Construction prices expected to continue to soar

12/15/2006 | Commercial Property Executive

U.S. developers can expect costs for construction projects to continue to rise due to factors ranging from a tight labor market to booming development in places like China and Dubai, an industry expert said at a recent development summit. Peter Belisle, managing director of project and development services for Jones Lang LaSalle said Dubai is using 15% to 25% of the world's construction cranes, and he said China's demand for steel will not slacken soon.

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