Sumary of Construction cost of greenfield infra projects increased by 5-7% Q32022: CBRE:
- The overall construction cost of greenfield infrastructure projects increased by 5-7 per cent in the third quarter of 2022 (July-September), said leading real estate consulting firm CBRE South Asia in a report on Thursday.
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- The year 2022 recorded an escalation in material costs due to curtailed production amid the pandemic and increased international shipping costs led by supply chain bottlenecks.
- CBRE report forecasts a marginal rise in the overall construction costs during 2023 across cities, with Mumbai likely to witness a sharper rise.