Irish construction sector to benefit from sustainability and infrastructure investment
Mace, the international consultancy and construction company, has identified opportunity in sustainability and infrastructure investment for the Irish construction sector in its Ireland Market View report.
The report follows on from a challenging year for the industry in the region, with contractors reporting steep price increases for materials, gas and electricity across 2022.
It also comes as British Prime Minister Rishi Sunak rallies for support of his new ‘Windsor Framework’, a deal with the EU which outlines the post-Brexit trading arrangements and may give renewed confidence about Ireland’s future growth prospects.
The Mace Cost Consultancy report outlines some of the expected ongoing challenges for Irish construction for the year ahead - including prolonged high inflation and elevated costs for gas, electricity and materials. It also highlights risks of slowed project delivery due to skills shortages.
The report also identifies opportunities for the sector, with the need to improve building efficiency through retrofitting and the ongoing demand for maintaining and construction infrastructure expected to provide a boost to the sector over the next 12 months.
Andy Beard, Global Head of Cost and Commercial Management for Consult, Mace, said:
“Despite ongoing challenges for the sector, there is plenty to be positive about for the construction industry in Ireland.
“The Irish Government has ambitious plans, particularly around energy, utilities and transport. Such investment is vital in order to reach carbon neutral targets.
“However, to successfully complete all of these schemes, the government will require an intelligent approach to skills shortages.’’
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