Construction Cost Handbook Korea 2012n PDF

Second Edition 2012
Davis Langdon & Seah Korea Co., Ltd.

All rights reserved. No part of this publication may be
reproduced, copied, stored or transmitted in any form
without prior written permission from Davis Langdon &
Seah Korea Co., Ltd.
The information contained herein should be regarded as

indicative and for general guidance only. Davis Langdon
& Seah Korea Co., Ltd. makes no representation,
expressed or implied, with regard to the accuracy of the
information herein and cannot accept any responsibility
or liability for any errors or omissions that may be made.
8nless otherwise stated, costs reected in this handbook

are current as at 4th Quarter 2011.
Business Registration No: 211-86-99072
2 3
CONTENTS
Page Page
Contents 4 3. CONTRACT PROCUREMENT
Introduction 7
Calendars 8 FIDIC Rainbow Suite 90
Types of Contract 93
Authority Process and Submission 97
1. CONSTRUCTION TRENDS Flowchart of Development Business 99
Development Costs in Korea 100
Construction Market Outlook 14
Consumer Price Indices 16 4. OTHER INFORMATION
Top 20 Construction Firms 17
Exchange Rates 104
Construction Orders Received 18
Prime Rates 105
Materials Price Indices 20 Currency Fluctuations 106
Labour Price Indices 26 Conversion Factors 108
IDD Codes & Time Differences 110
Relevant Contacts 111
2. CONSTRUCTION COST DATA

5. DAVIS LANGDON & SEAH
Preambles 36
DLS Culture 118
Construction Costs For Seoul 38
Professional Services 122
Construction Costs For Major Cities in Asia 40
Davis Langdon & Seah International Ofces 124
Cost Breakdown For Different Building Types 58
Acknowledgements 138
Unit Rates Of Major Work Items For Cities in Asia 60
M&E Costs For Seoul 76

M&E Costs For Major Cities in Asia 78
Davis Langdon & Seah Korea Co., Ltd. would like to
Utility Costs For Asian Cities 84
acknowledge the following projects featured on our cover page
(From Left to Right)

1. Seoul International Finance Center
(AIG_Copyright AIG Korea. All rights reserved)
2. Berjaya Jeju Resort
4 5
INTRODUCTION
Davis Langdon & Seah International has been involved in

the publication of construction costs handbooks for countries
such as Hong Kong, India, Malaysia, Philippines and Vietnam
and is also the editor of the Spons Price Book Series which
comprise
Spons Asia Pacic Construction Costs Handbook

Spons European Construction Costs Handbook
Spons Architects and Builders Price Book
Spons Civil Engineering and Highway Works Price Book
Spons Mechanical and Electrical Services Price Book
Spons Landscape and External Works Price Book
(co-edited by Derek Lovejoy Partnership)
As in the previous editions, the DLS Handbook - Korea 2012

focuses on the construction cost prole of Korea and those of
the major cities in Asia.
The handbook is structured to serve as a general reference

guide on construction cost indicators in Asia.
The information contained in this handbook has been compiled

by Davis Langdon & Seah Korea Co., Ltd. Any further

information and/or if advice relating to particular projects is
reTuired, please contact any of the regional ofces listed under
the Directory of Davis Langdon & Seah International Ofces
at the end of this handbook.
6 7
8
CALENDARS
9
10
CALENDARS
11
CONSTRUCTION TRENDS
Construction Market Outlook

Consumer Price Indices
Top Twenty Construction Firms
Construction Orders Received
Material Price Indices
Labour Price Indices
1. CONSTRUCTION TRENDS
CONSTRUCTION MARKET OUTLOOK REAL ESTATE MARKET OUTLOOK
Construction investment is forecast to grow 2.6% in An abundant supply of new properties in the central business
2012 with a modest recovery in the housing market being district made Seouls Grade A office market a tenants
overpowered by a decline in public works. market in 2011. Tenants kept control of the ofce rental market
in 2011 as the central business district experienced a record
Permits for new housing construction, a leading indicator for high vacancy rate and landlords felt the pressure to reduce
construction investment of residential buildings, has increased rents. Landlords of newly-completed buildings continue
while housing sales have recovered slightly on rising house to offer two or three months as rent-free periods to attract
rental prices, leading to a potential increase in construction tenants. Seouls Grade A ofce market is expected to continue
investment. However, reduced fiscal capacity in the public to be a tenants market in 2012. The question is whether it can
sector and the completion of state-run projects will lead to be absorbed easily although there seems to be strong potential
sluggish public works spending, limiting the recovery of demand from the corporate side.
construction investment.
Based on the outlook for Korea retail sales which is positive,
The government has played a key role in providing the total retail revenue has increased due to increasing number of
required impetus to the infrastructure construction market. tourists and continuous opening of specialty retailer of private
A reduction in taxes and interest rates for the corporate label apparel (SPA) brands. Most retail projects currently
sector, enabling smaller construction rms to complete larger under construction will be completed, albeit with delays
infrastructure projects, are under progress. South Korea caused by nancing difculties.
is focused on redeveloping its existing business districts,
promoting tourism and entertainment. Major cities, primarily Korea's housing market has finally started to bounce back
Seoul and Incheon, have been the centre of such activities. with signs of recovery in the secondary market, construction
companies cleared their housing inventories in 2011 by
The Korea government will seek to boost its overseas cutting prices, which negatively impacted their margins. The
construction orders to $70 billion in 2012 as part of efforts investment bank said the inventory de-stocking cycle looks to
to revive the slowing construction industry. The government have peaked out and forecast a gradual recovery of housing
also plans to spend more than 60 percent of its budget for the prices in 2012.
construction and employment sectors within the first half of

2012.
Source: SERI
The Korea Times
The construction Business Intelligence Network
JP Morgan Analysis
14 15
CONSUMER PRICE INDEX TOP TWENTY CONSTRUCTION FIRMS

00 01 02 03 04 05 06 07 08 09 10 11 12
Source Korean National Statistical Ofce Source: Construction Association of Korea (www.cak.or.kr)
16 17
18
Value of Domestic Construction Orders Received Value of Construction Completed
Total Value of
Total Orders
YEAR Index Construction Index
Received Ination Ination
(base 2000) Completed (base 2000)
Mill.Won
Mill.Won
2000 41,777,534 100.0 45,989,550 100.0
2001 50,994,920 122.1 22.1% 50,576,257 110.0 10.0%
2002 67,833,659 155.1 27.1% 56,215,640 121.1 10.1%
2003 80,897,273 174.3 12.4% 65,552,986 137.7 13.7%
2004 77,774,389 170.5 -2.2% 72,837,967 148.8 8.1%
2005 83,489,358 177.8 4.3% 75,830,729 153.0 2.8%
2006 91,001,140 186.8 5.1% 77,838,924 155.6 1.7%
2007 112,501,594 210.5 12.6% 82,938,767 162.2 4.2%
2008 103,906,835 202.8 -3.6% 87,032,051 167.1 3.0%
2009 109,088,476 207.8 2.5% 89,862,939 170.3 1.9%
CONSTRUCTION ORDERS RECEIVED
2010 89,814,311 190.1 -8.5% 92,276,013 173.0 1.6%

