Moody’s downgrades global construction prospects for 2020-21

On the back of coronavirus disruptions, investor relations company Moody’s has issued a pessimistic outlook on the global construction industry for the next 12 months.  Moody’s Investors Service has issued a report that forecasts there will be a decline in the aggregate average revenue for rated construction companies (excluding mergers and acquisitions), thanks to COVID-19 disruptions, […]

Construction equipment sales to fall 19%

Global construction equipment sales are expected to fall 19% this year from the 2018-2019 peak of 1.1 million machines to 891,000 units, according to revised forecasts from specialist market research and forecasting company, Off-Highway Research. The mildest impact is expected in China where Off-Highway Research’s previous forecast of an 8% fall in sales compared to […]

US Census Bureau reports impacts on construction spending

Construction spending showed declines in many sectors in March, when the Covid-19 pandemic delivered its first blows on the world’s economies, but a small bright spot can be found in the increase in communications related construction, likely in response to a greater demand for at-home connectivity, according to reports. The first impacts of the pandemic on US construction spending […]

ConExpo-Con/Agg 2020: North America’s largest construction trade show

Do you remember the first time you experienced ConExpo-Con/Agg? You surely learned at least one hard lesson at that time. “Make sure you have some good shoes,” says Dana Wuesthoff, vice president of exhibitions at the Association of Equipment Manufacturers (AEM), which manages the massive trade show. “You need to have some good shoes that have been worn […]

GlobalData: Turkey’s construction industry to reach $230 billion

Turkey’s construction industry is expected to recover from its current slump and rise to US$230 billion in 2024, thanks to the government’s focus on developing transport, residential and energy infrastructure, as well as investments under its 11th five-year development plan 2019-2023. GlobalData’s report, ‘Construction in Turkey – Key Trends and Opportunities to 2024’ reveals the industry’s growth […]

Tall buildings in 2019: another record year

The year 2019 was remarkable for the tall building industry, as it saw 26 supertall buildings (300 metres or taller) completed, the most in any year. This is the second year in which this record was established, besting 18 supertalls in 2018. It was also the sixth year in a row that at least one 500-metre-plus building […]

UAE’s airport infrastructure investments hit $272.25bn

The UAE’s General Civil Aviation Authority (GCAA) has revealed that the nation has invested $272bn in airport infrastructure development projects until now, with investments covering projects across the country and a fleet of 884 commercial aircrafts. Commenting on the growth in the aviation sector, the director-general of the GCAA, Saif Mohammed Al Suwaidi, said: “I […]

The Big 5: Will future buildings manage and fix themselves?

The building industry, which has historically lagged in terms of technology adoption, is beginning to have a dialogue on shifting from projects to products, with a particular focus on modular construction. Speaking at the 40th edition of the region’s largest event for the construction industry The Big 5, Aurecon MEP associate, Daniel Borszik, said: “Modular […]

Construction of Mesob Tower in Ethiopia to begin

Construction of the Mesob Tower in Ethiopia is set to begin. Ethiopian Minister of Culture and Tourism Hirut Kassaw (Ph.D.) revealed the report and said that a memorandum of understanding (MoU) was signed between the ministry and the architects who designed the tower, to commence construction works. The 70-storey development will be located in the […]