Dubai, Mar 17: With projects in the infrastructure and property sector, worth billions of dollars underway in the Gulf countries, higher cost of construction and shortage of workers has raised an alarm in the region.

The Bahrain cabinet on Sunday expressed concern over skyrocketing prices of building materials and acute shortage of skilled workers - technicians and engineers, which may in delay the projects in the long run.

Ways of tackling the crisis were discussed at a meeting chaired by Prime Minister Shaikh Khalifa bin Salman Al Khalifa.

Forming a possible holding company to import construction materials and building a 'harbour' to process them was considered as one of the possible solution to the problem.

In the UAE, Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued a ministerial resolution, exempting cement and reinforced steel from customs duties until further notice all over the country.

As per this move, contractors and property owners will be allowed to import these two items without any restriction in order to allow them overcome the soaring prices in this respect.