International construction cost survey 2012

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South Korea – hourly cost of labour (including overheads) South Korea – major projects KRW Great Train Express (GTX) 13tn Korea Train Express (KTX) – Incheon-Seoul-Pyeongchang 6.7tn Yongsan 8tn Incheon Airport 3 Phase 4.3tn Universal Studios Korea Resort 3tn 2010 2011 2011 KRW KRW USD Group 1 tradesman – eg plumber, electrician 95,858 105,524 95 Group 2 tradesman – eg carpenter, bricklayer 96,113 105,698 95 Group 3 tradesman – eg carpet layer, tiler, plasterer 96,677 104,620 94 General labourer 68,965 74,008 67 Site foreman 92,218 100,879 91 South Korea – costs of materials Concrete 30 mpa (m 3 ) (1,500m 3 job) 64,380 65,940 60 Reinforcement bar 16mm (tonne) (120 tonne job) 771,000 835,000 754 Concrete block (400 x 200) per 1,000 (>10,000 block job) 750,000 800,000 722 Standard brick per 1,000 50,000 55,000 50 Structural steel beams (tonne) (>100 tonne job) 910,000 1,150,000 1,038 Glass pane 6mm (m 2 ) 9,410 9,370 8 Softwood timber for framing 100mm x 50mm (m) 917 900 1 Plasterboard 13mm (m 2 ) 3,059 2,593 2 Emulsion paint (litre) 2,100 2,478 2 Copper pipe 15mm (m) (>1,000m job) 5,188 5,280 5 Copper cable (m) (3C + E, 2.5mm PVC) (>100,000m job) 285 299 0 South Korea – key trades (excluding preliminaries and builders’ margins) Excavate basement (m 3 ) (1,800m 3 job) 6,256 6,300 6 Excavate footings (m) 6,256 6,300 6 Concrete in slab (m 3 ) (1,500m 3 job) 76,380 77,940 70 Reinforcement in beams (tonne) 1,155,105 1,215,000 1,097 Formwork to soffit of slab (m 2 ) 22,440 22,440 20 Blockwork in wall (m 2 ) (10,000 block job) 35,566 35,566 32 Structural steel beams (tonne) 1,910,000 1,950,000 1,761 Pre-cast concrete wall (m 2 ) 250,000 250,000 226 Curtain wall glazing incl support system (m 2 ) (1,000m 2 job) 300,000 300,000 271 Plasterboard 13mm thick to stud wall (m 2 ) (3,000m 2 job) 45,000 45,000 41 Single solid core door incl frame and hardware (no) (50 door job) 250,000 250,000 226 Painting to walls primer + 2 coats (m 2 ) 4,448 4,500 4 Ceramic tiling (m 2 ) (1,000m 2 job) 45,000 45,000 41 Vinyl flooring to wet areas (m 2 ) (500m 2 job) 35,000 35,000 32 Carpet medium tufted (m 2 ) (4,500m 2 job) 50,000 50,000 45 Lighting installation (m 2 ) (>5,000m 2 job) 42,000 42,000 38 Copper pipe 15mm to wall (m) (>1,000m job) 11,000 11,000 10 Fire sprinklers (per m 2 ) (5,000m 2 job) 22,500 22,500 20 Air conditioning incl main plant (m 2 ) (>5,000m 2 job) 202,000 202,000 182 making the difference 31 This document is in the public domain and is shared here by RSS Construction Projects Ltd - www.rssprojects.com
International construction cost survey 2012 UAE The economies of Abu Dhabi and Dubai are strengthening, driven by high levels of investment in Abu Dhabi, strong tourism growth and the gradual emergence of the UAE as the financial hub for the region. However, oversupply in residential and commercial markets will continue to constrain construction growth in the UAE, with Dubai worse affected after growing strongest during 2006–8. It may take several years until healthy sales rates resume and price growth occurs. Construction costs have fallen substantially with prices in steady decline since 2008 and now up to 25 percent lower. Abu Dhabi has much less of an oversupply problem, a healthy backlog of projects and prospects for construction growth are better in 2012. 32 Turner & Townsend UAE – international building costs per m2 of internal area 2008 2009 2010 2011 2011 AED AED AED AED USD Residential Detached house – medium standard 7,500 7,000 6,500 6,000 1,634 Detached house – prestige 9,500 9,250 9,000 9,750 2,654 Townhouse – medium standard 7,500 6,525 5,550 5,250 1,429 Apartments – private medium density 7,000 6,500 6,000 5,500 1,497 Apartments – high rise 9,000 8,500 8,000 6,500 1,770 Aged care/affordable units Commercial 5,720 5,340 4,960 4,750 1,293 Offices – business park 5,300 4,800 4,550 4,000 1,089 CBD offices up to 20 floors – medium 6,000 5,750 5,500 5,000 1,361 CBD offices – prestige Warehouses 8,000 7,500 7,000 6,750 1,838 Warehouse/factory unit – basic 6,000 5,250 4,500 4,250 1,157 Large warehouse distribution centre 5,500 4,750 4,000 4,000 1,089 High-tech factory/laboratory Retail 7,625 6,875 6,125 6,000 1,634 Large shopping centre including mall 8,000 7,500 7,000 6,500 1,770 Neighbourhood including supermarket 8,500 8,000 7,500 7,000 1,906 Prestige car showroom Hotels – – – – – Three-star travellers 10,000 9,750 9,500 9,000 2,450 Five-star luxury 13,000 12,750 12,500 12,000 3,267 Resort style Hospitals 15,000 15,000 15,000 14,500 3,948 Day centre 7,000 6,500 6,000 5,750 1,565 Regional hospital 8,500 8,000 7,500 7,250 1,974 General hospital Schools 9,000 8,500 8,000 8,750 2,382 Primary and secondary 7,000 6,500 6,000 5,750 1,565 University Carparks 7,800 7,300 6,800 6,500 1,770 Multistorey – above ground 3,500 3,500 3,500 3,500 953 Multistorey – below ground Airports 4,500 4,500 4,500 4,250 1,157 Airport terminal – – – – – This document is in the public domain and is shared here by RSS Construction Projects Ltd - www.rssprojects.com
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