 491 1,461
Apartments private medium density 22,800 393 1,169
Apartments high rise 51,300 884 2,630
Aged care/affordable units 20,520 354 1,052
Retail
Large shopping centre including mall 43,320 747 2,221
Neighbourhood incl supermarket 29,640 511 1,520
Prestige car showroom 19,950 344 1,023
Slow now, but long-term prospects look good
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India international building costsper m2of internal area
INR USD(exchange rate:
58.00)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 350 6 18
Excavate footings (m) 542 9 28
Concrete in slab (m3) (1,500m3job) 7,500 129 385
Reinforcement in beams (tonne) 66,000 1,138 3,384
Formwork to soft of slab (m2) 541 9 28
Blockwork in wall (m2) (10,000 block job) 1,300 22 67
Structural steel beams (tonne) 96,000 1,655 4,922
Pre-cast concrete wall (m2) 8,910 154 457
Curtain wall glazing incl support system (m2) (1,000m2job) 12,000 207 615
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 4,000 69 205
Single solid core door incl frame and hardware (50 door job) 34,000 586 1,743
Painting to walls primer + 2 coats (m2) 220 4 11
Ceramic tiling (m2) (1,000m2job) 3,146 54 161Vinyl ooring to wet areas (m2) (500m2job) 2,360 41 121
Carpet medium tufted (m2) (4,500m2job) 2,462 42 126
Lighting installation (m2) (5,000m2+ job) 2,300 40 118
Copper pipe 15mm to wall (m) (1,000m+ job) 660 11 34
Fire sprinklers (per m2) (5,000m2job) 891 15 46
Air conditioning incl main plant (m2) (5,000m2+ job) 4,500 78 231
Labour
Group 1 tradesman eg plumber/electrician 63 1 3
Group 2 tradesman eg carpenter/bricklayer 56 1 3
Group 3 tradesman eg carpet layer, tiler, plasterer 43 1 2
General labourer 23 0 1
Site foreman 90 2 5Material
Concrete 30 MPa (m3) (1,500m3job) 5,525 95 283
Reinforcement bar 16mm (tonne) (120 tonne job) 44,800 772 2,297
Concrete block (400x200) per 1,000 (>10,000 block job) 36,750 634 1,884
Standard brick per 1,000 6,647 115 341
Structural steel beams (tonne) (100 tonne + job) 56,000 966 2,871
Glass pane 10mm tempered (m2) 1,250 22 64
Softwood timber for framing 100mm x 50mm (m) 283 5 15
13 mm plasterboard (m2) 350 6 18
Emulsion paint (litre) 275 5 14
Copper pipe 15 mm (m) (1,000m+ job) 550 9 28
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 130 2 7
Plant
Hire 50t mobile crane + operator (day) 16,020 276 821
Market: getting cooler
Tendering: warm
Cost escalation: 7%
Contractors margin: 16%
Preliminaries: 9%
Bangalore 104
Chennai 96
Kolkata 96
Mumbai 100
New Delhi 97
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Ireland
The Irish construction sector has shrunk considerably
since 2006, with 34 percent fewer rms in 2013
compared to then. Skills and expertise have been lost,
with professionals and tradespeople moving to workoverseas. At the height of Irelands construction boom,
273,000 people were directly employed in the sector,
a gure that had shrunk to 99,600 in 2012.
GDP growth remains below one percent in 2013 as Irelandfaces weaker demand from Europe and the UK. Domestic
demand is hampered by continued austerity measures
aimed at correcting scal imbalance; its effects include
a lack of development nance, weak condence and
low demand.
Some projects are coming through in the public sector,
thanks to the governments school-building programme,its purchasing power parity stimulus package, and
spending on maintenance and energy-efciency measuresfor schools, roads and local authority housing. Despite this,construction opportunities overall are down.
Tender prices are competitive and high levels of
unemployment in construction will keep constructioncost increases to a minimum for several years. Gradually,
as the European and US economies improve over 201415,
Ireland will benet through improved demand and the
relaxation of austerity measures.