2011 93,427,789 194.2 2.1% 91,637,715 172.3 -0.4%
Source : The Bank of Korea Economic Statisitics System
19
20
Cement Brick Rebar Sand
Concrete Pile (1,780kg/ea)
(40kg Bag) (100ea) (190X90X57) (D16mm) (Coarse)
YEAR Index Index Index Index Index
KRW (Base Ination KRW (Base Ination KRW (Base Ination KRW (Base Ination KRW (Base Ination
2001) 2001) 2001) 2001) 2001)
2001 3,000 100.0 4,300 100.0 122,357 100.0 313,333 100.0 9,125 100.0
2002 3,225 107.5 7.5% 4,500 104.7 4.7% 165,467 135.2 35.2% 336,667 107.4 7.4% 10,167 111.4 11.4%
2003 3,333 111.1 3.6% 4,833 112.4 7.8% 194,025 158.6 23.3% 402,750 128.5 21.1% 11,000 120.5 9.1%
2004 3,404 113.5 2.4% 4,600 107.0 -5.4% 176,300 144.1 -14.5% 550,417 175.7 47.1% 12,250 134.2 13.7%
2005 3,387 112.9 -0.6% 4,558 106.0 -1.0% 174,158 142.3 -1.8% 506,083 161.5 -14.1% 14,167 155.3 21.0%
2006 3,370 112.3 -0.6% 4,500 104.7 -1.4% 175,233 143.2 0.9% 455,667 145.4 -16.1% 11,333 124.2 -31.1%
2007 3,370 112.3 0.0% 4,500 104.7 0.0% 183,200 149.7 6.5% 526,500 168.0 22.6% 11,500 126.0 1.8%
MATERIAL PRICES INDICES
2008 3,387 112.9 0.6% 4,500 104.7 0.0% 213,575 174.6 24.8% 880,167 280.9 112.9% 12,417 136.1 10.0%
2009 3,857 128.6 15.7% 4,708 109.5 4.8% 225,108 184.0 9.4% 739,000 235.9 -45.1% 12,000 131.5 -4.6%
2010 3,950 131.7 3.1% 5,000 116.3 6.8% 211,997 173.3 -10.7% 744,833 237.7 1.9% 12,000 131.5 0.0%
2011 3,933 131.1 -0.6% 5,000 116.3 0.0% 212,358 173.6 0.3% 816,917 260.7 23.0% 12,000 131.5 0.0%
Source: Korean Price Index "KPI" website (www.kpi.or.kr) as at 1st Jan 2012
Note: Costs are the annual average for each year
21
22
Ready Mixed Concrete
Gravel Plywood H-Beam L-Copper Pipe
(21MPa, Slump:12cm,
(#467,40mm) (12T,4'X8') (346X174X6X9) (25 mm)
Agg:25mm)
YEAR
Index Index Index Index Index
2001) 2001) 2001) 2001) 2001)
2001 10,916 100.0 15,100 100.0 47,768 100.0 395,000 100.0 3,445 100.0
2002 11,958 109.5 9.5% 15,300 101.3 1.3% 50,200 105.1 5.1% 400,750 101.5 1.5% 2,874 83.4 -16.6%
2003 12,000 109.9 0.4% 15,125 100.2 -1.2% 52,210 109.3 4.2% 452,500 114.6 13.1% 3,161 91.8 8.3%
2004 12,833 117.6 7.6% 16,417 108.7 8.6% 53,828 112.7 3.4% 623,583 157.9 43.3% 4,499 130.6 38.8%
2005 13,083 119.9 2.3% 16,200 107.3 -1.4% 51,708 108.2 -4.4% 613,917 155.4 -2.4% 4,962 144.0 13.4%
2006 13,250 121.4 1.5% 16,792 111.2 3.9% 49,080 102.7 -5.5% 594,167 150.4 -5.0% 7,620 221.2 77.2%
2007 13,083 119.9 -1.5% 18,625 123.3 12.1% 49,080 102.7 0.0% 658,333 166.7 16.2% 7,886 228.9 7.7%
2008 12,000 109.9 -9.9% 21,558 142.8 19.4% 51,248 107.3 4.5% 1,037,500 262.7 96.0% 8,770 254.6 25.7%
2009 13,000 119.1 9.2% 24,650 163.2 20.5% 53,125 111.2 3.9% 967,500 244.9 -17.7% 7,232 209.9 -44.6%
2010 13,000 119.1 0.0% 23,692 156.9 -6.3% 54,280 113.6 2.4% 880,000 222.8 -22.2% 9,606 278.8 68.9%
2011 13,000 119.1 0.0% 25,417 168.3 11.4% 54,763 114.6 1.0% 999,583 253.1 30.3% 11,112 322.5 43.7%
23
24
Straight Asphalt (AP-3,
Stainless Steel Pipe Black Steel Pipe Galvanised Steel Sheet Gyp sum board 9.5T
Asphalt Penetrometer:
(25 mm, 2mm Thickness) (25 mm) (3 mm) (1,200x2,400) (Each)
85~100) KG
YEAR
Index Index Index Index Index
2001) 2001) 2001) 2001) 2001)
2001 5,129 100.0 1,098 100.0 585,300 100.0 5,900 100.0 285 100.0
2002 5,267 102.7 2.7% 1,138 103.6 3.6% 628,650 107.4 7.4% 6,250 105.9 5.9% 285 100.0 0.0%
2003 5,770 112.5 9.8% 1,241 113.0 9.4% 678,833 116.0 8.6% 6,250 105.9 0.0% 306 107.3 7.3%
2004 6,959 135.7 23.2% 1,675 152.6 39.5% 837,250 143.0 27.1% 6,250 105.9 0.0% 309 108.5 1.2%
2005 6,106 119.1 -16.6% 1,903 173.3 20.7% 928,750 158.7 15.6% 6,250 105.9 0.0% 303 106.1 -2.3%
2006 6,856 133.7 14.6% 1,731 157.7 -15.6% 890,833 152.2 -6.5% 6,142 104.1 -1.8% 373 131.0 24.9%
2007 9,647 188.1 54.4% 1,824 166.1 8.4% 937,500 160.2 8.0% 5,600 94.9 -9.2% 326 114.3 -16.7%
2008 9,277 180.9 -7.2% 2,712 247.0 80.9% 1,128,833 192.9 32.7% 5,998 101.7 6.8% 479 168.1 53.8%
2009 8,041 156.8 -24.1% 2,705 246.4 -0.6% 1,058,500 180.8 -12.0% 6,600 111.9 10.2% 536 188.1 19.9%
2010 8,088 157.7 0.9% 2,739 249.5 3.1% 1,176,500 201.0 20.2% 6,600 111.9 0.0% 640 224.6 36.5%
2011 8,413 164.0 6.3% 3,203 291.7 42.2% 1,354,833 231.5 30.5% 6,600 111.9 0.0% 696 244.2 19.6%
25
26
Steel Erector Rebar Worker Carpenter Concrete Worker
Index Index Index Index
Year
KRW (base Ination KRW (base Ination KRW (base Ination KRW (base Ination
2001) 2001) 2001) 2001)
2001 65,311 100.0 69,480 100.0 64,617 100.0 64,849 100.0
2002 69,256 106.0 6.0% 78,554 113.1 13.1% 73,562 113.8 13.8% 73,405 113.2 13.2%
2003 81,051 123.1 16.1% 94,877 133.8 18.4% 88,147 133.7 17.4% 89,033 134.5 18.8%
2004 90,698 135.0 9.7% 94,417 133.4 -0.4% 87,848 133.3 -0.3% 88,945 134.4 -0.1%
2005 93,738 138.3 2.5% 96,518 135.6 1.7% 89,171 134.8 1.1% 89,906 135.5 0.8%
2006 94,044 138.7 0.2% 97,888 137.0 1.0% 90,870 136.7 1.4% 90,119 135.7 0.2%
2007 95,742 140.5 1.3% 99,842 139.0 1.5% 96,614 143.1 4.6% 93,589 139.6 2.8%
LABOUR PRICES INDICES
2008 101,996 147.0 4.7% 102,645 141.8 2.0% 102,167 148.8 4.0% 98,314 144.6 3.6%
2009 105,195 150.1 2.1% 111,378 150.3 6.0% 100,797 147.5 -0.9% 99,687 146.0 1.0%
2010 107,438 152.3 1.4% 109,615 148.7 -1.1% 97,282 144.0 -2.4% 102,364 148.7 1.8%
2011 113,728 158.1 3.8% 110,192 149.3 0.4% 103,182 150.0 4.2% 103,358 149.7 0.7%
27
28
Plumber Brick Layer
Electrical Worker Stone Structure Worker
(Waterworks) (Masonry)
Year Index Index Index Index
KRW (base Ination KRW (base Ination KRW (base Ination KRW (base Ination
2004) 2001) 2001) 2001)
2001 52,139 100.0 67,523 100.0 59,255 100.0
2002 60,786 116.6 16.6% 81,174 120.2 20.2% 70,560 119.1 19.1%
2003 73,073 136.8 17.3% 94,060 136.1 13.2% 83,506 137.4 15.4%
2004 89,501 100.0 78,624 144.4 5.6% 95,983 138.1 1.5% 85,792 140.2 2.0%
2005 94,494 105.6 5.6% 80,782 147.1 1.9% 95,157 137.3 -0.6% 85,305 139.6 -0.4%
2006 101,145 112.6 6.7% 81,584 148.1 0.7% 94,885 137.0 -0.2% 83,660 137.7 -1.4%
2007 102,537 114.0 1.2% 84,552 151.8 2.5% 92,266 134.2 -2.0% 87,685 142.5 3.5%
2008 101,500 113.0 -0.9% 89,232 157.3 3.6% 97,637 140.1 4.3% 88,178 143.0 0.4%
2009 114,043 125.3 10.9% 95,676 164.5 4.6% 104,086 146.7 4.7% 90,028 145.1 1.5%
2010 116,677 127.6 1.8% 105,044 174.3 6.0% 110,318 152.6 4.1% 98,090 154.1 6.2%
2011 117,197 128.1 0.3% 115,306 184.1 5.6% 109,692 152.1 -0.4% 103,477 159.6 3.6%
29
30
Painter Plant Operator Labourer IT Installer
Year
Index (base Ination Index (base Ination Index (base Ination Index (base Ination
2001) 2001) 2001) 2001)
2001 57,680 100.0 57,435 100.0 38,132 100.0 92,285 100.0
2002 64,995 112.7 12.7% 64,612 112.5 12.5% 43,105 113.0 13.0% 100,567 109.0 9.0%
2003 78,884 134.1 19.0% 77,757 132.8 18.1% 51,433 132.4 17.1% 113,888 122.2 12.2%
2004 82,333 138.4 3.3% 81,183 137.2 3.3% 52,438 134.3 1.5% 117,915 125.8 2.9%
2005 81,981 138.0 -0.3% 80,553 136.5 -0.6% 52,753 134.9 0.4% 123,101 130.2 3.5%
2006 84,170 140.7 1.9% 83,718 140.4 2.9% 55,775 140.6 4.2% 123,500 130.5 0.2%
2007 88,575 145.9 3.7% 86,746 144.0 2.6% 58,174 144.9 3.1% 129,955 135.7 4.0%
2008 91,416 149.1 2.2% 96,616 155.4 7.9% 61,541 150.7 4.0% 142,202 145.1 6.9%
2009 93,725 151.6 1.7% 111,107 170.4 9.7% 67,266 160.0 6.2% 154,290 153.6 5.9%
2010 94,344 152.3 0.4% 121,652 179.9 5.6% 69,731 163.7 2.3% 163,758 159.8 4.0%
2011 98,524 156.7 2.9% 133,062 189.3 5.2% 73,212 168.7 3.0% 177,633 168.2 5.3%
31
32
Glass Fitter Paper Hanger Plasterer Interior Finisher
Year
Index (base Ination Index (base Ination Index (base Ination Index (base Ination
2001) 2001) 2001) 2001)
2001 59,584 100.0 57,740 100.0 60,627 100.0 47,697 100.0
2002 69,541 116.7 16.7% 74,324 128.7 28.7% 73,393 121.1 21.1% 56,376 118.2 18.2%
2003 77,478 128.1 9.8% 91,020 151.2 17.5% 84,027 135.5 12.0% 66,021 135.3 14.5%
2004 78,131 129.0 0.7% 96,730 157.5 4.1% 86,116 138.0 1.8% 77,693 153.0 13.1%
2005 80,251 131.7 2.1% 96,104 156.8 -0.4% 87,486 139.6 1.2% 77,314 152.5 -0.3%
2006 85,638 138.4 5.1% 97,252 158.0 0.8% 88,251 140.5 0.6% 77,600 152.9 0.2%
2007 86,116 139.0 0.4% 99,150 160.0 1.2% 88,763 141.1 0.4% 76,882 151.9 -0.6%
2008 87,253 140.3 1.0% 98,589 159.4 -0.4% 95,540 148.7 5.4% 84,531 161.9 6.5%
2009 93,976 148.0 5.5% 96,410 157.2 -1.4% 95,854 149.0 0.2% 83,633 160.8 -0.7%
2010 92,849 146.8 -0.8% 102,761 163.8 4.2% 96,339 149.5 0.3% 85,606 163.2 1.5%
2011 98,215 152.6 3.9% 108,098 169.0 3.2% 99,003 152.3 1.8% 88,630 166.7 2.2%
33
CONSTRUCTION COST DATA
Preambles
Constructions Costs For Seoul
Constructions Costs For Major Cities In Asia
Cost Breakdown For Different Building Types
Unit Rates Of Major Work Items

For Cities In Asia
M&E Costs For Seoul
M&E Costs For Major Cities In Asia
Utility Costs For Asian Cities
PREAMBLES
The construction costs for the respective categories given g. Basement works which are carried out in phases may
on the following pages are average costing at 4th Quarter require additional temporary works and different types of
2011. They are based on interpolation of competitive tenders construction sequence
received and negotiated.
h. Deep basement (i.e. levels of basement)
Looking ahead, construction cost in 2012 is likely to increase
moderately, if at all i. Selection of Contractor (i.e. local or foreign)
The construction cost serves as a guide for preliminary cost j. Shape of the existing site as longish sites would generally
appraisals and budgeting. It must be understood that the actual attract higher cost due to higher wall to oor ratio
cost of a building will depend upon the design and many other
factors such as major infrastructure of the buildings/structures, All buildings are assumed to have no basements (except
etc. and may vary from the gures shown. The costs per square otherwise stated) and are build on at ground, with normal soil
metre are based on construction floor areas measured to the conditions and minimal external works. The costs exclude the
outside face of the external walls/external perimeter including following:
lift shafts, stairwells, plant rooms, water tanks and the like. Professional fees
Authorities plan processing charges
As a guide, it might be worth to note that construction costs Land cost
generally may vary accordingly depending on the following Financing charges
specic requirements: Site inspectorate
Administrative expenses
a. Complexity of the project Legal costs and disbursements
Demolition of existing building/s
b. Site encumbrances Loose furniture and ttings
Operating equipment
c. The need of special structures such as heavy transfer Cost escalation
structures over MRT/RTS structure/tracks/boxes, etc. or due Goods and Services Tax
to close proximity to nearby infrastructure such as canals,
bridges, etc. The codes and standards for each category of building vary
from country to country and do not necessarily follow those of
d. The types of structure system (i.e. reinforced concrete or Korea.
structural steel system, precast/prefabrication, etc.)
e. The types of temporary works required (i.e. diaphragm

walls, sheet piling, etc.)
f. The method of construction e.g. conventional or top down
36 37
CONSTRUCTION COSTS FOR SEOUL
Overall Cost
TYPES KRW/m2
2010 2011
DOMESTIC
Detached houses and bungalows 2,170,000 2,240,000
Terraced houses 1,800,000 1,870,000
Av. standard apartments, high rise 1,440,000 1,490,000
Luxury apartments, high rise 1,790,000 1,860,000
OFFICE/COMMERCIAL
Av. standard ofces, high rise 1,140,000 1,150,000
Prestige ofces, high rise 1,470,000 1,520,000
Shopping Centres 1,815,000 1,855,000
HOTELS
Resort Hotels 1,730,000 1,745,000
3-star budget hotels (incl. F.F. & E.) 1,920,000 1,980,000
5-star luxury hotels, ditto 2,550,000 2,640,000
OTHERS
Basement carparks (<3 levels) 1,080,000 1,050,000

Elevated carparks (<4 levels) 610,000 650,000
Single storey factory of struc. steel 770,000 700,000
Primary and Secondary Schools 2,050,000 2,050,000
Student hostels 1,220,000 1,220,000
Sports Clubs inclusive of F.F.&E. 1,650,000 1,650,000
The above costs are based on 4th Quarter gures.

For latest costs information, please refer to our 'DLS Quaterly Cost
Publication".
38 39
CONSTRUCTION COSTS FOR MAJOR

CITIES IN ASIA
BRIEF NOTES
RESIDENTIAL INDUSTRIAL
Detached Houses Light Duty Flatted Factories

Cost is for 2-storey detached houses with or without air- Cost is for multi-tenancy building with basic nishes and no
conditioning, garden, parking and the like depending on air-conditioning.
custom.
Single Storey Factories
Average Standard Apartment, High Rise Cost is for conventional factories with basic nishes and no
Cost is for average standard apartments with limited facilities air-conditioning.
and air-conditioning to bedrooms only. Cost excludes car
parks.
HOTELS
Luxury Apartments, High Rise
Cost is for good quality apartments with full facilities and air- Cost includes the following F.F. & E.:
conditioning to all the rooms. Cost excludes car parks. a) Interior decoration
b) Furniture and ttings (xed and movable)
c) Sanitary ttings and accessories
COMMERCIAL d) Light ttings
Cost excludes operating equipment and pre-opening expenses.
Average Standard Ofce, High Rise
Cost is for average standard ofces with air-conditioning and
basic nishes. Cost excludes car parks. OTHERS
Prestige Ofces, High Rise Basement Car Parks

Cost is for up-market ofces with curtain walling (or similar Cost is for basement car parks with mechanical ventilation.
high grade cladding system) and good quality finishes. Cost
excludes car parks. Elevated Car Parks
Cost is for multi-storey car parks with natural ventilation and
Shopping Centres no curtain walling.
Cost is for average quality shopping centres with limited
finishes and M&E services within the shops (i.e. no air- Schools
conditioning ducting, light ttings, sprinkler points and ceiling Cost is for public schools. Cost excludes air-conditioning.
and oor nishes).
40 41

CITIES IN ASIA
(US$/m2)
DESCRIPTION SEOUL* KUALA LUMPUR
4Q 2010 4Q 2011 4Q 2010 4Q 2011
RESIDENTIAL
Detached houses and bungalows 1,920 1,960 943 962
Terraced houses 1,600 1,630 313 317
Average standard apartments, high rise 1,280 1,310 453 463
Luxury apartments, high rise 1,590 1,630 1,051 1,070
OFFICE/COMMERCIAL
Average standard ofces, high rise 1,140 1,160 739 752
Prestige ofces, high rise 1,300 1,330 1,084 1,105
Shopping centres 1,460 1,620 900 917
INDUSTRIAL
Light duty atted factories N/A N/A 431 438
Heavy duty atted factories and warehouses N/A N/A 512 521
Single storey conventional factories 685 700 426 435
Owner operated factories, low rise N/A N/A 510 530
HOTELS
Resort hotels 1,530 1,530 1,310 1,333
3-star budget hotels, inclusive of F.F. & E. 1,700 1,730 1,509 1,537
5-star luxury hotels, inclusive of F.F. & E. 2,260 2,300 2,199 2,241
OTHERS
Basement car parks (<3 levels) 960 920 464 505

Elevated car parks (<4 levels) 545 567 281 286
Primary and secondary schools 1,820 1,790 299 327
Student hostels 1,080 1,065 380 413
Sports clubs inclusive of F.F. & E. 1,460 1,440 783 854
Exchange Rate Used: US$1 = KRW1,128 KRW1,145 RM3.12 RM3.15
NOTE: *Rates are nett of VAT and exclusive of contingencies

The above costs are at 4th Quarter 2011 levels, inclusive of
preliminaries and contingencies unless otherwise stated.
42 43

