In a significant move towards enhancing data collaboration in the construction sector, the Abu Dhabi Statistics Center and the Abu Dhabi Chamber of Commerce and Industry have initiated efforts aimed at developing comprehensive indicators for construction costs. This partnership seeks to merge public and private sector strengths to facilitate strategic planning and boost investment opportunities in the emirate.
Abu Dhabi (Al-Ittihad) – The Abu Dhabi Statistics Center, in collaboration with the Abu Dhabi Chamber of Commerce and Industry, organized a workshop to discuss ways to enhance cooperation between the public and private sectors in the field of data and the preparation of a construction cost index. This workshop is part of the “Data for the Public Good” initiative, aimed at developing accurate economic indicators that serve the strategic planning of companies and enhance the investment climate in the emirate.
Representatives from real estate development companies, engineering consulting firms, and working groups from the construction sector participated in the workshop, discussing the importance of data in supporting decision-making and reducing risks, especially in light of increasing investments in infrastructure projects. The construction cost index is a vital tool for monitoring changes in the prices of building materials and labor, contributing to financial planning, improving project management efficiency, and providing companies and developers with an accurate perspective for estimating future costs and optimizing resource management.
Abdullah Gharib Al-Qamzi, Director General of the Abu Dhabi Statistics Center, affirmed that the construction cost index is a fundamental tool that ensures cost forecasting and market efficiency, noting that the construction sector witnessed growth of 11.3% in 2024, contributing 9.1% to the GDP with a value of 107.4 billion dirhams.
For his part, Shams Ali Khalfan Al-Dhaheri, the second vice-chairman of the Abu Dhabi Chamber of Commerce and Industry, emphasized the importance of collaboration in providing accurate data that contributes to economic planning and stimulates investment. Participants praised the workshop as a platform for enhancing data exchange and developing statistical indicators.
Representatives from companies such as “Lead Real Estate Development,” “Saltaco General Trading,” and “Build Hub” highlighted the significance of these initiatives in improving data quality and facilitating strategic decision-making based on reliable information. The “Data for the Public Good” initiative aims to build a sustainable framework for data exchange between the public and private sectors, ensuring confidentiality of information and quality of statistics, thereby enhancing the development of economic policies based on accurate data.
More than 70 entities have joined the initiative, indicating the importance of this approach in supporting data-driven economic growth in Abu Dhabi.