Data for Northern Ireland is included in UK gures
on pages 5253.
International building costsper m2of internal area, in 2013
EUR USD(exchange rate:
0.76)
Purchasingpower parity
Airports
Domestic terminal full service 3,540 4,658 6,850
Low-cost carrier basic service 2,470 3,250 4,779
Carparks
Multistorey above ground 510 671 987
Multistorey below ground 880 1,158 1,703
Commercial
Ofces business park 1,200 1,579 2,322
CBD ofces up to 20 oors medium (A-grade) 1,810 2,382 3,502
CBD ofces high-rise prestige 2,730 3,592 5,282
Education
Primary and secondary schools 1,100 1,447 2,128
University 2,030 2,671 3,928
Hospitals
Day centre (including basic surgeries) 2,210 2,908 4,276
Regional hospital 3,270 4,303 6,327
General hospital (eg city teaching hospital) 3,270 4,303 6,327
Hotels
3 Star travellers 1,570 2,066 3,038
5 Star luxury 2,780 3,658 5,379
Resort style 2,020 2,658 3,909
Industrial
Warehouse/factory units basic 510 671 987
Large warehouse distribution centre 890 1,171 1,722
High tech factory/laboratory 1,600 2,105 3,096
Residential
Individual detached house medium standard 1,010 1,329 1,954
Individual detached house prestige 1,620 2,132 3,135
Townhouses medium standard 1,010 1,329 1,954
Apartments private medium density 1,360 1,789 2,632
Apartments high rise 1,520 2,000 2,941
Aged care/affordable units 1,840 2,421 3,560
RetailLarge shopping centre including mall 2,250 2,961 4,354
Neighbourhood incl supermarket 2,040 2,684 3,947
Prestige car showroom 2,700 3,553 5,224
Low demand and high competition are keeping prices down
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Ireland international building costsper m2of internal area
EUR USD(exchange rate:
0.76)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 9 12 18
Excavate footings (m) 19 24 36
Concrete in slab (m3) (1,500m3job) 140 184 271
Reinforcement in beams (tonne) 950 1,249 1,837
Formwork to soft of slab (m2) 29 38 56
Blockwork in wall (m2) (10,000 block job) 23 30 44
Structural steel beams (tonne) 1,850 2,434 3,579
Pre-cast concrete wall (m2) 85 112 164
Curtain wall glazing incl support system (m2) (1,000m2job) 433 569 837
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 52 68 100
Single solid core door incl frame and hardware (50 door job) 742 976 1,435
Painting to walls primer + 2 coats (m2) 6 8 12
Ceramic tiling (m2) (1,000m2job) 57 75 110Vinyl ooring to wet areas (m2) (500m2job) 33 43 64
Carpet medium tufted (m2) (4,500m2job) 26 34 50
Lighting installation (m2) (5,000m2+ job) 45 59 87
Copper pipe 15mm to wall (m) (1,000m+ job) 29 39 57
Fire sprinklers (per m2) (5,000m2job) 75 99 145
Air conditioning incl main plant (m2) (5,000m2+ job) 120 158 232
Labour
Group 1 tradesman eg plumber/electrician 29 38 56
Group 2 tradesman eg carpenter/bricklayer 29 38 56
Group 3 tradesman eg carpet layer, tiler, plasterer 29 38 56
General labourer 22 29 43
Site foreman 29 38 56Material
Concrete 30 MPa (m3) (1,500m3job) 75 99 145
Reinforcement bar 16mm (tonne) (120 tonne job) 750 986 1,451
Concrete block (400x200) per 1,000 (>10,000 block job) 2,400 3,158 4,644
Standard brick per 1,000 450 592 871
Structural steel beams (tonne) (100 tonne + job) 1,250 1,644 2,418
Glass pane 10mm tempered (m2) 178 234 345
Softwood timber for framing 100mm x 50mm (m) 1 1 2
13 mm plasterboard (m2) 3 4 6
Emulsion paint (litre) 4 5 8
Copper pipe 15 mm (m) (1,000m+ job) 3 4 6
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 1 1 2
Plant
Hire 50t mobile crane + operator (day) 1,150 1,513 2,225
Market: staying the same
Tendering: cold
Cost escalation: 2%
Contractors margin: 2%
Preliminaries: 10%
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Japan
Are the years of stagnation for the Japanese economy
coming to an end? The signs look positive.