CITIES IN ASIA
(US$/m2)
DESCRIPTION KARACHI BANGKOK*
4Q 2010 4Q 2011 4Q 2010 4Q 2011
RESIDENTIAL
Detached houses and bungalows 985 - 1040 985 - 1150 967 967
Terraced houses 235 - 315 250 - 350 584 583
Average standard apartments, high rise 580 - 750 580 - 775 829 828
Luxury apartments, high rise 870 - 980 870 - 1150 1,162 1,162
OFFICE/COMMERCIAL
Average standard ofces, high rise 575 - 695 575 - 725 751 750
Prestige ofces, high rise 925 - 1040 950 - 1150 984 983
Shopping Centres 695 - 870 695 - 900 801 800
INDUSTRIAL
Light duty atted factories 290 - 350 300 - 375 600 600
Heavy duty atted factories and warehouses 350 - 400 350 - 450 N/A N/A
Single storey conventional factory of structural steelwork 435 435 - 450 600 600
Owner operated factories, low rise 315 - 405 325 - 425 N/A N/A
HOTELS
Resort Hotels 1965 - 2305 1965 - 2350 2,268 2,267
3-star budget hotels inclusive of F.F. & E. 1125 - 1390 1125 - 1450 1,368 1,367
5-star luxury hotels, ditto 1730 - 2075 1800 - 2100 1,935 1,933
OTHERS
Basement carparks (<3 levels) 255 - 290 275 - 325 684 683
Elevated carparks (<4 levels) 200 - 235 200 - 250 350 350
Primary and Secondary Schools 520 - 640 550 - 675 N/A N/A
Student hostels 405 - 520 410 - 540 N/A N/A
Sports Clubs inclusive of F.F.&E. 790 - 870 810 - 900 N/A N/A
Exchange Rate Used: US$1 = Rs.86.00 PKR89.42 Baht 29.98 Baht 30.00
NOTE: *Rates are nett of VAT & contingencies

44 45

CITIES IN ASIA
(US$/m2)
DESCRIPTION BRUNEI JAKARTA*
4Q 2010 4Q 2011 4Q 2010 4Q 2011
RESIDENTIAL
Detached houses and bungalows 715 751 435 475
Terraced houses 500 525 N/A N/A
Average standard apartments, high rise 830 871 525 595
Luxury apartments, high rise 1,020 1,071 715 800
OFFICE/COMMERCIAL
Average standard ofces, high rise 830 871 535 575
Prestige ofces, high rise 1,135 1,192 810 860
Shopping Centres 1,045 1,097 465 495
INDUSTRIAL
Light duty atted factories 460 483 N/A N/A
Heavy duty atted factories and warehouses N/A N/A N/A N/A
Single storey conventional factory of structural steelwork 420 441 240 260
Owner operated factories, low rise N/A N/A N/A N/A
HOTELS
Resort Hotels 1,360 1,438 1,120 1,200
3-star budget hotels inclusive of F.F. & E. 1,485 1,559 910 980
5-star luxury hotels, ditto 2,060 2,163 1,300 1,395
OTHERS
Basement carparks (<3 levels) N/A N/A 285 390

Elevated carparks (<4 levels) 470 494 230 260
Primary and Secondary Schools 660 693 N/A N/A
Student hostels 755 793 N/A N/A
Sports Clubs inclusive of F.F.&E. N/A N/A N/A N/A
Exchange Rate Used: US$1 = B$1.3892 B$1.26 IDR9,000 8,910,000
NOTE: *Rates are nett of VAT

46 47

CITIES IN ASIA
(US$/m2)
DESCRIPTION MANILA* SINGAPORE**
4Q 2010 4Q 2011 4Q 2010 4Q 2011
RESIDENTIAL
Detached houses and bungalows 1,140 1,210 2,270 2,400
Terraced houses 580 620 1,925 2,040
Average standard apartments, high rise 825 845 1,580 1,680
Luxury apartments, high rise 1,040 1,070 2,615 2,760
OFFICE/COMMERCIAL
Average standard ofces, high rise 810 820 1,965 2,080
Shopping Centres 735 960 2,115 2,240
INDUSTRIAL
Light duty atted factories 420 430 1,000 1,120
Heavy duty atted factories and warehouses 465 475 1,235 1,360
Owner operated factories, low rise 420 440 N/A N/A
HOTELS
Resort Hotels 1,265 1,290 2,350 2,480
3-star budget hotels inclusive of F.F. & E. 1,215 1,230 2,425 2,560
OTHERS
Basement carparks (<3 levels) 450 480 1,185 1,310

Primary and Secondary Schools 555 590 995 1,055
Student hostels 675 695 1,095 1,160
Sports Clubs inclusive of F.F.&E. 1,180 1,260 1,665 1,770
Exchange Rate Used: US$1 = PHP44 PHP43 S$1.30 S$1.25
NOTE: *Rates are exclusive of contingencies & include 12% VAT

The above costs are at 4th Quarter 2011 levels, inclusive of **Rates are nett of GST and exclusive of contingencies
48 49

CITIES IN ASIA
(US$/m2)
DESCRIPTION HONG KONG* BEIJING*
4Q 2010 4Q 2011 4Q 2010 4Q 2011
RESIDENTIAL
Terraced houses 2,600 2,863 456 528
OFFICE/COMMERCIAL
Average standard ofces, high rise 2,000 2,251 763 947
Shopping Centres 2,320 2,545 941 1,090
INDUSTRIAL
Light duty atted factories 1,090 1,184 N/A N/A
Heavy duty atted factories and warehouses 1,190 1,334 N/A N/A
Single storey conventional factory of structural steelwork N/A N/A 513 586
Owner operated factories, low rise 1,610 1,805 670 765
HOTELS
Resort Hotels N/A N/A N/A N/A
3-star budget hotels inclusive of F.F. & E. 2,500 2,713 1,008 1,116
OTHERS
Basement carparks (<3 levels) 1,700 1,900 680 780

Elevated carparks (<4 levels) 930 1,028 394 456
Primary and Secondary Schools 1,390 1,497 550 632
Student hostels 1,695 1,663 290 335
Sports Clubs inclusive of F.F.&E. 2,930 2,852 850 970
Exchange Rate Used: US$1 = HK 7.80 HK 7.80 RMB6.63 RMB6.35
NOTE: *Rates are exclusive of contingencies

50 51

CITIES IN ASIA
(US$/m2)
DESCRIPTION SHANG-HAI* SHENZHEN/GUANG-ZHOU*
4Q 2010 4Q 2011 4Q 2010 4Q 2011
RESIDENTIAL
Terraced houses 750 822 400 439
Average standard apartments, high rise 600 658 479 525
Luxury apartments, high rise 900 987 552 605
OFFICE/COMMERCIAL
Average standard ofces, high rise 900 987 693 760
Prestige ofces, high rise 1,200 1,316 952 1,044
INDUSTRIAL
Light duty atted factories N/A N/A N/A N/A
Heavy duty atted factories and warehouses N/A N/A N/A N/A
Owner operated factories, low rise 670 735 591 648
HOTELS
Resort Hotels 1,250 1,370 N/A N/A
3-star budget hotels inclusive of F.F. & E. 1,000 1,096 N/A N/A
OTHERS
Basement carparks (<3 levels) 750 830 692 759

Primary and Secondary Schools 540 598 379 415
Student hostels 310 343 243 266
Sports Clubs inclusive of F.F.&E. 950 1,051 728 798
Exchange Rate Used: US$1 = RMB6.63 RMB6.35 RMB6.63 RMB6.35
NOTE: *Rates are exclusive of contingencies

52 53

CITIES IN ASIA
(US$/m2)
DESCRIPTION MACAU* INDIA**
4Q 2010 4Q 2011 4Q 2010 4Q 2011
RESIDENTIAL
Detached houses and bungalows N/A 3,455 395 409
Terraced houses N/A 3,015 290 300
OFFICE/COMMERCIAL
Average standard ofces, high rise N/A 2,200 410 406
Prestige ofces, high rise N/A 2,520 510 514
INDUSTRIAL
Light duty atted factories N/A 1,245 280 263
Heavy duty atted factories and warehouses N/A N/A 310 313
Single storey conventional factory of structural steelwork N/A N/A 255 252
Owner operated factories, low rise N/A N/A 320 317
HOTELS
Resort Hotels N/A N/A 670 723
3-star budget hotels inclusive of F.F. & E. 2,515 2,560 685 817
5-star luxury hotels, ditto 3,264 3,480 1680 1588
OTHERS
Basement carparks (<3 levels) 942 1,230 250 254

Primary and Secondary Schools 850 N/A 185 178
Student hostels N/A N/A 220 228
Sports Clubs inclusive of F.F.&E. N/A N/A 595 605
Exchange Rate Used: US$1 = MOP7.99 MOP7.97 INR45 INR50
NOTE: *Rates are exclusive of contingencies and any management contract

The above costs are at 4th Quarter 2011 levels, inclusive of fee
preliminaries and contingencies unless otherwise stated. **Rates are based on projects in Bangalore and are nett of VAT and
Service Tax. Mumbai costs are generally 8% higher.
54 55

CITIES IN ASIA
(US$/m2)
DESCRIPTION TOKYO HO CHI MINH*
4Q 2010 4Q 2011 4Q 2010 4Q 2011
RESIDENTIAL
Detached houses and bungalows 2,610 2,760 460-555 500-600
Terraced houses N/A N/A 390-445 425-485
Average standard apartments, high rise 2,110 2,230 585-700 635-760
Luxury apartments, high rise 2,940 3,100 755-875 815-945
OFFICE/COMMERCIAL
Average standard ofces, high rise 2,540 2,680 700-815 760-880
Prestige ofces, high rise 3,030 3,200 820-1040 890-1130
Shopping Centres 2,070 2,190 640-755 695-815
INDUSTRIAL
Light duty atted factories 1,460 1,540 220-360 238-390
Heavy duty atted factories and warehouses 1,930 2,040 365-470 395-510
Single storey conventional factory of structural steelwork 1,670 N/A 355-470 N/A
Owner operated factories, low rise N/A N/A 365-455 395-495
HOTELS
Resort Hotels 3,320 3,510 1100-1380 1195-1500
3-star budget hotels inclusive of F.F. & E. 3,300 3,480 1385-1620 1495-1750
5-star luxury hotels, ditto 4,830 5,100 1680-1895 1825-2060
OTHERS
Basement carparks (<3 levels) N/A N/A 590-675 640-730

Elevated carparks (<4 levels) 1,600 1,690 315-420 340-455
Primary and Secondary Schools 1,960 2,070 440-460 475-500
Student hostels 1,790 1,890 460-580 500-630
Sports Clubs inclusive of F.F.&E. 2,160 2,280 700-775 755-840
Exchange Rate Used: US$1 = JPY82.50 JPY78.14 VND 19,500 VND 21,011
NOTE: *Rates are nett of VAT and contingencies

56 57
COST BREAKDOWN FOR DIFFERENT

BUILDING TYPES
58 59
UNIT RATES OF MAJOR WORK ITEMS FOR

CITIES IN ASIA
SEOUL* KUALA LUMPUR

DESCRIPTION UNIT KRW RM
4Q 2010 4Q 2011 4Q 2010 4Q 2011
1. Excavating basement not exceeding 2m deep m3 2,050 2,100 15 - 20 15 - 20

2. Excavating for footings not exceeding 1.5m deep m3 2,050 2,100 15 - 20 15 - 20
3. Remove excavated materials off site m3 12,000 12,000 20 - 25 20 - 25
4. Hardcore bed blinded with ne materials m3 23,000 26,500 50 - 65 60 - 70
3
5. Mass concrete grade 15 m 55,000 57,000 230 - 250 230 - 250
6. Reinforced concrete grade 30 m3 71,500 72,000 250 - 280 250 - 280
7. Mild steel rod reinforcement kg 1,010 1,070 3.0 - 3.5 3.50 - 3.80
8. High tensile rod reinforcement kg 1,050 1,080 3.0 - 3.5 3.50 - 3.80
9. Sawn formwork to softs of suspended slabs m2 22,000 23,000 30 - 38 30 - 38
2
10. Sawn formwork to columns and walls m 22,000 23,000 30 - 38 30 - 38
11. 112.5mm thick brick walls m2 40,000 40,000 32 - 45 32 - 45
12. "Kliplok Colorbond" 0.64mm proled steel sheet m2 30,000 35,000 55 - 60 55 - 60
13. Aluminium casement windows, single glazed m2 245,000 249,900 350 - 500 350 - 500
14. Structural steelwork - beams, stanchions and like kg 2,080 2,400 6.0 - 7.5 6.00 - 7.50
15. Steelwork - angles, channels, ats and the like kg 1,700 1,900 6.0 - 7.5 6.00 - 7.50
16. 25mm Cement and sand (1:3) paving m2 1,900 2,500 13 - 20 15 - 22
17. 20mm Cement and sand (1:4) plaster to walls m2 8,300 8,300 15 - 20 15 - 22
18. Ceramic tiles bedded to oor screed (m/s) m2 32,000 55,000 50 - 70 50 - 70
19. 12mm brous plasterboard ceiling lining m2 3,400 24,000 30 - 45 30 - 45
20. Two coats of emulsion paint to plastered surfaces m2 6,100 7,100 3.5 - 4.0 3.50 - 4.00
Average expected preliminaries % 5-10 6-11 6 - 12 6 - 12
NOTE: *Rates include labour costs and are nett of VAT

Costs are based on lump sum fixed price contract rate exclusive of
preliminaries and contingencies unless otherwise stated
60 61

