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...Dickie said that because Grosvenor was already a commercial developer, funding construction was “already within our risk appetite” and the company could more easily “take a view on pricing that risk”....
...S&P Global’s construction purchasing managers’ index rose to 50.2 from 49.7 in February....
...However, commercial construction remains subdued, with commercial contractors citing client hesitancy and tight budgets....
...Housebuilders registered a marginal improvement from 49.8 in February to 49.9, a 16-month high, while the commercial construction sub-index rose from 49.0 to 49.9....
...Commercial construction activity declined in February, with contractors citing client hesitancy and constrained budgets....
...The building, part of British Land’s joint venture with Singapore’s GIC at Broadgate, is under construction and due to be completed in 2027....
...S&P Global and Hamburg Commercial Bank’s Germany construction purchasing managers’ index for December showed a sector deep in contraction at the end of 2023 with a “bleak outlook” for 2024....
...office investment to remain sluggish in the next few years, resulting in a 0.2pp drag on fixed private investment growth, which will only be offset modestly by a 0.05pp boost from increasing multifamily construction...
...Around a quarter of homes and a third of commercial buildings are protected by listings or in conservation areas....
...engineering and commercial work during November.”...
...He added that there were signs of “weakness spreading to civil engineering and commercial work”....
...Yet since the great financial crisis, fears of ecommerce disruption to the grocery business have kept construction in the retail sector subdued....
...That can no longer be taken for granted with state-owned China Construction Bank (CCB) taking rare legal action against the troubled mainland developer Shimao Group....
...UK commercial housebuilders built about a quarter fewer homes in 2023 than the year before, according to equity analysts at Investec, with building rates forecast to be flat in 2024....
...Investments that the government is making include a new 18-courtroom complex under construction off Fleet Street in London that will focus on fraud and cyber crime....
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...Commercial building, meanwhile, showed signs of stabilisation, rising to 49.5 in October from 47.7 in September, indicating only a marginal fall in activity....
...In contrast to housebuilding, commercial building activity in the UK continued to expand in August with the index reading 54.2 — largely unchanged from the previous month....
...For all the fanfare that accompanied its construction, the Depression-era 40 Wall Street was a commercial bust. It fell into foreclosure within a decade as many of its tenants went broke....
...“Nuclear energy has great commercial attributes but it also has huge geopolitical attributes....
...And better planning could cut construction times....
...Commercial and civil engineering activity also contracted in September, reversing the solid growth seen throughout the spring and summer....
...A boom in new construction, sales and home prices all accompanied the low interest rate era. With its end, all are in free fall....
...The S&P Global/Cips UK Construction Purchasing Managers’ Index, a measure of activity, fell to 50.8 in August, down from 51.7 in July....
...But the ECB said a strong labour market was helping to keep mortgage defaults low, while housing shortages and rising construction costs were providing support to prices....
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