2022- a year of hope for the construction industry

The construction industry is looking at 2022 with great hopes as there has been an increase in the infrastructure expenditure and greater private sector spend.

FREMONT, CA: The construction industry is looking at 2022 with great hopes as there has been an increase in the government-led infrastructure expenditure and greater private sector spend. As per the survey conducted by the RIB CCS in Africa and the Middle East, in the final quarter of 2021, this appears to be good news for the industry, since in the first 11 months of 2020, in South Africa alone, the total value of plans passed for building construction fell by 37% year-on-year. The Middle East and North African region had a similar situation with the fall in the oil prices in 2014 and the 2020 pandemic adding to it.

However, 68 per cent of the report predicts an increase in the project revenue in 2022, while 10 per cent also expects a decrease in revenue. The survey respondents are looking forward to emphasizing digital transformation, implementation of LEAN construction principles, expansion of business offerings and expansion of geographic reach. These measures aim to improve the operation of the construction firms and also bring in efficiency in the system

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