CITIES IN ASIA
KARACHI BANGKOK*
DESCRIPTION UNIT Rs BAHT
4Q 2010 4Q 2011 4Q 2010 4Q 2011
1. Excavating basement not exceeding 2m deep m3 375 - 530 385 - 635 100 100
2. Excavating for footings not exceeding 1.5m deep m3 310 - 435 320 - 495 100 100
3. Remove excavated materials off site m3 175 - 225 180 - 280 100 100
4. Hardcore bed blinded with ne materials m3 1,060-1,235 1170 - 1413 500 600
3
5. Mass concrete grade 15 m 4,400-4,700 5000 - 5500 1,800 2,000
6. Reinforced concrete grade 30 m3 7,350-8,500 7500 - 8500 2,100 2,400
7. Mild steel rod reinforcement kg 80 -110 80 - 110 27 31
8. High tensile rod reinforcement kg 75 - 115 77 - 115 26 30
9. Sawn formwork to softs of suspended slabs m2 485 - 590 485 - 625 350 350
2
10. Sawn formwork to columns and walls m 485 - 590 550 - 790 350 350
11. 112.5mm thick brick walls m2 750 - 915 990 - 1060 700 700
12. "Kliplok Colorbond" 0.64mm proled steel sheeting m2 3,765-4,845 3765 - 4845 1,000 1,200
13. Aluminium casement windows, single glazed m2 4,850-6,456 5000 - 7500 5,500 6,000
14. Structural steelwork - beams, stanchions and the like kg 135 - 150 135 - 160 55 55
15. Steelwork - angles, channels, ats and the like kg 135 - 150 135 - 160 55 55
16. 25mm Cement and sand (1:3) paving m2 425 - 590 425 - 590 180 200
17. 20mm Cement and sand (1:4) plaster to walls m2 375 - 580 375 - 580 200 200
18. Ceramic tiles bedded to oor screed (m/s) m2 1,025-1,400 1300 - 1500 1,200 1,200
19. 12mm brous plasterboard ceiling lining m2 850 - 1185 850 - 1250 800 800
20. Two coats of emulsion paint to plastered surfaces m2 270 - 375** 270 - 375 100 100
Average expected preliminaries % 8-10 8-10 10 15 10 15

Costs are based on lump sum fixed price contract rate exclusive of **Item 20 - Including lling materials
62 63

CITIES IN ASIA
BRUNEI JAKARTA*
DESCRIPTION UNIT B$ RP'000
4Q 2010 4Q 2011 4Q 2010 4Q 2011
1. Excavating basement not exceeding 2m deep m3 4.00 3.50 21.00 23.00

2. Excavating for footings not exceeding 1.5m deep m3 3.00 3.00 21.00 30.00
3. Remove excavated materials off site m3 2.60 3.00 21.00 25.00
4. Hardcore bed blinded with ne materials m 3
42.00 37.00 27.00 270.00
5. Mass concrete grade 15 m3 120.00 117.00 71.00 710.00
6. Reinforced concrete grade 30 m3 138.00 132.00 85.00 850.00
7. Mild steel rod reinforcement kg 1.20 0.98 9.50 10.00
8. High tensile rod reinforcement kg 1.20 0.98 9.50 10.00
9. Sawn formwork to softs of suspended slabs m2 13.80 14.50 100.00 120.00
10. Sawn formwork to columns and walls m2 13.50 14.00 100.00 120.00
11. 112.5mm thick brick walls m2 19.50 18.50 100.00 120.00
12. "Kliplok Colorbond" 0.64mm proled steel sheeting m2 58.00 56.00 165.00 175.00
13. Aluminium casement windows, single glazed m2 160 - 210 166 - 216 810.00 880.00
14. Structural steelwork - beams, stanchions and the like kg 2.50 3.00 16.00 18.00
15. Steelwork - angles, channels, ats and the like kg 2.20 2.70 16.00 18.00
16. 25mm Cement and sand (1:3) paving m2 7.50 7.50 42.00 44.00
17. 20mm Cement and sand (1:4) plaster to walls m2 8.00 8.00 42.00 50.00
18. Ceramic tiles bedded to oor screed (m/s) m2 25.00 23.00 90.00 110.00
19. 12mm brous plasterboard ceiling lining m2 18.00 28.00 85** 100.00
20. Two coats of emulsion paint to plastered surfaces m 2
3.50 5.00 17.00 18.00
Average expected preliminaries % 5-8 5-8 5-10 5-10

Costs are based on lump sum fixed price contract rate exclusive of **Item 19 - 9mm gymsum board
64 65

CITIES IN ASIA
MANILA SINGAPORE*
DESCRIPTION UNIT PHP S$
4Q 2010 4Q 2011 4Q 2010 4Q 2011
1. Excavating basement not exceeding 2m deep m3 350 350 16.50 16.50

2. Excavating for footings not exceeding 1.5m deep m3 250 250 16.50 16.50
3. Remove excavated materials off site m3 200 200 15.00 15.00
2,500 2,500 50.00 50.00
5. Mass concrete grade 15 m3 3,500 3,500 182** 202.00
6. Reinforced concrete grade 30 m3 4,800 4,800 150-165 155.00-170.00
7. Mild steel rod reinforcement kg 42 47 1.55-1.70 1.60-1.75
8. High tensile rod reinforcement kg 43 48 1.55-1.70 1.60-1.75
9. Sawn formwork to softs of suspended slabs m2 800 850 30-33 30.00-33.00
10. Sawn formwork to columns and walls m2 750 800 30-33 30.00-33.00
11. 112.5mm thick brick walls m2 N/A N/A 30-35 30.00-35.00
12. "Kliplok Colorbond" 0.64mm proled steel sheeting m2 900 900 43.00 43.00
13. Aluminium casement windows, single glazed m2 9,000 9,000 290.00 290.00
14. Structural steelwork - beams, stanchions and the like kg 95 100 4.80-5.80 4.80-5.80
15. Steelwork - angles, channels, ats and the like kg 90 95 4.80-5.80 4.80-5.80
16. 25mm Cement and sand (1:3) paving m2 350 350 10.50 11.00
17. 20mm Cement and sand (1:4) plaster to walls m2 350 350 15.00 15.50
18. Ceramic tiles bedded to oor screed (m/s) m2 1,200 1,200 65.00 65.50
19. 12mm brous plasterboard ceiling lining m2 1,300 1,300 30.00 30.00
350 350 3.50-4.00 3.50-4.00
NOTE: *Rates are nett of GST

Costs are based on lump sum fixed price contract rate exclusive of **Item 5 - Rate for lean concrete blinding
66 67

CITIES IN ASIA
HONG KONG BEIJING

DESCRIPTION UNIT HK$ RMB
4Q 2010 4Q 2011 4Q 2010 4Q 2011
1. Excavating basement not exceeding 2m deep m3 105 115 11 15

2. Excavating for footings not exceeding 1.5m deep m3 100 110 11 18
3. Remove excavated materials off site m3 175* 190" 25 25
4. Hardcore bed blinded with ne materials m3 600 650 115 120
5. Mass concrete grade 15 m3 850 900 310 500
6. Reinforced concrete grade 30 m3 1,080 1,130 410 560
9. Sawn formwork to softs of suspended slabs m2 150 180 37 65
10. Sawn formwork to columns and walls m 2
150 180 37 55
11. 112.5mm thick brick walls m2 170 190 45 90
12. "Kliplok Colorbond" 0.64mm proled steel sheeting m2 560 600 N/A n/a
13. Aluminium casement windows, single glazed m2 1,400 1,700 700** 780+
14. Structural steelwork - beams, stanchions and the like kg 23 25 11 11
15. Steelwork - angles, channels, ats and the like kg 26 27 11 11
16. 25mm Cement and sand (1:3) paving m2 75 80 16 20
17. 20mm Cement and sand (1:4) plaster to walls m2 90 95 14 22

18. Ceramic tiles bedded to oor screed (m/s) m2 250 270 110 120
19. 12mm brous plasterboard ceiling lining m2 400 430 130 140
42 44 28 30
Average expected preliminaries % 10 - 15 10 - 15 5-10 5-10
NOTE: *Item 3 - Rate including waste charges implemented on Dec 2005

Costs are based on lump sum fixed price contract rate exclusive of **Item 13 - rate for double glazed window
68 69

CITIES IN ASIA
SHANGHAI SHENZHEN/GUANG-ZHOU
DESCRIPTION UNIT RMB RMB
4Q 2010 4Q 2011 4Q 2010 4Q 2011

3. Remove excavated materials off site m3 90* 105 65 68
160 168 150 155
5. Mass concrete grade 15 m3 380 400 370 380
6. Reinforced concrete grade 30 m3 450 470 450 465
10. Sawn formwork to columns and walls m 2
50 55 45 45
11. 112.5mm thick brick walls m2 55** 60## 55 58
12. "Kliplok Colorbond" 0.64mm proled steel sheeting m2 N/A N/A N/A N/A
13. Aluminium casement windows, single glazed m2 580 600 550 550
14. Structural steelwork - beams, stanchions and the like kg 12.00 12.00 13 14
15. Steelwork - angles, channels, ats and the like kg 10.00 10.00 10.00 11.00

18. Ceramic tiles bedded to oor screed (m/s) m2 150 160 110 115
30 32 25 26
NOTE: *Item 3 - Higher rate due to Expo mandatory dumping charges

Costs are based on lump sum fixed price contract rate exclusive of **Item 11 - Rate for 120mm thick concrete block walls,
70 71

CITIES IN ASIA
MACAU INDIA*
DESCRIPTION UNIT MOP Rs
4Q 2010 4Q 2011 4Q 2010 4Q 2011

3. Remove excavated materials off site m3 58 60 95 100
235 580 2,860 3,060
5. Mass concrete grade 15 m3 670 680 3,450 4,200
6. Reinforced concrete grade 30 m3 710 730 4,290 5,125
7. Mild steel rod reinforcement kg 11.00 9.50 35 40
8. High tensile rod reinforcement kg 11.00 9.50 38 42
10. Sawn formwork to columns and walls m2 180 160 375 450
11. 112.5mm thick brick walls m2 175 250 575 700
12. "Kliplok Colorbond" 0.64mm proled steel sheeting m2 N/A N/A 935 960
13. Aluminium casement windows, single glazed m2 1,200 2,000 3,200 3,700
14. Structural steelwork - beams, stanchions and the like kg 35 35 60 75
15. Steelwork - angles, channels, ats and the like kg 32 32 60 75
18. Ceramic tiles bedded to oor screed (m/s) m2 230 400 900 1,100
80 80 130 130
Average expected preliminaries % 8 - 15 8-15 5-10 5-10
NOTE: *Rates are based on projects in Bangalore and are nett of VAT and
Costs are based on lump sum fixed price contract rate exclusive of Service Tax. Mumbai costs are generally 7% higher.
72 73

CITIES IN ASIA
TOKYO HO CHI MINH*

DESCRIPTION UNIT JPY VND
4Q 2010 4Q 2011 4Q 2010 4Q 2011
1. Excavating basement not exceeding 2m deep m3 890 890 63,000 69,000

2. Excavating for footings not exceeding 1.5m deep m3 940 940 60,000 64,000
3. Remove excavated materials off site m3 3,140 3,140 61,000 66,000
8,100 8,100 272,000 306,000
5. Mass concrete grade 15 m3 11,200 11,200 1,268,000 1,352,000
6. Reinforced concrete grade 30 m3 13,200 13,200 1,558,000 1,730,000
7. Mild steel rod reinforcement kg 68 68 19,700 23,300
8. High tensile rod reinforcement kg 83 83 19,490 22,200
9. Sawn formwork to softs of suspended slabs m2 3,400 3,400 163,000 181,000
10. Sawn formwork to columns and walls m2 3,400 3,400 196,000 223,000
11. 112.5mm thick brick walls m2 13,100 13,100 168,000 165,000
12. "Kliplok Colorbond" 0.64mm proled steel sheeting m2 2,200 2,200 420,000 516,000
13. Aluminium casement windows, single glazed m2 23,000 23,000 2,405,000 2,545,000
14. Structural steelwork - beams, stanchions and the like kg 210 210 28,000 33,500
15. Steelwork - angles, channels, ats and the like kg 320 320 27,000 38,500
16. 25mm Cement and sand (1:3) paving m2 2,600 2,600 52,000 46,000
17. 20mm Cement and sand (1:4) plaster to walls m2 3,000 3,000 66,000 66,350
18. Ceramic tiles bedded to oor screed (m/s) m2 6,100 6,100 240,000 245,000
19. 12mm brous plasterboard ceiling lining m2 N/A N/A 282,000 300,000
900 900 55,000 62,300

Costs are based on lump sum fixed price contract rate exclusive of
74 75
M&E COSTS FOR SEOUL
ACMV Electrical Hydraulic Fire Lifts BAS

Types
KRW/m2 KRW/m2 KRW/m2 KRW/m2 KRW/m2 KRW/m2
RESIDENTIAL
Detached Houses 59,000-98,000 80,000-110,000 75,000-166,500 550-1,500 N/A 675-16,500
Av Standard Condo, High Rise 59,000-71,000 100,000-130,000 44,000-57,000 14,000-23,500 26,000-44,000 1,400-1,800
Luxury Condo, High Rise 72,500-103,500 130,000-170,000 51,000-78,000 14,000-28,000 38,000-65,000 2,200-3,700
OFFICE
Av Standard Ofces, High Rise 152,000-178,000 220,000-300,000 32,000-43,000 33,000-48,000 42,000-45,000 12,900-23,000
Prestige Ofces, High Rise 157,500-195,000 300,000-365,000 37,000-59,000 40,000-55,000 45,000-95,000 19,300-30,500
INDUSTRIAL
Flatted Factories 72,000-119,000 115,000-140,000 19,000-33,500 38,000-47,000 16,000-25,000 4,000-12,700
Warehouses 25,000-63,000 70,000-110,000 16,000-25,000 20,000-44,000 16,000-52,000 4,000-12,500
HOTELS
Resort Hotels 136,500-126,500 240,000-320,000 81,500-70,500 46,500-36,500 65,000-105,000 5,600-17,700
3-Star Hotels 139,000-181,000 300,000-400,000 74,000-96,500 49,000-56,000 75,000-115,000 12,900-22,000
5-Star Hotels 180,500-230,000 360,000-230,000 96,000-101,500 50,500-61,000 115,000-152,000 28,100-39,800
OTHERS
Elevated Car Parks N/A 20,000-50,000 7,000-24,000 6,500-22,500 0-25,000 N/A
Basement Car Parks 16,000-31,000 40,000-60,000 8,000-15,000 23,500-33,000 0-25,000 1,600-5,200
Shopping Centres 132,000-201,000 200,000-230,000 39,500-66,500 32,500-59,500 55,000-78,000 3,700-34,700
NOTE:
The above costs are at 4th Quarter 2011 levels.
76 77
M&E COSTS FOR MAJOR CITIES IN ASIA
SEOUL# KUALA LUMPUR KARACHI BANGKOK# BRUNEI

