DUBAI, July 2 -- The materials that build Dubai's towers, fill Abu Dhabi's apartments, and keep Sharjah's residential pipeline moving are arriving late and costing far more than they did a year ago. For the Gulf's largest developers, that is a problem they planned for. For the smallest ones, it is becoming a different conversation entirely.

Imported building material costs across the UAE rose between 20 and 25 percent compared to pre-conflict levels, according to a Moody's Ratings report released Tuesday. The rating agency attributed the surge to supply chain disruptions that followed the US-Iran military confrontation, which forced contractors to reroute shipments, accept extended delivery timelines, and absorb the premium that came wit...