Business conditions are recovering, with the sharemarket rising 42 percent between January and the
end of September 2013. GDP growth is positive againas Abenomics, the policies of Prime Minister Shinz Abe,
take effect. These include further monetary easing,
tax breaks and a weaker currency, which will stimulateJapanese export growth.
Property prices look set to rise. New housing starts
have increased by nearly 15 percent in the last year.
Rebuilding after the 2011 tsunami has also addedto construction activity.
The news in September 2013 that Tokyo will host the 2020
Olympics is also positive for the construction sector, withinvestment in stadiums, housing and transport expected.
Reports of sporadic skills shortages in key construction
trades means that cost escalation is presently a littlehigher than in other developed economies.
International building costsper m2of internal area, in 2013
JPY USD(exchange rate:97.90)
Purchasingpower parity
Airports
Domestic terminal full service 370,000 3,779 5,359
Low-cost carrier basic service 302,100 3,086 4,376
Carparks
Multistorey above ground 205,300 2,097 2,974
Multistorey below ground 444,800 4,543 6,443
Commercial
Ofces business park 230,500 2,354 3,339
CBD ofces up to 20 oors medium (A-grade) 266,500 2,722 3,860
CBD ofces high-rise prestige 303,800 3,103 4,401
Education
Primary and secondary schools 202,400 2,067 2,932
University 186,300 1,903 2,699
Hospitals
Day centre (including basic surgeries) 164,000 1,675 2,376
Regional hospital 164,000 1,675 2,376
General hospital (eg city teaching hospital) 247,800 2,531 3,589
Hotels
3 star travellers 349,000 3,565 5,055
5 star luxury 523,400 5,346 7,581
Resort style 289,500 2,957 4,193
IndustrialWarehouse/factory units basic 154,500 1,578 2,238
Large warehouse distribution centre 207,900 2,124 3,011
High-tech factory/laboratory 455,000 4,648 6,591
Residential
Individual detached house medium standard 201,500 2,058 2,919
Individual detached house prestige 235,800 2,409 3,416
Townhouses medium standard 186,700 1,907 2,704
Apartments private medium density 189,300 1,934 2,742
Apartments high rise 284,000 2,901 4,114
Aged care/affordable units 164,800 1,683 2,387
Retail
Large shopping centre including mall 304,000 3,105 4,403Neighbourhood incl supermarket 368,400 3,763 5,336
Prestige car showroom 485,000 4,954 7,025
Abenomics helps Japan to rise again
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Japan international building costsper m2of internal area
JPY USD(exchange rate:
97.90)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 450 5 7
Excavate footings (m) 500 5 7
Concrete in slab (m3) (1,500m3job) 13,710 140 199
Reinforcement in beams (tonne) 97,000 991 1,405
Formwork to soft of slab (m2) 2,680 27 39
Blockwork in wall (m2) (10,000 block job) 4,410 45 64
Structural steel beams (tonne) 114,960 1,174 1,665
Pre-cast concrete wall (m2) 15,140 155 219
Curtain wall glazing incl support system (m2) (1,000m2job) 100,000 1,021 1,448
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 3,050 31 44
Single solid core door incl frame and hardware (50 door job) 73,600 752 1,066
Painting to walls primer + 2 coats (m2) 860 9 12
Ceramic tiling (m2) (1,000m2job) 5,820 59 84Vinyl ooring to wet areas (m2) (500m2job) 3,380 35 49