DESCRIPTION
KRW/m2 RM/m2 Rs/m2 BAHT/m2 B$/m2
MECHANICAL SERVICES
Ofces 200,000-280,000 350-455 3750 - 8500 3900-4800 133 - 166
Industrial* 87,000-150,000 60-90 1085 - 1890 1250-1400 17 - 29
Hotels 205,000-330,000 280-450 7600 - 9950 4500-5100 214 - 247
Shopping Centres 144,000-240,000 280-410 7600 - 9950 4400-4800 152 - 181
Apartment 92,000-169,000 200-283 2600 - 3500 4400-4500 157 - 181
ELECTRICAL SERVICES
Ofces 250,000-365,000 220-465 4425 - 5413 2250-2500 171 - 214
Industrial** 115,000-150,000 140-157 2431 - 3392 1650-1700 143 - 171
Hotels 350,000-460,000 240-590 5850 - 9925 2750-3200 214 - 280
Apartment 130,000-165,000 85-210 2000 - 3270 2390-2950 185 - 233
HYDRAULIC SERVICES
Ofces 32,000-55,000 23-52 765 - 1205 750-890 12 - 29
Industrial 20,000-30,000 36-45 630 - 835 700-780 8 - 14
Hotels 57,000-89,000 175-235 3200 - 4845 1350-1490 45 - 62
Apartment 49,000-65,000 18-45 1360 - 1970 1150-1350 28 - 44
FIRE SERVICES
Ofces 40,000-65,000 57-80 1285 - 1675 760-850 24 - 29
Industrial 27,000-30,000 45-60 1125 - 2025 720-750 9 - 14
Hotels 56,000-87,000 65-90 1285 - 2650 750-850 19 - 36
Apartment 32,000-65,000 20-25 850 - 1350 760-850 19 - 38

LIFTS/ESCALATORS
Ofces 45,000-60,000 88-400 1745 - 3100 1000-1050 7 - 24
Industrial 16,000-25,000 54-190 1745 - 3100 N/A 3 - 14
Hotels 110,000-155,000 85-370 3500 - 8100 1000-1100 9 - 33
Apartment 27,000-38,000 63-105 1745 - 3100 450-500 8 - 19
NOTE: # Based upon nett enclosed area and nett of VAT

The above costs are at 4th Quarter 2011 levels exclusive of
contingencies unless stated otherwise.
# Rates are nett of VAT
* Generally without A/C
** Excludes special power supply
78 79
SINGAPORE# JAKARTA# MANILA HONG-KONG BEIJING

DESCRIPTION RP'000/m2 PESOS/m2 HK$/m2 RMB/m2
S$/m2
MECHANICAL SERVICES
Ofces 153-228 625-735 3000-4300 1,600-2,350 750-990
Industrial* 29-136 195-455 650-1300 380-500 160-270
Hotels 150-289 625-840 3000-6000 1,750-2,150 910-1110
Shopping Centres 158-214 570-680 2500-3700 1,950-2,400 790-950
Apartment 95-192 570-730 1900-3000 650-1,300 130-370
ELECTRICAL SERVICES
Ofces 203-306 510-680 3300-6000 1,300-1,950 460-670
Industrial** 58-148 280-450 2000-3500 450-850 320-450
Hotels 202-340 510-730 4400-8400 1,500-2,150 705-898
Shopping Centres 170-275 450-570 3600-5400 1,400-1,950 481-663
Apartment 109-252 510-680 3200-4800 850-1,300 253-386
HYDRAULIC SERVICES
Ofces 31-71 120-190 900-2000 270-380 95-140
Industrial 19-39 71-130 700-1200 220-330 95-140
Hotels 97-136 510-740 1750-3800 800-1,050 360-470
Shopping Centres 49-75 120-190 650-1100 270-380 140-200
Apartment 75-159 510-730 1300-2600 550-850 165-225
FIRE SERVICES
Ofces 32-64 160-250 600-1200 430-550 180-265
Industrial 24-54 70-130 600-900 250-300 140-215
Hotels 49-78 150-250 600-1100 430-550 215-370
Apartment 19-53 160-210 600-1300 75-120 60-125

LIFTS/ESCALATORS
Ofces 62-177 270-740 1600-2900 550-900 294-577
Industrial 46-114 N/A N/A 450-600 145-400
Hotels 76-138 270-680 1500-3000 450-650 232-520
Apartment 27-123 260-540 800-1500 330-650 175-289
NOTE: # All rates are nett of VAT. Rates for Electrical Services are excluding
The above costs are at 4th Quarter 2011 levels exclusive of genset.
contingencies unless stated otherwise. Rates for Hydraulic Services are excluding STP.
# Rates are nett of VAT Rates for Mechanical Services refers to ACMV Rates only
* Generally without A/C
** Excludes special power supply
80 81
SHENZHEN/ SHANGHAI MACAU TOKYO# INDIA*

DESCRIPTION GUANG-ZHOU
RMB/m2 MOP/m2 YEN/m2 INR/m2
RMB/m2
MECHANICAL SERVICES
Ofces 650-880 761-966 N/A 21,000 3600-4700
Industrial* 135-240 173-289 N/A 11,200 1600-2800
Hotels 890-1,115 971-1265 1850-2150 14,800 4500-4850
Shopping Centres 660-890 1050-1103 1600-2150 7,100 3500-4500
Apartment 105-325 310-410 550-650 3,000 2000-2500
ELECTRICAL SERVICES
Ofces 450-650 593-651 N/A 19,600 2800-4000
Industrial** 260-400 305-431 N/A 10,400 1800-3100
Hotels 565-765 651-830 1900-2300 18,800 3200-4900
Apartment 240-380 252-368 650-850 12,200 1200-1600
HYDRAULIC SERVICES
Ofces 105-140 110-163 N/A 12,600 575-850
Industrial 75-102 89-131 N/A 5,700 375-650
Hotels 325-410 368-488 850-1050 16,600 3000-4500
Apartment 125-220 168-226 550-750 18,300 1300-1800
FIRE SERVICES
Ofces 190-295 226-320 N/A Inc. above^ 900-1200
Industrial 125-240 168-278 N/A Inc. above^ 400-550
Hotels 230-345 289-399 500-600 Inc. above^ 1000-1300
Shopping Centres 230-345 268-383 400-500 Inc. above^ 850-950
47-116 100-150 Inc. above^ 450-550
Apartment 55-105
LIFTS/ESCALATORS
Ofces 250-410 275-540 N/A 5,600 650-900
Industrial 135-390 130-380 N/A 2,500 400-550
Hotels 200-390 215-485 500-700 5,100 800-1000
Apartment 105-230 160-320 400-500 2,700 500-700
NOTE: # All costs are average

The above costs are at 4th Quarter 2011 levels exclusive of ^ Sprinkler system, re hose reel are included in Hydraulic Services.
contingencies unless stated otherwise. Smoke spill exhaust system is included in Mechanical Services.
# Rates are nett of VAT Fire alarm system, emergency PA system included in Elec Services.
* Generally without A/C * Rates are based on projects in Bangalore and are nett of VAT and
** Excludes special power supply Service Tax.
82 83
UTILITY COSTS FOR ASIAN CITIES

84 85
UTILITY COSTS FOR ASIAN CITIES

86 87
CONTRACT PROCUREMENT
FIDIC Rainbow Suite

Types of Contract
Authority Process and Submission
Flowchart of Development Business
Development Costs in Korea
3. CONTRACT PROCUREMENT
FIDIC RAINBOW SUITE FIDIC Conditions of Contract for Construction for

Building and Engineering Works designed by the Employer
International Standard Forms of Contract recommended
for use in Korea - current as of 2012
(1) Documents forming the Contract are accorded a sequence
FIDIC Forms of Conditions of Contract published by the of priority for purposes of interpretation [Clause 1.5]
Federation Internationale des Ingenieurs-Conseils, 1st Edition
1999 (2) Administration of the Contract and supervision of the
execution of the Works are carried out by the Engineer
- Conditions of Contract for Construction for Building and appointed by the Employer [Clause 3.1]
Engineering Works designed by the Employer (Red Book)
(3) Provision is made for the Contractor to design the Works to
- Conditions of Contract for Plant and Design-Build for the extent specied in the Contract [Clause 4.1]
Electrical and Mechanical Plant and for Building and
Engineering Works designed by the Contractor (Yellow Book) (4) Contractor is obliged to submit detailed time programme
within 28 days from receipt of notice of the Commencement
- Conditions of Contract for EPC/Turnkey Projects (Silver Date [Clause 8.3]
Book)
(5) Employer may take over any part of the Works upon issue
- Short Form of Contract (Green Book) of a Taking-Over Certicate by the Employer [Clause 10.2]
(6) Employer is entitled to an extension of the Defects

Notication Period (by not more than two years) if the Works
or a Section thereof cannot be used by reason of a defect or
damage [Clause 11.3]
(7) Contractor may submit to the Engineer value engineer-ing

proposals to accelerate completion, reduce cost of construction,
maintenance and operation, or improve efciency or value to
the Employer [Clause 13.2]
90 91
FIDIC RAINBOW SUITE TYPES OF CONTRACT
(8) Quantities in the Bill of Quantities are estimated quantities Contractual Arrangements
[Clause 14.1]
Contractual arrangements are concerned with the type
(9) Provision for advance payment to the Contractor upon of agreement to be entered into and the obligations,
submission of an Advance Payment Guarantee, if Employer responsibilities, rights and liabilities assumed by the parties
agrees [Clause 14.2] under a contract. It deals with the situation that exists from
the time when a contract is formed until the time when all the
(10) Amount certied in Interim Payment Certicate is paid by obligations created by it have been discharged.
the Employer within 56 days from receipt of the Contractors
Statement and supporting documents[Clause14.7] Contractual arrangements may comprise the following:
(11) Employer is entitled to terminate the Contract without

cause at any time for his convenience subject to certain Conventional Contracts
provisions [Clause 15.5]
The commonest form of contract is one based upon a standard
(12) Insuring party is the Contractor unless otherwise stated form, for example the FIDIC Conditions of Contract. The
in the Particular Conditions that the Employer wishes to effect design is prepared by a Consultant and the price of the
insurances [Clause 18.2] works determined before award, usually by competition but
occasionally by negotiation.
(13) Provision is made for disputes to be adjudicated by a
Dispute Adjudication Board [Clause 20] Small projects tend to be based upon specification and
drawings whilst large projects are usually based upon bills of
(14) Claims for additional payment and extension of time are quantities.
regulated by a claims procedure which inter alia, requires the
Engineer or Employer to respond within a given time period
[Clause 20] Design and Build Contracts
A design and build contract is a contractual arrangement where

the Employer employs a Contractor to design and build the
project.
The Contract Sum is inclusive of design work, management

and construction costs.
92 93
TYPES OF CONTRACT
Develop and Construct Contracts Management Contracts
A develop and construct contract is a contractual arrangement A management contract is one in which the Management
where the Employer engages consultants to design the project Contractor is appointed to manage the planning and
to a certain stage; the Contractor then develops and completes construction of a project and in which the construction work is
the design and constructs the building. executed by Sub-Contractors working under him, selected and
appointed as the job proceeds.
Term Contracts The Management Contractor prepares the programme, decides

on the contents of each work package to be sub-contracted,
Under term contracts, the Contractor signs a contract to carry organizes and manages the construction of all works which are
out an indenite amount of work within a certain framework undertaken by Sub-Contractors, each selected in competition.
over a time period or term. While exactly what is to be
done may be uncertain, the general character of the work will
usually be fairly easy to dene. Construction Management Contracts
Orders for work are issued progressively from time to time Construction management contracts entail an interactive
throughout the contract period. The work is measured, valued procurement concept involving combined efforts of the
and the Contractor is paid accordingly subject to the tendered Employer, Construction Manager, design consultants and
adjustment on the Schedule of Rates. multitude of work package contractors.
Under construction management contracts, the Construction

Guaranteed Maximum Price (GMP) Contracts Manager is appointed to manage the entire delivery process
from inception to completion while construction work is
A GMP, effectively a guaranteed lump sum price for a project, executed by a myriad of work package contractors engaged by
is a set of conditions that can be introduced and used in the Employer, selected and appointed as the job proceeds.
conjunction with any standard form of contract. It is not a

standard form of contract.
The guaranteed price is not subject to upward adjustment

except for client scope changes and changes as a result of
legislation or statutory requirements.
GMP benefits include greater price certainty, early start as

design and construction can overlap, contractors input and
contribution on buildability, best practice construction methods
and mutually benecial partnering-style relationship.
94 95
TYPES OF CONTRACT AUTHORITY PROCESS AND SUBMISSION
Public-Private Partnership (PPP) Development Project in Korea

