On-demand recording: COVID-19’s contrasting impacts on global construction markets
The different measures adopted by governments to tackle COVID-19 have had varying impacts across global economies and industries.
Construction activity is rapidly resuming in some locations around the world where it was halted by lockdown, but it is not quite business as usual for others. Perspectives from Bangalore, in India, Stockholm, in Sweden, and San Francisco, in the USA, point to a new normal for construction and real estate.
India was on track to become the world’s third largest construction market by 2025, but lockdown saw sites close and workers leave the city to return to their home communities. As construction resumes, the industry is facing a shortage of labour, which could lead to cost increases.
By contrast, the Swedish government’s herd immunity policy has resulted in relatively few changes to business, education and other activities. Its approach has kept its buoyant construction market on track, although there could be negative impacts as global businesses operating there change their overall commercial strategies.
San Francisco’s Bay area saw most construction halted as Mayors implemented shelter-in-place policies, but markets are expected to rebound strongly, with tech and high-density housing continuing their growth trajectory. Globally, the technology and manufacturing sectors have proved robust and look set to be in the vanguard of economic recovery.
COVID-19 has been a catalyst for change for asset owners, who are adapting their operating models to the present uncertain business environment. Looking to the future, clients may re-evaluate property portfolios, make greater use of agile working and adopt new technology or automation.
During this 15 minute recording our Chief Operating Officer, James Dand, is joined by Malini Sudhakar, Director at our Bangalore office, Dave Bell, Vice President of our San Francisco office and Nima Aase, Director of our Swedish business.
Listen to discover:
- The impacts COVID-19 has had on each market
- How each industry has responded
- The lasting changes we expect to see post-COVID-19
- Our advice on what clients need to be thinking about right now.
Please visit our COVID-19 response page for all of our resources relating to the impact of COVID-19 on the construction sector.