Kuala Lumpur, 25 March 2021 – The Malaysian Construction Industry Development Board (CIDB) has launched the National Construction Cost Centre 2.0 (N3C 2.0) to provide comprehensive, quality and up-to-date construction cost data to industry players.
N3C 2.0 is a rebranded and upgraded version of the industry information system, MyN3C, which was launched in 2016. This information system portal was developed by CIDB in collaboration with the Royal Malaysian Surveyors Organization (RISM). It is a one-stop centre to enable cost information and construction data to be obtained online easily.
Through this portal, industry players as well as the general public can access information on reliable and transparent construction costs. This will help build a culture of transparency, efficiency and competitiveness among the construction industry players.
Senor Minister of Works, YB Dato’ Sri Haji Fadillah bin Haji Yusof, said, “Data and information based on reliable sources are very important in making the right decisions, especially in cost planning. The establishment of a one-stop centre such as N3C 2.0 is an important reference for industry players and the public to obtain information on construction costs. Through knowledge-based and evidence-based decisions, we can ensure that the construction industry will be more dynamic, productive and efficient.”
The N3C 2.0 portal comes with a variety of upgraded features, including:
- More interactive visuals;
- More user-friendly interface;
- Providing data from 2012 to date;
- Providing an online construction product promotion platform; and
- Providing an online payment method.
Users can also obtain construction product information, such as:
- Building materials’ prices;
- Construction workers’ wage scheme;
- Construction machinery’s rental rates and selling prices;
- Building materials cost index, construction worker cost index, machinery and equipment cost index and building cost index.
CIDB is also currently planning to publish the tender price index for building works as one of the references provided in N3C 2.0; and develop Construction Cost Benchmark and Whole Life Cost in the near future.
CEO of CIDB, Dato’ Ir Ahmad ‘Asri Abdul Hamid, said, “This upgraded portal will be an important reference centre for the industry. CIDB aims to facilitate access to comprehensive construction information and ensure periodically released data. This will strengthen policy development and enable accurate decision-making, better resource planning, as well as long-term operational sustainability.”
– Construction+ Online