(General procedure)
Public-Private Partnership (PPP) is a generic term which
describes the various structures possible whereby the public 1. Land Purchase Published Ofcial Land Price
and private sectors work together in the delivery of services - This is a publicized price of the land for the
and the provision and operation of assets. Typical forms of purpose of assessment of Property Tax and other
project structures under PPP include PFI (Private Finance taxes. Actual land price is mostly higher than this
Initiative), DBFO (Design, Building, Finance, Operate), by 20~30%.
DCMF (Design, Construct, Manage, Finance), BOB (Build, - Acquisition Tax, Registration Tax Education Tax,
Own, Operate), BOT (Build, Operate, Transfer) and BOOT Farm & Fishery Village Support Special Tax
(Build, Own, Operate, Transfer).
2. Budget and Feasibility Study
Broadly, a typical PPP model involves the procuring authority The following are the factors that need to be considered:
(or public agency) contracting with the Special Purpose - Interest Rates in Korea
Vehicle (SPV) under a long-term service purchase agreement - Special Taxes or Charges
for the design, construction, maintenance and operation of the - Development Charge (For increase of land price
facility. The SPV enters into a range of subcontracts for the after Development)
building works, and operations and maintenance of the new - Over Population Charge (For development in
asset. CBD areas)
- Traffic Congestion Charge (For buildings that
cause trafc congestion such as shopping center,
and apartment)
- Environment Improvement Charge (Buildings
that will cause pollution)
3. Government Approval and Permit

- Special Relationship with Government Authority

and District Ofce
- This is normally handled by Architect / Contractor
on behalf of Employer.
- Trafc Impact Analysis
- Design Review and Approval
- Especially for GFA Ratio, even though the
gures are within the legal requirement, the City
Government can still have the right to reduce
the ratio at its discretion based on a municipal
ordinance.
96 97
AUTHORITY PROCESS AND SUBMISSION FLOWCHART OF DEVELOPMENT BUSINESS
- Public or Neighboring Complaint. DEVELOPER CONSULTANT GOVERNMENT

- Even though, all the legal requirements have
been complied with, if complaints are filed with Designation of Proposition Proposition of
prospective land of suitable
the District Ofce, the period for Approval can be development housing sites in development
areas
prolonged until they are resolved. area residential areas
4. Design Decision of
- Main Architect: Client only needs to nominate the master plan for
development
Main Architect. All M&E and other subconsultants
are hired by the Architect. Decision of Selection of
Prior selection
- Main Architect is responsible for all Design working plan of housing site development
for development areas
Review, Approval and Occupancy Permit.
- Two Stages of Procedure for Design Approval. ARCHITECT /
(QS)
(Takes approximately 2 months period) Development GOVERNMENT
- First Stage : Architectural & Aesthetical Feasibility PERMIT
Study STUDY
Evaluation Recommendation
- Second Stage: Building Permit Evaluation of construction
company PROJECT
- For interior works most interior consultants carry Preparation of COMPANY
proposal for the
out interior construction also as design builder. project
5. Construction Work Decision of

- Korean Standard Construction Contract Form design and cost
estimation DEVELOPMENT
- Supervision Work: Supervision Work for big or Decision of COMPANY
construction
special projects should be carried out by Special company Approval of
Supervision Company. Other projects can be development
construction
supervised by Architectural Firms. plan
- Compulsory Art Features(1% of the Construction Acquisition of PM/CM
land
Cost)
Contracts
- Utility Connection Cost are billed to Client.
GOVERNMENT
PERMIT
6. Strategy for Advertisement and Sales SUBMISSION
Starting
- Nomination of Sales & Marketing Agent construction
work
- Korean Market Study / Special Real Estate
Selection of
Market tenants
Completion of
construction
work
Occupation by
residents
98 99
DEVELOPMENT COSTS IN KOREA

Gross Floor Area (GFA) : M2
Local Property Value : KRW
Building Property Value : KRW
Total Property Value : KRW
DESCRIPTION RATES REMARK

1 Stamp Duty : nominal
2 Statutory Taxs & Fees
a) Property Tax : 0.3%~7% of the Property Value/Year chargeable annually
b) Land Acquisition Tax : 2.0% of the Land Value after occupation
c) Building Acquisition Tax : 0.8% of the Building Value
d) Property Registration Tax : 3.0% of the Property Value
e) Educational Tax : 20.0% of the Registration Tax for building a new
f) Farm & Fishery Special Tax : 10.0% of the Acquisition Tax building
g) Development Prot Tax : Prot x 50%
(Prot Land Value After Development-
Land Value Before Development-Development
Cost-Normal Land Value Increase Portion)
h) Over Population Charge : (Total Area-Parking Area-3,000m)
Retail: over 15,000m applicable in certain city center areas
Ofce: over 25,000m standard construction cost/mx0.1
Standard Construction cost KRW1,336,000
i) Trafc Inducement Charge : Floor Area x KRW 700 x Tr.Ind.Factor
differs by type of buildings
j) Legal Attorney Fees (Attorneys consultation not necessary unless
court case is involved.)
3 Professional Fees
a) Design Fee : 5 -6 % of Construction Cost

b) Supervision Fee : Structural, M&E Design included
4 Marketing Fee : 5-9% of the Construction Cost
5 QS & other consultant cost : 1.5~3% of the Construction Cost
*6 Compulsory Special Art Work : 1% of the Construction Cost
7 Operating Equipment, Spare parts,
Furniture and General Ofce Equipment : By Owner
TOTAL
Every Building must have, in its pulic area, an Art
Work(Sculpture, Paintings, etc.) by Korean Artist.
The value of the work should be as much as 1% of
the Construction Cost.
100 101
OTHER INFORMATION
Exchange Rates
Prime Rates
Currency Fluctuations
Conversion Factors
IDD Codes & Time Differences
Relevant Contacts
4. OTHER INFORMATION
EXCHANGE RATES PRIME RATES
Approximate rates at 2nd Jan 2012 PRIME RATES (as of 4th Quarter 2011)
COUNTRY Per Unit KRW RATE (%) RATE (%)

COUNTRY
Australia Dollar 1,179.48 4Q 2010 4Q 2011
Australia* 4.75 4.50
China Rmb 183.24 Brunei 5.50 5.50
China** 5.60 6.90
Euro Eur 1,493.18 Egypt *** 9.75 10.25
Hong Kong 5.00 5.00
Hong Kong HKd 148.49 India 8.50 14.75
Indonesia 6.50 6.00
India Rupees 21.76 Japan### 1.60 1.60
Macau 5.25 5.25
Indonesia 100f Rp 12.72 Malaysia 6.30 6.60
New Zealand^ 10.47 10.01
Japan 100 Yen 1,494.69 Pakistan^^ 13.52 13.97
Philippines 6.540 5.740
Malaysia Ringgit 363.82 Singapore 5.38 5.38
South Africa 9.00 9.00
Philippines Peso 26.34 South Korea+ 2.38 3.25
Thailand# 6.56 7.71
Singapore Dollar 889.00 United Kingdom 0.50 0.50
United States of America 3.25 3.25
Taiwan NT Dollar 38.10 Vietnam## 9.00 9.00
Thailand Baht 36.54 Note: Depending on the circumstances, prime rates may vary from time
to time
United Kingdom Pound 1,788.48 Australia* O/N Cash Rate

China** 3-year Benchmark Lending Rate
Egypt *** Overnight Lending Rate
USA Dollar 1,153.30 New =ealand^ Business Base Lending Rate
Pakistan^^ Weighted Average Lending Rate
South Korea+ Base Rate of The Bank of Korea
Vietnam 100 Dong 5.48
Thailand # Minimum Loan Rate % per annum (avg based on local
bank)
Source: Korean Exchange Bank (www.keb.co.kr) Vietnam## Min and in VND per year
Japan### Long-term prime rate % per annum (from Dec/10/2010)
104 105
CURRENCY FLUCTUATIONS
US Dollar Sterling Pound

KRW per 1 US$ KRW per 1 STG
1200.00 1850.00
1150.00
1800.00
1750.00
1100.00 1700.00
1050.00 1650.00
N
A
O
F
D
J
J
J
M
Oct
Aug
Dec
Nov
Jan
May
Feb
Sep
Apr
July
Jun
Mar
Hong Kong Dollar Japanese Yen
KRW per 1 HK$ KRW per 1 J
150.00
1550.00
145.00
140.00 1450.00
135.00 1350.00
130.00
Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec 1250.00
Feb
Sep
Oct
Apr
July
Jun
Aug
Mar
Dec
Nov
Jan
May
106 107
CONVERSION FACTORS
TO METRIC TO IMPERIAL
UNIT
(Approx) (Approx)
LENGTH
10 mm 1 cm 12 in 1 ft 1 in 25.400 mm 1 cm 0.394 in
100 cm 1m 3 ft 1 yd 1 ft 30.480 cm 1m 3.281 ft
1,000 m 1 km 1,760 yd 1 mile 1 yd 0.914 m 1m 1.094 yd
1 mile 1.609 km 1 km 0.621 mile
AREA
10,000 m2 1 ha 9 ft2 1 yd2 1 ft2 0.093 m2 1 m2 10.764 ft2
100 ha 1 km2 4,840 yd2 1 acre 1 yd2 0.836 m2 1 m2 1.196 yd2
638 acre 1 mile2 1 acre 0.405 ha 1 ha 2.471 acres
1 mile2 2.590 km2 1 km2 0.386 mile2
VOLUME
1,000 ml 1 ltr (UK) 8 pt 1 gal (UK) 1 pt 0.568 ltr (UK) 1 ltr 1.760 pt
(US) 8 pt 1 gal (US) 1 pt 0.473 ltr (US) 1 ltr 2.113 pt
(UK) 1 gal 4.546 ltr (UK) 1 ltr 0.220 gal
(US) 1 gal 3.785 ltr (US) 1 ltr 0.264 gal
MASS
1,000 g 1 kg 16 oz 1 lb 1 oz 28.350 g 1 gram 0.035 oz

1,000 kg 1 tonne 2,240 lb 1 ton 1 lb 0.454 kg 1 kg 2.205 lb
16 tael 1 catty 1 ton 1.016 tonne 1 tonne 0.984 ton
1 catty 0.605 kg
POWER 1 hp 0.746 kw 1 kw 1.340 hp

TEMPERATURE C (F-32)x5/9 F (Cx9/5)+32
108 109
IDD CODES & TIME DIFFERENCES RELEVANT CONTACTS
IDD Time
DESTINATION Country Difference PUBLIC ORGANISATIONS
Code (hours)*
Korea (South) 82 0 Korean Institute of Construction Technology
2311 Daehwa-Dong
Macau 853 -1 Ilsan-Gu, Goyang-City
Gyeonggi-Do 411-712
Malaysia 60 -1 Tel: (82) 31 910 0113
Fax: (82) 31 910 0111
Myanmar 95 -2.5
E-mail: Webmaster@kict.re.kr
Website: www.kict.re.kr/eng./
Philippines 63 -1
Qatar 974 -6 Korean Land Corporation

217 Jungja-Dong
Singapore 65 -1 Bundang-Gu, Sungnam-Si
Gyeonggi-Do 463-755
Spain 34 -8 Tel: (82) 31 738 7114/8114
Website: www.lplus.or.kr
Taiwan 886 -1
Korean National Housing Corporation
Thailand 66 -2 175 Gumi-Dong
Bundang-Gu, Seongnam-Si
United Arab Emirates 971 -4 -5 Gyeonggi-Do 463-500
Tel: (82) 2 3414 3222-9
United Kingdom 44 -9 Website: www.jugong.co.kr
United States of America :
- Los Angeles 1 -16
- New York 1 -13
Vietnam 84 -2
Allowance should be made for seasonal time variances
110 111
RELEVANT CONTACTS
Korean Standards Association TRADE & PROFESSIONAL ORGANISATIONS

Korea Technology Centre
701-7 Yeoksam-Dong, Gangnam-Gu Construction Association of Korea
Seoul 135-513 7-8F The Hall of Construction B/D
Tel: (82) 2 6009 4630-2 71-2 Nonhyon-Dong, Gangnam-Gu
Fax: (82) 2 6009-4639 Seoul 135-701
E-mail: ksaicd@ksa.or.kr Tel: (82) 2 3485 8200
Website: www.ksa.or.kr/eng/ E-mail: webmaster@cak.or.kr
Website: www.cak.or.kr
Ministry of Construction and Transportation
1 Jungang-Dong Korean Construction Engineers Association
Gwacheoun City 238-5 Nonhyon-Dong, Gangnam-Gu
Gyeonggi-Do Seoul 135-830
Tel: DAY (82) 2 504 9114 Tel: (82) 2 3416 9511
NIGHT (82) 2 503 7400 Fax: (82) 2 3416 9090
Fax: (82) 2 2150 1000 Website: www.kocea.or.kr
Website: www.moct.go.kr/EngHome
Korea Engineering & Consulting Association
Ministry of Strategy and Finance 1049-1 Sadang-Dong, Dongjak-Gu
Government Complex II, 88 Gwanmoonro Seoul 156-090
Gwacheon City Tel: (82) 2 3019 3200
Gyeonggi Province 427-725 Fax: (82) 2 3019 3300
Tel: (82) 2 2150 2451 E-mail: engineering@kenca.or.kr
Fax: (82) 2 504 1335 Website: www.kenca.org/index_eng.jsp
E-mail: fppr@mosf.go.kr
Website: English.mosf.go.kr Korea Housing Builders Association

4F Korea Housing Center 45-11
Korean National Statistics Ofce Yeouido-Dong, Yeoungdeungpo-Gu
139 Seonsa-Ro, Seo-Gu Seoul 150-010
Daejeon 302-701 Tel: (82) 2 785 0990
Tel: (82) 42 481 4114 Fax: (82) 2 785 3915
Website: www.nso.go.kr/eng2006/emain/index.html Website: www.khba.or.kr/en/index-en.htm
112 113
RELEVANT CONTACTS
Korean Institute of Registered Architects Korean Professional Engineer Association

