Ongoing growth in the Asian construction sector has been predicted to continue until at least 2016, new data from BIS Shrapnel has revealed.
According to the organisation's Building and Construction in Asia 2012 - 2016 report, the construction industry across the continent is unlikely to reach such hectic levels as seen prior to the downturn, but there will be a gradual ramping up of activity in the coming years.
"The biggest single factor supporting construction activity is the obvious: Asia's economic development process is a key dynamic driving construction activity," commented Adeline Wong, BIS Shrapnel senior project manager. "The development dynamic has elements of a self-reinforcing cycle."
Meanwhile, the company's managing director Robert Mellor argued last month that ongoing small increases in the value of homes across Australia is a much healthier model for the future than a fast recovery spurred by a lack of construction. He claimed this would pose a significant risk of an artificial property bubble forming.
Posted by Steve Douglas