Carpet medium tufted (m2) (4,500m2job) 4,300 44 62
Lighting installation (m2) (5,000m2+ job) 4,500 46 65
Copper pipe 15mm to wall (m) (1,000m+ job) 2,290 23 33
Fire sprinklers (per m2) (5,000m2job) 4,000 41 58
Air conditioning incl main plant (m2) (5,000m2+ job) 28,900 295 419
Labour
Group 1 tradesman eg plumber/electrician 2,400 25 35
Group 2 tradesman eg carpenter/bricklayer 2,210 23 32
Group 3 tradesman eg carpet layer, tiler, plasterer 2,140 22 31
General labourer 1,700 17 25
Site foreman 2,440 25 35Material
Concrete 30 MPa (m3) (1,500m3job) 11,900 122 172
Reinforcement bar 16mm (tonne) (120 tonne job) 66,000 674 956
Concrete block (400x200) per 1,000 (>10,000 block job) 110,000 1,124 1,593
Standard brick per 1,000 97,500 996 1,412
Structural steel beams (tonne) (100 tonne + job) 80,000 817 1,159
Glass pane 10mm tempered (m2) 1,730 18 25
Softwood timber for framing 100mm x 50mm (m) 1,210 12 18
13 mm plasterboard (m2) 230 2 3
Emulsion paint (litre) 270 3 4
Copper pipe 15 mm (m) (1,000m+ job) 661 7 10
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 181 2 3
Plant
Hire 50t mobile crane + operator (day) 150,000 1,532 2,173
Market: getting warmer
Tendering: warm
Cost escalation: 5%
Contractors margin: 6%
Preliminaries: 15%
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Malaysia
Malaysia is making fresh progress towards its goal of
achieving developed nation status by 2020. And a major
part of its strategy is an ambitious construction plan.
The Economic Transformation Programme (ETP) includes
USD52bn of new rail and road projects. Among these
projects are new light rail transit extensions, mass rapid
transit systems and a high-speed railway between Kuala
Lumpur and Singapore.
The government is also planning large public housing
schemes. Rolled out progressively between now and2020, these developments will provide a boost to the
construction sector.
For now, Malaysia remains a low-cost countryfor construction. Shortages of skilled labour are,however, likely to increase costs in the future.
International building costsper m2of internal area, in 2013
MYR USD(exchange rate:
3.23)
Purchasingpower parity
Airports
Domestic terminal full service 6,240 1,932 4,136
Low-cost carrier basic service 4,370 1,353 2,896
CarparksMultistorey above ground 1,500 464 994
Multistorey below ground 2,120 656 1,405
Commercial
Ofces business park 3,110 963 2,061
CBD ofces up to 20 oors medium (A-grade) 4,060 1,257 2,691
CBD ofces high-rise prestige 5,680 1,759 3,764
Education
Primary and secondary schools 1,870 579 1,239
University 4,600 1,424 3,049
Hospitals
Day centre (including basic surgeries) 2,810 870 1,862
Regional hospital 3,740 1,158 2,479
General hospital (eg city teaching hospital) 4,210 1,303 2,790
Hotels
3 star travellers 5,140 1,591 3,407
5 star luxury 8,920 2,762 5,912
Resort style 9,330 2,889 6,183
Industrial
Warehouse/factory units basic 1,890 585 1,253
Large warehouse distribution centre 2,430 752 1,610
High-tech factory/laboratory 4,060 1,257 2,691
Residential
Individual detached house medium standard 2,340 724 1,551Individual detached house prestige 2,990 926 1,982
Townhouses medium standard 1,560 483 1,034
Apartments private medium density 1,820 563 1,206
Apartments high rise 2,600 805 1,723
Aged care/affordable units 1,950 604 1,292