1603-55 Seocho-1Dong 635-4 Yeaksam-Dong
Seocho-Gu Gangnam-Gu
Seoul 137-877 Seoul 135-703
Tel: (82) 2 581 5711~4 Tel: (82) 2 538 3159
Fax: (82) 2 525 8379 Fax: (82) 2 557 7048
Website: www.kira.or.kr/eng/main.asp E-mail: kpea@kpea.or.kr
Website: www.kpea.or.kr/english/
Korea Research Institute for Human Settlements
1591-6 Gwangyang-Dong
Dongan-Gu, Anyang-Si OTHERS
Gyeonggi-Do 431-712
Tel: (82) 31 380 0114
Fax: (82) 31 380 0470 Korea Development Bank
Website: www.kira.or.kr/eng/main.asp 16-3, Yeouido-Dong
Yeongdeungpo-Gu
Architectural Institute of Korea Seoul 150-973
1044-34 Sadang-Dong Tel: (82) 2 787 6450 / 6479
Dongjak-Gu, Seoul 156-827 Fax: (82) 2 787 6496-8
Tel: (82) 2 525 1841-4 Website: www.kdb.co.kr
Fax: (82)2 525 1845
Website: www.aik.or.kr/english/index.htm Korea Housing Association
4F Kunsul Bldg
The International Contractors Association of Korea 71-2 Nonhyon-Dong
13F Booyoung Bldg Gangnam-Gu
120-23 Seosomun-Dong Seoul

Joong-Gu, Seoul 100-764 Tel: (82) 2 514 3167
Tel: (82) 2 3406 1044 Fax: (82) 2 511 6974
Fax: (82) 2 3406 1123 Website: www.housing.or.kr/eng/index.asp
Website: www.icak.or.kr/eng
114 115
DAVIS LANGDON & SEAH
DLS Culture
Professional Services
Davis Langdon & Seah International Ofces
Acknowledgements
DLS CULTURE DLS CSR COMMITMENT/VISION
In the bid to conserve our diminishing global energy reserves

and reduce carbon emissions, DLS is committed to the
through our expertise & experience.
To manage & control each & every

process with the highest integrity,
To play a positive & creative role
To further develop & bring about

continual research into the impact of the consruction industry
Quality Policy Statement
in realizing our Clients needs

To provide our Clients with a
impartiality & independency.

on our environment.
professional development
in core skills of our staff.
service of excellence
opportunities for
With this commitment, DLS aims to contribute to a more
environmentally friendly approach to buildings and will
continually promote the mindset of more sustainable
development to our clients.
DLS supports the Corporate Social Responsibility ethos.
EHS COMMITMENT
The management and staff of DLS are committed to the

development of a healthy and safe workplace environment
and those who work with us.
Communities & Countries

Our second duty is to our
which promotes the development of the personal and

Our fourth duty is to our
Our third duty is to the
in which we live & are

Our rst duty is to our
privileged to work.
professional well-being of all staff while encompassing

Core Values
Management
initiatives which promote the conservation of resources, such

Company.
Clients.
as-
Paper
Electricity
Water
The management of DLS is committed to provide staff with

the best possible platform to achieve the objectives above
which, through teamwork,

cost management, project
and is determined in our pursuit of the best possible level of

difference to our Clients,
world class construction
for money & security of

Mission Statement
consultancy services
make a measurable
practice in Environmental, Health & Safety.

maximizing value
management &
To deliver
objective.
118 119
SUSTAINABILITY OF DLS DLS TRAINING STATEMENT
As a company, DLS believes that the protection of the We are continuing to improve on our core skill as Cost
environment is a responsibility that everyone carries on his or Consultants while at the same time developing specialisms
her shoulders. We believe that a healthy environment is the such as Value Management, Value Engineering, Risk Analysis,
main catalyst in determining the well-being of our society and Life Cycle Costing and Project Management.
our people and business, and is the foundation for a sustainable
and strong economy. The Practice hopes to create an environment to harness this
initiative by continuing to conduct and promote in-house
Our rm has set out to champion and encourage various efforts lectures/wokshops.
to ensure that this corporate responsibility is reected in all our
endeavors. With this vision, our Practice has set up a dedicated We select only capable, qualied and enthusiastic individuals
Sustainable Consultancy Unit to study into the various issues to be part of our Quantity Surveying Practice. To further groom
to aid our clients in developing the necessary guidelines to our staff and maximize our staff potential, we provide training
minimise the environmental impact of their projects. to staff internally on the latest developments/innovations in
the construction industry, legal issues and also to develop
HUMAN CAPITAL STRATEGY staff interpersonal skills. We also conduct quarterly seminars
externally for the industry at large, so as to create awareness
We recognise that human capital is our vital asset and inculcate on the latest industry developments. Specialized trainings are
that our people are our investments leading to our excellence also conducted by external trainers.
through delivering good services and in turn Deviler Success
for DLS.
We select only capable, qualied and enthusiastic individuals

to be part of our Quantity Surveying Practice. To further
groom our staff and maximize staff potential, numerous
coaching, mentoring and various training programmes have
been implemented.
120 121
PROFESSIONAL SERVICES Contract Advisory & Dispute Management Services

Investment Appraisals
Davis Langdon & Seah Korea Co., Ltd. offers an unparalleled Value Management
range of compatible and integrated cost and management Buildability Appraisals
services which alongside their particular elds of specialisms Due Diligence Reports
are designed to provide a seamless service to the construction Projects Cost and Contract Audits
industry and property market. Fire Insurance Valuations
(or Reinstatement Cost Assessments)
At the very essence in the success of any project is the Advice on Development Brief
selection of an appropriate procurement strategy in terms of
the Clients requirements, project characteristics, time and The types of construction projects undertaken cover both new
cost certainty, quality targets and distribution of risk. Davis buildings and refurbishment work on residential, commercial,
Langdon & Seah is well place and has the relevant experience institutional, industrial and infrastructure type developments,
to advise on various procurement operations from the such as:
traditional and straightforward to bespoke hybrid methods in
response to the Clients priorities. These include: Arts and Cultural Buildings
Business Park Developments
Measurement contracts Civic Buildings
Lump sum contracts Civil Engineering and Infrastructure Works
Cost reimbursement contracts Educational Buildings
Design and build contracts Health and Hospital Buildings
Develop and construct contracts Hotels
Package deal contracts Internet Data Centres
Turnkey contracts Industrial/Warehouse Developments
Construction management contracts Leisure Projects
Management Contracts Ofce Building and Interior Fit-out Works
Term Contracts Public Buildings
Guaranteed maximum price contracts Residential Developments
Retail Developments
Davis Langdon & Seah Korea Co., Ltd. provides a total Sports Centres
integrated cost and management service in the following areas Water and Waste Projects
to meet and add value to each individual Clients specific
needs:
Quantity Surveying
Mechanical and Electrical Engineering Quantity Surveying
Civil Engineering Quantity Surveying
Project Management
Services of Employers Agent (for Design-Build projects)
122 123

INTERNATIONAL OFFICES
ASIA PACIFIC CHINA
KOREA BEIJING
DAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION
SEOUL CONSULTANTS CO., LTD.
DAVIS LANGDON & SEAH KOREA CO., LTD. Suite 1225 - 1238, Juneeld Plaza, Central Tower South,
#429 G-Five, Central Plaza No.10 Xuan Wu Men Wai Street
1685-8 Seocho 4-Dong, Beijing 100 052, China
Seocho-Gu, Seoul Tel : (00 86 10) 6310 1136
Korea 137-882 Fax : (00 86 10) 6310 1143
Tel : (00 82 2) 543 3888 Email : dlsbj@dlsbj.com
Fax : (00 82 2) 543 3898 Contact : Chan Chi Keung, Andrew
Email : dlsk@dlskorea.com, DLSKorea@dls.com.sg
Contact : Goh Chok Sin / Victor Stanger CHENGDU
DAVIS LANGDON & SEAH CONSULTANCY (CHENGDU)
BRUNEI CO., LTD.
Room 807, Block A, Times Plaza
BANDAR SERI BEGAWAN No.2 Zongfu Road
DAVIS LANGDON & SEAH Chengdu, Sichuan Province 610 016, China
JURUUKUR BAHAN UTAMA-DLS Tel : (00 86 411) 8800 8018
Unit 25, BT Complex, Kg. Jaya Setia Fax : (00 86 411) 8800 8823
Mukim Berakas A BB2713 Email : dlscd@dlscd.com
Bandar Seri Begawan BS8670 Contact : Chan Hoi Or, Joe
Negara Brunei Darussalam
Tel : (00 673) 233 2833 CHONGQING
Fax : (00 673) 233 2933 DAVIS LANGDON & SEAH CHINA LIMITED
Email : dlsbsb@dls.com.bn CHONGQING REPRESENTATIVE OFFICE

Contact : Shae Yusof / Justin Teoh Room 3408, International Trade Centre
No.38 Qing Nian Road, Central District
KUALA BELAIT Chongqing 400010, China
PETROKON UTAMA SDN BHD Tel : (00 86 23) 8655 1333
3rd Floor, Hong Kong Bank Chambers,Jalan McKerron Fax : (00 86 23) 8655 1616
P.O.Box 811, Kuala Belait KA 1131 Email : dlscq@dlscq.com
Negara Brunei Darussalam Contact : Chan Hoi Or, Joe
GPS : 4.58416, 114.1916
Tel : (00 673) 3335 718
Fax : (00 673) 3335 717
Email : pusbkb@pusbbrunei.com.bn
Contact : Shae Yusof
124 125

DALIAN HANGZHOU
DAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION DAVIS LANGDON & SEAH CONSULTANCY
CONSULTANTS CO., LTD. (SHANGHAI) CO.LTD. HANGZHOU BRANCH
DALIAN BRANCH Room 2305 WinNing International, 100 Min Xin Road,
Unit 07, 32F, Xiwang Tower Hangzhou, Zhejiang Province 310016, China
136 Zhongshan Road, Zhongshan District GPS : 30.2510, 120.2171
Dalian, Liaoning Province Tel : (00 86 571) 2829 7766
116001, China Fax : (00 86 571) 2829 7622
GPS : 38.9148, 121.6309 Email : dlshz@dlshz.com
Tel : (00 86 411) 8800 8018 Contact : Lai Pak Hung
Fax : (00 86 411) 8800 8823
Email : dlsdalian@dlsdalian.com HONG KONG
Contact : Ng Kin Kan, Kenn DAVIS LANGDON & SEAH HONG KONG LTD.
DAVIS LANGDON & SEAH CHINA LTD.
FOSHAN DLS MANAGEMENT LTD.
DAVIS LANGDON & SEAH CONSULTANCY 38/F Two Landmark East, 100 How Ming Street
(SHENZHEN) CO., LTD. Kwun Tong, Kowloon, Hong Kong
FOSHAN BRANCH Tel : (00 852) 2830 3500
Unit 1803 Room 2, 18/F Hua Hui Mansion Fax : (00 852) 2576 0416
46 Zu Miao Road Email : dlshk@dlshk.com
Foshan, Guangdong Province 528 000, China Website : www.dlsqs.com
Tel : (00 86 757) 8203 0028 Contact : Lee Ying Kee, Joseph
Fax : (00 86 757) 8203 0029
Email : dlsgz@dlsgz.com MACAU
Contact : Wong Wing Cheung, Jack DAVIS LANGDON & SEAH MACAU LIMITED
14 Andar B
GUANGZHOU Edifacio Commercial Rodrigues

DAVIS LANGDON & SEAH CONSULTANCY 599 Avenida da Praia Grande
(SHENZHEN) CO., LTD. Macau
GUANGZHOU BRANCH Tel : (00 853) 2833 1710
Unit 2711 - 2713 & 2718, Bank of America Plaza Fax : (00 853) 2833 1532
No.555 Ren Min Zhong Road Email : dlsma@dlsma.com
Guangzhou Guangdong Province 510 145, China Contact : Chan Yuk Sim, Katherine
Tel : (00 86 20) 8130 3813
Fax : (00 86 20) 8130 3812
Email : dlsgz@dlsgz.com
Contact : Wong Wing Cheung, Jack
126 127

SANYA SHENZHEN
DAVIS LANGDON & SEAH CONSULTANCY DAVIS LANGDON & SEAH CONSULTANCY
(SHENZHEN) CO. LTD. SANYA BRANCH (SHENZHEN) CO LTD
1206 Skyline Tower119 Yingbin Road Room E & F, 42/F,
Sanya, Hainan Province572000 China World Finance Centre, Block A
GPS : 18.4214, 109.8531 4003 East Shennan Road
Tel : (00 86 898) 3828 0878 Shenzhen, Guangdong Province 518 001, China
Fax : (00 86 898) 3828 0678 Tel : (00 86 755) 8269 0642
Email : dlssz@dlssz.com Fax : (00 86 755) 8269 0641
Contact : Lee Kwok Wing, Dickey Email : dlssz@dlssz.com
Contact : Lee Kwok Chu, Kenneth
SHANGHAI
DAVIS LANGDON & SEAH CONSULTANCY SUZHOU
(SHANGHAI) CO. LTD. DAVIS LANGDON & SEAH CONSULTANCY
Room 1582, Tower B, City Centre of Shanghai (SHANGHAI) CO LTD SUZHOU BRANCH
100 Zun Yi Road, Shanghai 200 051, China Room 1606 Century Financial Tower
Tel : (00 86 21) 6091 2800 1 Suhua Road, Industrial Park
Fax : (00 86 21) 6091 2999 Suzhou, Jiangsu Province
Email : dlssh@dlssh.com 215021 China
Contact : Lai Pak Hung GPS : 331.3157, 120.6751
Tel : (00 86 512) 8777 5599
SHENYANG Fax : (00 86 512) 8777 5600
DAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION, Email : dlssu@dlssu.com
CONSULTANTS CO. LTD. SHENYANG BRANCH Contact : Lai Pak Hung / Zhang Rui
Room 8-9, 11/F, E Tower of Fortune Plaza
59 Beizhan Road, Shenhe District TIANJIN
Shenyang City, Liaoning Province,110 013, China DAVIS LANGDON & SEAH CONSULTANCY CO LTD
Tel : (00 86 24) 3128 6678 TIANJIN BRANCH
Fax : (00 86 24) 3128 6983 4002, 40/F, Tianjin World Financial Centre Ofce Tower
Email : dlssy@dlssy.com No.2 Dagubei Road,
Contact : Kwok Hiu Larm, Frank / Chow Hau Ming, Simon He Ping District, Tianjin 300 020, China
GPS : N/A
Tel : (00 86 22) 2329 9611
Fax : (00 86 22) 2319 3186
Email : dlstj@dlstj.com
Contact : Wong Chin Ying
128 129

