Glenigan has revealed that there are opportunities for construction suppliers despite uncertainty around Brexit.
The latest market forecast states that private sector construction tenders may be on the rise due to an increase in the building of warehouse spaces, secondary schools, universities and student accommodation villages.
Construction tender opportunities
The recent research completed by Glenigan’s market analysis team reflects the current momentum within the sector’s “niche areas”. We look over some of the stronger areas that construction suppliers should consider in 2018.
The forecast anticipates that the value of overall education construction starts is set to rise by 11% in 2018. The company predicts that UK secondary school construction projects are set to expand to meet rising pupil numbers.
Already, within the first half of the year, the value of school projects winning detailed planning approval has risen by 50%.
As for universities, tenders have most recently been returned on a £2m extension to an energy centre at the University of Sheffield and tenders have been invited for a £3m extension at the University of Essex.
Glenigan has stated that Student Accommodation is an extremely “positive area” within the construction sector. Allan Wilén, Economics Director at Glenigan, noted that:
“Student accommodation has been a growth area for a number of years, the development pipeline there remains very strong. There is a strong demand for students and investors to press ahead with these schemes, with the backing of the universities.”
Allan Wilén also said that there is “a strong demand for logistics bases”, stating that it has been a steady growth area in recent years, which he hopes will drive the industrial sector.
Construction tenders may become available to create new logistics and warehouse space to handle the rise of eCommerce shopping.
Civil engineering Opportunities
Although the civil engineering sector has been hit in recent years, it is set to repair itself over the next couple of years.
Glenigan has revealed that civil engineering contractors are expected to benefit from a growth in smaller projects as well as from major infrastructure projects in the UK such as HS2 and Thames Tideway project.
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