Developers are asking consultants to reexamine cost studies

A number of real estate developers have asked consultancy offices to revisit cost studies to reflect the increasing cost of raw materials, Al Borsa reported. Developers want to reevaluate the cost of growth, said Inter-Consult Chairman Aly Raafat. Construction costs grew by 25-30% following the EGP float, which even the most conservative of feasibility studies couldn’t account for, said Engineering Consultants Group Chairman Amr Allouba. Some developers are asking their consultants for engineering solutions to curb costs without compromising quality, said deputy GM at Mancon Consultancy Mohamed Moussa.