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Cost of building materials up 50% in Gulf - Zameen News

Cost of building materials up 50% in Gulf

July 9, 2008 • news

The costs of building materials in the Gulf region jumped 50% during the first half of the year following a 30% hike last year, said regional real-estate developer Al Mazaya Holding Company in a statement yesterday. The Kuwaiti-based company said this was due to inflationary pressures in the region that also prompted skilled and unskilled laborers to leave the UAE, where some 60% of the residents are of Asian origin.

[AME News]