ARTICLES LABELLED WITH TAG construction

COVID-19’s direct impact on ongoing construction activity in Romania has been minimal since no restrictions were in place specifically targeting construction works. Several indirect factors, however, are expected to limit the amount of construction activity. The Eastern European Construction Forecasting Association has published a COVID-19 update on the construction sector of Romania.

Generation Park Y, Skanska's highest office project in the CEE region, reached the target height of 140 metres. The building will offer 47,000 sqm GLA with completion planned for Q1 2021.

The construction industry seems to have been relatively less affected than some other industries (like tourism) as most large projects continue during the lockdown measures across the region. The Eastern European Construction Forecasting Association has published a COVID-19 update on the construction sectors of Bulgaria, Croatia and Slovenia.

Skanska has been assigned to construct a new medical faculty for the Cardinal Stefan Wyszyński University in Warsaw (UKSW).

A new subsidiary has been created by the Bayer Construct group of companies, which is 100% Hungarian-owned and offers complex construction and real estate development solutions. The new company, Bayer Property will focus on the preparation and implementation of complex real estate development projects

Arcadis published the annual results of the international construction costs comparison (International Construction Costs 2020). Arcadis ICC Index 2020 monitors 100 cities around the world, assessing their construction costs and market conditions. This year's study also includes an insight into the construction industry in view of the current coronavirus pandemic and the ongoing climate change. According to the ICC Index 2020, Prague has higher construction costs in the CEE region than Warsaw (Poland), Belgrade (Serbia), Bucharest (Romania) and Sofia (Bulgaria), but lower than Zagreb (Croatia).  

This week, the European construction industry calls for urgent measures to protect workers’ health, support economic activity and accelerate the recovery.

March was the twelfth consecutive month to see decreases in confidence in the construction sector. The seasonally-adjusted confidence index dipped into negative territory, and it plunged to a three-year low. Since the March survey does not reflect a completely new economic reality, it is expected that construction confidence will fall dramatically in April.

Business confidence among Polish construction companies tumbled early this year, with the heaviest burden, as perceived by the enterprises, coming from labour costs and tax levies. Decline in confidence is chiefly due to such factors as an over 15% increase in the minimum wage and a 10% hike in social insurance contributions faced by sole traders operating in the construction industry. On top of that, large construction businesses are required to conduct Employee Capital Schemes (PPK) or the alternative solution of Employee Pensions Schemes (PPE).

The top 40 construction companies operating in Poland posted a record aggregate revenue in 2018, breaking the previous revenue high set in 2011. Besides an improved volume of work, the revenue hike was also largely driven by rising prices of building materials and labour.