Retail
Large shopping centre including mall 4,600 1,424 3,049
Neighbourhood incl supermarket 3,920 1,214 2,598
Prestige car showroom 5,000 1,548 3,314
Road, rail and major housing projects will drive costs up from low base
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Malaysia international building costsper m2of internal area
MYR USD(exchange rate:
3.23)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 35 11 23
Excavate footings (m) 50 15 33
Concrete in slab (m3) (1,500m3job) 347 108 230
Reinforcement in beams (tonne) 3,950 1,223 2,618
Formwork to soft of slab (m2) 52 16 35
Blockwork in wall (m2) (10,000 block job) 70 22 46
Structural steel beams (tonne) 6,798 2,105 4,505
Pre-cast concrete wall (m2) 226 70 149
Curtain wall glazing incl support system (m2) (1,000m2job) 418 129 277
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 94 29 62
Single solid core door incl frame and hardware (50 door job) 836 259 554
Painting to walls primer + 2 coats (m2) 8 3 5
Ceramic tiling (m2) (1,000m2job) 115 36 76Vinyl ooring to wet areas (m2) (500m2job) 103 32 68
Carpet medium tufted (m2) (4,500m2job) 94 29 62
Lighting installation (m2) (5,000m2+ job) 157 49 104
Copper pipe 15mm to wall (m) (1,000m+ job) 82 25 54
Fire sprinklers (per m2) (5,000m2job) 105 32 69
Air conditioning incl main plant (m2) (5,000m2+ job) 314 97 208
Labour
Group 1 tradesman eg plumber/electrician 21 6 14
Group 2 tradesman eg carpenter/bricklayer 15 5 10
Group 3 tradesman eg carpet layer, tiler, plasterer 21 6 14
General labourer 10 3 7
Site foreman 56 17 37Material
Concrete 30 MPa (m3) (1,500m3job) 236 73 156
Reinforcement bar 16mm (tonne) (120 tonne job) 3,301 1,022 2,187
Concrete block (400x200) per 1,000 (>10,000 block job) 4,080 1,263 2,704
Standard brick per 1,000 410 127 272
Structural steel beams (tonne) (100 tonne + job) 2,992 926 1,983
Glass pane 10mm tempered (m2) 775 240 514
Softwood timber for framing 100mm x 50mm (m) 13 4 9
13 mm plasterboard (m2) 27 8 18
Emulsion paint (litre) 28 9 19
Copper pipe 15 mm (m) (1,000m+ job) 28 9 19
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 16 5 11
Plant
Hire 50t mobile crane + operator (day) 1,800 557 1,193
Market: getting warmer
Tendering: lukewarm
Cost escalation: 3%
Contractors margin: 8%
Preliminaries: 10%
Georgetown 97
Ipoh 97
Johor Bahru 88
Kuala Lumpur 100
Kuching 112
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Netherlands
Despite being the fth biggest economy in the
eurozone and its third largest exporter, GDP growth
in the Netherlands fell during 2013. New housing projects
are decreasing and business condence remains rmlyin negative territory.
The forecast for 2014 economic growth was cut by another
quarter of a percentage point to 0.5 percent recently.
This reects the 6bn in austerity measures needed
to bring Dutch public nances close to eurozone targets.
These measures, combined with weaker export demand,
mean unemployment has risen by nearly two percent sinceJuly 2012, to 8.7 percent.
Purchasing power parity projects are currently
one of the more buoyant construction sectors.But overall, infrastructure growth is down and
private sector construction is subdued.
Tenders are very competitive. Cost escalation
is low, but low-value submissions are addingto commercial risk.
