Gulf developers continue to face steep increases in the cost of construction and skilled labour.
Doha demand
Qatar also saw a sharp increase in construction materials costs in the first quarter . At the root of the increases is the local lack of capacity to supply rebar, cement and, following the introduction of a quarrying ban in mid-2005, aggregate. Consequently, Qatar is dependent on imported material. However, a lack of capacity at Mesaieed port has led to extended waiting times for ships waiting to offload material, which has pushed up costs. Despite being a net exporter of cement, Egypt has seen a sharp rise in domestic cement prices. 'An increase in cement exports has reduced supply on the local market,' says Coates. 'As a result, the Government has announced that it will import cement, in support of the local industry.'
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