Everyday News

Prices of construction materials surge by 20%

The unprecedented price increase of petroleum, along with the Pakistan rupee’s continued free fall against the dollar, has triggered dire effects in every sector, especially the construction sector.

invest with imarat

Islamabad’s emerging city centre

Learn More

Different reports state that these two factors have caused an alarming increase of more than 20% in the prices of materials commonly used for construction.

The price of high-quality bricks has jumped from PKR 12,500 to PKR 14,000. Similarly, the cost of cement and white cement have risen from PKR 720 to PKR 1040, and from PKR 1350 to PKR 1550 respectively. The price of sand has increased from PKR 28 per cubic foot to PKR 50 per cubic foot. Prices of crush leaped from PKR 38 per cubic foot in January 2021 to PKR 75 now.

Project completion costs have spiked from PKR 1550 per square foot to PKR 1800 per square foot. Higher-grade finishing work has increased from PKR 3050 to PKR 4150 per square foot.

It has also become difficult to price housing units for new projects as the costs of materials keep changing.

Contractors claim that this price escalation has caused an overall decline in investment in the construction industry. The Senior Vice Chairman of the Association of Builders and Developers (ABAD) stated that work has slowed down significantly in the last four months.

Minaal Shamimi

As an editor and writer, Minaal recognises the importance of a well-crafted and compelling narrative. With several years of experience and a thorough understanding of SEO practices, her focus is on producing content that can provide different perspectives and create real value.

Recent Posts

Shingrai Waterfall: Your Ultimate Adventure Destination

Swat, famously known as the "Switzerland of Pakistan," is a land of mesmerizing beauty. It is…

2 days ago

Top 5 Reasons Why Millennials Are Investing in Real Estate

Millennials, often referred to as the “financially cautious generation,” are reshaping the investment landscape. Known…

3 days ago

IMARAT Group’s First Restaurant, Graanic Launches Organic Dining Experience at Mall of IMARAT

Graanic, Pakistan's premier organic food brand, has officially launched its new restaurant at Mall of…

3 days ago

Madyan Swat: The Ultimate Travel Guide

If you’re looking for a destination that combines breathtaking views, a peaceful ambiance, and unforgettable…

3 days ago

Real Estate Wealth Management: Trends and Insights for 2025

The real estate sector in Pakistan is undergoing significant transformations, and wealth management strategies are…

4 days ago

Federal Government’s Rental Rate Increase Hits Commercial Properties Nationwide

December 19, 2024— In a significant move, the federal government has announced an increase in…

4 days ago