International building costsper m2of internal area, in 2013
EUR USD(exchange rate:
0.76)
Purchasingpower parity
Airports
Domestic terminal full service 3,180 4,184 5,301
Low-cost carrier basic service 2,230 2,934 3,717
Carparks
Multistorey above ground 550 724 917
Multistorey below ground 1,070 1,408 1,784
Commercial
Ofces business park 1,550 2,039 2,584
CBD ofces up to 20 oors medium (A-grade) 2,110 2,776 3,517
CBD ofces high-rise prestige 2,550 3,355 4,251
Education
Primary and secondary schools 1,600 2,105 2,667University 1,870 2,461 3,117
Hospitals
Day centre (including basic surgeries) 2,200 2,895 3,667
Regional Hospital 2,500 3,289 4,167
General Hospital (eg city teaching hospital) 3,000 3,947 5,001
Hotels
3 star travellers 1,770 2,329 2,951
5 star luxury 2,770 3,645 4,617
Resort style 2,330 3,066 3,884
Industrial
Warehouse/factory units basic 890 1,171 1,484
Large warehouse distribution centre 860 1,132 1,434High-tech factory/laboratory 1,150 1,513 1,917
Residential
Individual detached house medium standard 1,150 1,513 1,917
Individual detached house prestige 1,450 1,908 2,417
Townhouses medium standard 1,150 1,513 1,917
Apartments private medium density 1,330 1,750 2,217
Apartments high rise 1,890 2,487 3,151
Aged care/affordable units 1,600 2,105 2,667
Retail
Large shopping centre including mall 2,310 3,039 3,851
Neighbourhood incl supermarket 1,870 2,461 3,117
Prestige car showroom 2,590 3,408 4,317
Projects thin on the ground beware of low bids
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Netherlands international building costsper m2of internal area
EUR USD(exchange rate:
0.76)
Purchasingpower parity
CompositeExcavate basement (m3) (1,800m3job) 13 17 22
Excavate footings (m) 25 33 42
Concrete in slab (m3) (1,500m3job) 195 257 325
Reinforcement in beams (tonne) 1,158 1,524 1,930
Formwork to soft of slab (m2) 35 46 58
Blockwork in wall (m2) (10,000 block job) 47 62 79
Structural steel beams (tonne) 2,527 3,324 4,212
Pre-cast concrete wall (m2) 105 138 175
Curtain wall glazing incl support system (m2) (1,000m2job) 632 831 1,053
Plasterboard 13mm thick to stud wall (m2) (3,000m2job) 79 104 132
Single solid core door incl frame and hardware (50 door job) 1,120 1,474 1,867
Painting to walls primer + 2 coats (m2
) 17 22 28Ceramic tiling (m2) (1,000m2job) 75 99 125
Vinyl ooring to wet areas (m2) (500m2job) 46 61 77
Carpet medium tufted (m2) (4,500m2job) 35 46 58
Lighting installation (m2) (5,000m2+ job) 68 89 113
Copper pipe 15mm to wall (m) (1,000m+ job) 26 34 43
Fire sprinklers (per m2) (5,000m2job) 37 48 61
Air conditioning incl main plant (m2) (5,000m2+ job) 86 114 144
Labour
Group 1 tradesman eg plumber/electrician 42 56 71
Group 2 tradesman eg carpenter/bricklayer 34 45 57
Group 3 tradesman eg carpet layer, tiler, plasterer 30 40 50
General labourer 23 30 38Site foreman 39 52 65
Material
Concrete 30 MPa (m3) (1,500m3job) 95 125 158
Reinforcement bar 16mm (tonne) (120 tonne job) 968 1,274 1,614
Concrete block (400x200) per 1,000 (>10,000 block job) 2,632 3,463 4,387
Standard brick per 1,000 406 535 677
Structural steel beams (tonne) (100 tonne + job) 1,337 1,759 2,229
Glass pane 10mm tempered (m2) 132 174 220
Softwood timber for framing 100mm x 50mm (m) 2 2 3
13 mm plasterboard (m2) 5 7 9
Emulsion paint (litre) 9 12 15
Copper pipe 15 mm (m) (1,000m+ job) 5 6 8
Copper cable (m) (3C + E, 2.5mm PVC) (100,000m+ job) 2 3 4
Plant
Hire 50t mobile crane + operator (day) 1,300 1,711 2,167
Market: getting cooler
Tendering: cold
Cost escalation: 2%
Contractors margin: 5%
Preliminaries: 13%
Amsterdam 103
Rotterdam 98
The Hague 100
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Oman
The Sultanate of Oman was insulated for the most
part from the negative effects of the global nancial
crisis, thanks to increased oil revenue. The government,
in its eighth ve-year Development Plan (201115),announced over OMR5.6bn of state spending on education,
healthcare, defence, transport infrastructure, and oil and
gas eld development.
