Building Construction Hits 100 Million sqm p.a.

Each year, 100 million square meters of buildings are constructed in Iran’s urban and rural areas, according to the head of Construction Engineering Organization.
“The annual turnover of real-estate development is 4,000 billion rials [$16.46 million]. The average cost per square meter totals 50 million rials [$205] in Iran, i.e. 60-65 million rials [$246-267] in cities and 30-35 million rials [$123-144] in villages,” Ahmad Khorram was also quoted as saying by IRIB News. 
“Engineering services account for 5-8% of construction costs in the world whereas in Iran they barely exceed 1%.” 
The Consumer Price Index for the housing sector of the Iranian capital city in the 12-month period ending Jan. 19, which marks the end of the 10th Iranian month, increased by 71.8% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.