Saudi construction costs steady at 2.3 percent
Construction costs in Saudi Arabia stabilized with a 2.3% increase in August, the same rate recorded in July. The components of the index continued to rise, except for labor costs, which saw a slight increase of 1.6%. The stability was supported by a slight slowdown in the housing sector to 2.1% and a modest increase in labor costs, while expenses for equipment, machinery, and energy rentals rose by 4.5% and 3%, respectively. Additionally, the costs of essential materials continued to rise for the third consecutive month, increasing by 1.8%. Diesel prices have remained high at 7.8% since the beginning of the year, while gasoline and electricity prices remained unchanged.
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