While private investment lags behind, groundwork is beingestablished for secure future investment, as Oman remainsone of the most politically and economically stable of the
GCC countries. Major projects include the Muscat
International Airport and Salalah Airport, projected to
complete in 2015, and the development of international
ports at Duqm, Muscat, Salalah and Sohar.
As the country continues to develop its infrastructure and
industry to move away from its historic reliance on oil andgas production, a broad increase in construction activityis expected over the immediate future.
International building costsper m2of internal area, in 2013
OMR USD(exchange rate:
0.38)
Purchasingpower parity
Airports
Domestic terminal full service 1,400 3,684 7,458
Low-cost carrier basic service 950 2,500 5,061
Carparks
Multistorey above ground 360 947 1,918
Multistorey below ground 440 1,158 2,344
Commercial
Ofces business park 410 1,079 2,184
CBD ofces up to 20 oors medium (A-grade) 510 1,342 2,717
CBD ofces high-rise prestige 690 1,816 3,676
Education
Primary and secondary schools 590 1,553 3,143
University 670 1,763 3,569Hospitals
Day centre (including basic surgeries) 590 1,553 3,143
Regional hospital 740 1,947 3,942
General hospital (eg city teaching hospital) 900 2,368 4,794
Hotels
3 star travellers 920 2,421 4,901
5 star luxury 1,230 3,237 6,552
Resort style 1,490 3,921 7,937
Industrial
Warehouse/factory units basic 440 1,158 2,344
Large warehouse distribution centre 410 1,079 2,184
High-tech factory/laboratory 620 1,632 3,303
Residential
Individual detached house medium standard 620 1,632 3,303
Individual detached house prestige 1,000 2,632 5,327
Townhouses medium standard 540 1,421 2,877
Apartments private medium density 560 1,474 2,983
Apartments high rise 670 1,763 3,569
Aged care/affordable units 490 1,289 2,610
Retail
Large shopping centre including mall 670 1,763 3,569
Neighbourhood incl supermarket 720 1,895 3,835
Prestige car showroom 970 2,553 5,167
Construction activity increasing, with major projects planned
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Poland
During 2013, the Polish construction market has slowed.
This follows several years of strong growth, in line with thecountrys GDP growth rates, which have been among the
highest in the EEC countries.
The market for apartments appears to be temporarilyoversupplied, and activity in the civil engineering sectorsof roads, water and energy is also slowing. Bankruptcies
among construction rms increased during 201213
as the market attened out.
Unemployment in Poland has been rising since late
2008, and grew from 9.9 percent in January 2012 to
10.7 percent in March 2013. Ination is well under control,
and construction costs are expected to grow very littleover the next 12 months, with a predicted cost escalationof just two percent.
By 2014, the sector is likely to start picking up in line
with improving European growth. EU funding of 72.9bn
between 2014 and 2020 a third of which is aimedat infrastructure and the environment is likely to give
the Polish construction market a further boost.
International building costsper m2of internal area, in 2013
PLN USD(exchange rate:
3.17)
Purchasingpower parity
Airports
Domestic terminal full service 8,000 2,524 6,885
Low-cost carrier basic service 4,000 1,262 3,442
Carparks
Multistorey above ground 1,700 536 1,463
Multistorey below ground 2,200 694 1,893
Commercial
Ofces business park 3,200 1,009 2,754
CBD ofces up to 20 oors medium (A-grade) 4,000 1,262 3,442
CBD ofces high-rise prestige 4,400 1,388 3,787
Education
Primary and secondary schools 2,300 726 1,979
University 3,500 1,104 3,012Hospitals
Day centre (including basic surgeries) 2,600 820 2,238
Regional hospital 3,300 1,041 2,840
General hospital (eg city teaching hospital) 3,300 1,041 2,840
Hotels
3 star travellers 4,000 1,262 3,442
5 star luxury 6,500 2,050 5,594
Resort style 4,500 1,420 3,873
Industrial
Warehouse/factory units basic 1,500 473 1,291
Large warehouse distribution centre 1,800 568 1,549
High-tech factory/laboratory 2,500 789