Construction Cost Index
Description:
The Construction Cost Index (CCI) measures the changes in the cost of construction inputs over time, such as materials, labor, and equipment, helping stakeholders understand and forecast building costs.
Objectives:
- Track construction sector inflation and trends to inform economic planning and forecasting.
- Provide reliable data for investors, developers, and policymakers to plan and budget infrastructure projects effectively.
- Offer a standardized metric to assess cost fluctuations, improving trust and accountability in the construction ecosystem.
Socio-Economic Impact:
- Helps policymakers and developers manage cost structures to support affordable housing initiatives.
- Enhances public and private sector efficiency in executing timely and cost-effective infrastructure projects.
Potential Datasets:
- Construction materials prices (e.g., steel, cement, concrete, etc.)
- Labor wage rates across construction trades
- Equipment rental and maintenance costs
- Energy and fuel prices
- Contractor and developer survey data
- Regional economic indicators and inflation rates
Potential Stakeholders:
- Urban planning and economic policy departments
- Construction companies and developers
- Financial institutions and investors
- Real estate firms
- Engineering and consulting firms
- Academia and research institutions
- International development organizations
Code: Industry, Innovation and Infrastructure
Sustainable Development Goals (SDG):
Sustainable Cities and Communities
Responsible Consumption and Production
Industry, Innovation, and Infrastructure
International Best Practices:
- United States Bureau of Labor Statistics (BLS) – Produces the Producer Price Index for construction.
- Eurostat (European Union) – Maintains construction cost indices across EU member states.
- UK Office for National Statistics (ONS) – Publishes detailed indices for housing and infrastructure construction.
- Singapore Department of Statistics – Regularly updates construction cost indices with detailed input components.
- OECD and World Bank – Use CCI data in economic modeling and infrastructure investment benchmarking.
How to get involved?
D4G Alliance initiative facilitates win-win collaboration between relevant stakeholders where privately held data are utilized to produce actionable insights for the public interest in the Emirates of Abu Dhabi.
Partner With Us !