WUHAN DELHI
DAVIS LANGDON & SEAH CONSULTANCY DAVIS LANGDON & SEAH CONSULTING INDIA PVT.
(SHANGHAI) CO. LTD. WUHAN BRANCH LTD
Room B, 5th Floor, 2-1 Building, Wuhan Tiandi The Elements
68 Lu Gou Qiao Road 2nd FLoor, Unit No.465
Wuhan City, Hubei Province 430 010, China Udyog Vihar, Phase-V
Tel : (00 86 27) 5920 9299 Gurgaon, Haryana 122 016 India
Fax : (00 86 27) 5920 9298 Tel : (00 91 124) 430 8790
Email : dlswh@dlswh.com Fax : (00 91 124) 430 8793
Contact : Lee Kwok Wing, Dickey Email : dlsindia@dls.co.in
Contact : Jim Pollock / Lorimer Doig / Arun Basu
INDIA
HYDERABAD
BANGALORE DAVIS LANGDON & SEAH CONSULTING INDIA PVT
DAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD
LTD. 2nd Floor, Trade Fair Ofce
3rd Floor, Raheja Chancery Hitex Exhibition Center
No.133 Brigade Road Izzat Nagar
Bangalore 560 025, India Hyderabad 500 084, India
Tel : (00 91 80) 4123 9141 Tel : (00 91 40) 2311 4942
Fax : (00 91 80) 4123 8922 Fax : (00 91 40) 2311 2942
Email : dlsindia@dls.co.in Email : dlsindia@dls.co.in
Contact : Jim Pollock / Lorimer Doig / Velan Murali / Biju Contact : Jim Pollock / Lorimer Doig / Ramamurthi
AK Karthikeyan
CHENNAI PUNE
DAVIS LANGDON & SEAH CONSULTING INDIA PVT. DAVIS LANGDON & SEAH CONSULTING INDIA PVT
LTD. LTD
New No.125 (Old No.63) Ofce No. 02/, Arvind Apartment
Jammi Building, 1st Floor First Floor, CTS 1130/1, Survey No.93
Royapettah High Road, Mylapore Fergusson College Road
Chennai 600 004, India Near Dyaneshwat Paduka Chowk
Tel : (00 91 44) 2498 8141 Shviagnagar, Pune -411 005, India
Fax : (00 91 44) 2498 8137 GPS : N/A
Email : dlsindia@dls.co.in Tel : (00 91 20) 2551 4980
Contact : Jim Pollock / Lorimer Doig / Sankar Fax : N/A
Ramakrishnan Email : N/A
Contact : Jim Pollock / Lorimer Doig / Darshan Joshi
130 131

MUMBAI MALAYSIA
DAVIS LANGDON & SEAH CONSULTING INDIA PVT
LTD SELANGOR
1204/5/6, Maithilis Signet DAVIS LANGDON & SEAH (MALAYSIA) SDN BHD
Plot No. 39/4, Sector No.30A DLSM PROJEKS SDN BHD
Vashi JURU UKUR BAHAN MALAYSIA
Navi Mumbai 400 703, India JUBM SDN BHD
Tel : (00 91 22) 4156 8686 DLS MANAGEMENT (M) SDN BHD
Fax : (00 91 22) 4156 8615 2, Jalan PJU 5/15, Kota Damansara
Email : dlsindia@dls.co.in 47810 Petaling Jaya
Contact : Jim Pollock / Lorimer Doig / Darshan Selangor Darul Ehsan, Malaysia
Joshi Tel : (60 3) 6156 9000
Fax : (60 3) 6157 8660
INDONESIA Email : info@dlsjubm.com.my
Contact : Loo Ming Chee / Mohd Ali Abd Karim / Justin
BALI Teoh / Mohd Faiz Awang / Nur Aziz Abu Bakar
P.T. DAVIS LANGDON & SEAH INDONESIA
Jalan Sunset Road No 8C JOHOR
Lingkungan Abian Base DAVIS LANGDON & SEAH (MALAYSIA) SDN BHD
Bali 80361, Indonesia JURU UKUR BAHAN MALAYSIA
GPS : N/A JUBM SDN BHD
Tel : (00 62 361) 894 7517 DLSM PROJEKS SDN BHD
Fax : (00 62 361) 894 7392 DLS MANAGEMENT (M) SDN BHD
Email : dlsbali@dls.co.id 47, Jalan Setia Tropika 1/30
Contact : Ir. Putu Arya Canti Taman Setia Tropika
81200 Johor Bahru
JAKARTA Johor Darul Takzim, Malaysia

P.T. DAVIS LANGDON & SEAH INDONESIA Tel : (60 7) 232 8300
Level 18, Ratu Plaza Ofce Tower Fax : (60 7) 232 8232
Jalan Jenderal Sudirman 9 Email : jubmjb@dlsjubm.com.my
Jakarta 10270, Indonesia Contact : Syed Mahadzir Syed Ahmad
Tel : (00 62 21) 739 7550
Fax : (00 62 21) 739 7846
Email : dlsjkt@dls.co.id
Contact : Peter Robinson / Stephen Osborne
132 133

PENANG PAKISTAN
DAVIS LANGDON & SEAH (MALAYSIA) SDN BHD
JURU UKUR BAHAN MALAYSIA KARACHI
JUBM SDN BHD DAVIS LANGDON & SEAH PAKISTAN (PRIVATE)
DLSM PROJEKS SDN BHD LIMITED
DLS MANAGEMENT (M) SDN BHD 18C, Nishat Commercial Lane 4
Suite 3A-3, Level 3A Khayaban-e-Bukhari, Phase 6, DHA
Wisma Great Eastern Karachi
No.25, Lebuh Light 75500 Pakistan
10200 Penang, Malaysia Tel : (00 9221) 3524 0191-94
Tel : (60 4) 264 2071 / 264 2072 / 264 2073 Fax : (00 9221) 3524 0195
Fax : (60 4) 264 2068 Email : info@dls.com.pk
Email : penangofce@dlsjubm.com.my Contact : Nur Aziz Abu Bakar / Shoaib Iqbal
Contact : Mohd Faiz Awang
PHILIPPINES
SABAH
DAVIS LANGDON & SEAH (MALAYSIA) SDN BHD MANILA
JURU UKUR BAHAN MALAYSIA DAVIS LANGDON & SEAH PHILIPPINES INC
JUBM SDN BHD 4th & 7th Floor, Kings Court 1
DLSM PROJEKS SDN BHD 2129 Pasong Tamo, Makati City
DLS MANAGEMENT (M) SDN BHD 1231 Philippines
Suite 8A, 8th Floor, Wisma Pendidikan, Jalan Padang Tel : (00 63 2) 811 2971
P.O.Box 11598, 88817 Kota Kinabalu Fax : (00 63 2) 811 2071
Sabah, Malaysia Email : manila@dls.com.ph
Tel : (60 88) 223 369 Contact : Alan Philip Hearn
Fax : (60 88) 216 537
Email : jubmkk@dlsjubm.com.my SINGAPORE

Contact : Ang Kun Eng
DAVIS LANGDON & SEAH SINGAPORE PTE. LTD.
SARAWAK DAVIS LANGDON & SEAH PROJECT MANAGEMENT
JUBM SDN BHD PTE. LTD.
No.2 (3rd Floor), Jalan Song Thian Cheok DLS CONTRACT ADVISORY & DISPUTE
93100 Kuching MANAGEMENT SERVICES
Sarawak, Malaysia 1 Magazine Road, #05-01 Central Mall
Tel : (60 82) 232 212 Singapore 059567
Fax : (60 82) 232 198 Tel : (65) 6222 3888
Email : kuching@dlsjubm.com.my Fax : (65) 6224 7089
Contact : Nor Azman Bin Baharum Email : dlssp3@dls.com.sg
Contact : Jim Pollock / Goh Chok Sin / Eugene Seah
134 135

THAILAND HO CHI MINH CITY

DAVIS LANGDON & SEAH VIETNAM CO LTD
BANGKOK 9th Level, Unit E-VTP Building
DAVIS LANGDON & SEAH (THAILAND) LTD 08 Nguyen Hue, District 1
LECE (THAILAND) CO., LTD. Ho Chi Minh City, Vietnam
10th Floor, Kian Gwan Building II Tel : (00 848) 3823 8297
140/1 Wireless Road, Lumpini, Pratumwan Fax : (00 848) 3823 8197
Bangkok 10330, Thailand Email : dlsvietnam@dls.com.sg
GPS : 13.734969, 100.545448 Contact : Mark Olive
Tel : (00 66 2) 253 1438 , 651 4120-2
Fax : (00 66 2) 253 4977
Email : general@dls.co.th
Contact : Leong Choong Peng / Ang Yen Kooi / Wong Soon
Bin
VIETNAM
HANOI
DAVIS LANGDON & SEAH VIETNAM CO., LTD.
4th Level Thanh Dong Building
132-138 Kim Ma Street, Ba Dinh District
Hanoi, Vietnam
Tel : (00 844) 3942 7525
Fax : (00 844) 3942 7526
Email : dlsvietnam@dls.com.sg
Contact : Mark Olive
136 137
DAVIS LANGDON & SEAH NOTES

ACKNOWLEDGEMENTS
Davis Langdon & Seah Korean Co., Ltd. would like to

acknowledge the invaluable support and advice from the
following organizations:
Bank of Korea
Ministry of Knowledge Economy
Korean Statistical Information Service
138 139
NOTES NOTES
140 141
NOTES NOTES
142 143

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Construction Cost Handbook Korea 2012n PDF

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Second Edition 2012

Davis Langdon & Seah Korea Co., Ltd.

The information contained herein should be regarded as

8nless otherwise stated, costs reected in this handbook

Business Registration No: 211-86-99072

2. CONSTRUCTION COST DATA

M&E Costs For Seoul 76

(From Left to Right)

Davis Langdon & Seah International has been involved in

Spons Asia Pacic Construction Costs Handbook

As in the previous editions, the DLS Handbook - Korea 2012

The handbook is structured to serve as a general reference

The information contained in this handbook has been compiled

by Davis Langdon & Seah Korea Co., Ltd. Any further

Davis Langdon & Seah Korea Co., Ltd.

Construction Market Outlook

CONSTRUCTION MARKET OUTLOOK REAL ESTATE MARKET OUTLOOK

construction and employment sectors within the first half of

CONSUMER PRICE INDEX TOP TWENTY CONSTRUCTION FIRMS

CONSTRUCTION ORDERS RECEIVED

2010 89,814,311 190.1 -8.5% 92,276,013 173.0 1.6%

Unit Rates Of Major Work Items

e. The types of temporary works required (i.e. diaphragm

f. The method of construction e.g. conventional or top down

CONSTRUCTION COSTS FOR SEOUL

Basement carparks (<3 levels) 1,080,000 1,050,000

The above costs are based on 4th Quarter gures.

CONSTRUCTION COSTS FOR MAJOR

Detached Houses Light Duty Flatted Factories

Prestige Ofces, High Rise Basement Car Parks

CONSTRUCTION COSTS FOR MAJOR

Basement car parks (<3 levels) 960 920 464 505

Exchange Rate Used: US$1 = KRW1,128 KRW1,145 RM3.12 RM3.15

NOTE: *Rates are nett of VAT and exclusive of contingencies

CONSTRUCTION COSTS FOR MAJOR

NOTE: *Rates are nett of VAT & contingencies

CONSTRUCTION COSTS FOR MAJOR

Basement carparks (<3 levels) N/A N/A 285 390

Exchange Rate Used: US$1 = B$1.3892 B$1.26 IDR9,000 8,910,000

NOTE: *Rates are nett of VAT

CONSTRUCTION COSTS FOR MAJOR

Basement carparks (<3 levels) 450 480 1,185 1,310

Exchange Rate Used: US$1 = PHP44 PHP43 S$1.30 S$1.25

NOTE: *Rates are exclusive of contingencies & include 12% VAT

CONSTRUCTION COSTS FOR MAJOR

Basement carparks (<3 levels) 1,700 1,900 680 780

Exchange Rate Used: US$1 = HK 7.80 HK 7.80 RMB6.63 RMB6.35

NOTE: *Rates are exclusive of contingencies

CONSTRUCTION COSTS FOR MAJOR

Basement carparks (<3 levels) 750 830 692 759

Exchange Rate Used: US$1 = RMB6.63 RMB6.35 RMB6.63 RMB6.35

NOTE: *Rates are exclusive of contingencies

CONSTRUCTION COSTS FOR MAJOR

Basement carparks (<3 levels) 942 1,230 250 254

Exchange Rate Used: US$1 = MOP7.99 MOP7.97 INR45 INR50

NOTE: *Rates are exclusive of contingencies and any management contract

CONSTRUCTION COSTS FOR MAJOR

Basement carparks (<3 levels) N/A N/A 590-675 640-730

NOTE: *Rates are nett of VAT and contingencies

COST BREAKDOWN FOR DIFFERENT

UNIT RATES OF MAJOR WORK ITEMS FOR

SEOUL* KUALA LUMPUR

1. Excavating basement not exceeding 2m deep m3 2,050 2,100 15 - 20 15 - 20