Cost of establishing new buildings and additions in Palestine up by 7.6%
Palestinian Central Bureau of Statistics (PCBS) released Thursday the main results of the Existing Building Survey in the Palestinian Occupied Territories (OPT) 2003. The report provides data on establishing new buildings and additions, capital repair and improvements on existing buildings and current maintenance on existing buildings.
The survey results indicate that the value of establishing new buildings and additions during 2003 amounted to $408.9 million, out of which $327.0 million in the West Bank and $81.9 million was in Gaza Strip.
"Comparing the results of 2003 with 2002, we noticed an increase by 7.6% in the total cost of establishing new buildings and additions. But this percentage of increase is still less than to the change occurred in the year 2002 compared to the year 2001, which saw an increase of 50.8%" the survey said.
According to the survey, there was a decrease in the total cost of capital repair and improvements by $0.2 million in 2003 compared with 2002, and an increase in the total cost of current maintenance by 8.9% in 2003, the capital repair and improvements cost for existing buildings was $65.2 million for 2003, and the cost of current maintenance on existing buildings reached $39.3 million for the same year.
"Comparing results of 2003 with 2000, it is noticed that the cost of establishing new buildings and additions on buildings in the OPT increased by 16.1%, while the cost of current maintenance on existing buildings decreased by 45.4%, and the capital repair and improvements cost on existing buildings decreased by 29.3% during the year 2003 compared with the year 2000", it concluded. (menareport.com)
© 2004 Mena Report (www.menareport.com)
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