Statistics Centre And Abu Dhabi Chamber Collaborate To Improve Data Insights In Construction Sector

The Statistics Centre - Abu Dhabi (SCAD) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) recently organised a workshop focused on Public-Private Data Collaboration and the Construction Cost Index (CCI). This event, part of the Data for Good Initiative, aimed to enhance economic indicators through data collaboration, offering businesses valuable insights for strategic planning and investment.

During the workshop, participants from engineering firms, real estate developers, and industry groups discussed Abu Dhabi’s construction ecosystem. The CCI is crucial for financial planning, cost forecasting, and risk management in the construction sector. It tracks changes in material costs, labour expenses, and other related costs, providing essential insights for decision-making.

Abdulla Alqemzi, Director General of SCAD, highlighted the significance of data collaboration in promoting transparency and supporting economic growth. He stated: "The Construction Cost Index is an essential tool for ensuring cost predictability and market efficiency. Through business-to-government data collaboration, we have created a robust framework for businesses to contribute to the accuracy of economic data while benefiting from high-quality insights for strategic planning."

The construction sector plays a vital role in Abu Dhabi’s economy. In 2024, it reached a record value added of AED107.4 billion, contributing 9.1% to the Emirate’s GDP with an impressive growth rate of 11.3%. This growth reflects ongoing investments in urban infrastructure projects that drive job creation and maintain momentum across the sector.

Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman and Managing Director of ADCCI, stressed the importance of public-private collaboration in enhancing Abu Dhabi’s economic landscape. He remarked: "Effective collaboration between the public and private sectors is fundamental to fostering a transparent and well-informed business environment."

The workshop included presentations on improving statistical insight dashboards and discussed how data can aid economic forecasting. Industry leaders emphasised using accurate data to boost efficiency, investment, and growth within Abu Dhabi’s construction sector.

This collaborative approach aims to strengthen Abu Dhabi's economy by leveraging accurate data for better decision-making. The focus remains on creating a transparent business environment that supports strategic planning and investment opportunities.

With inputs from WAM