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NEWS : Government's strategic to the Construction Mafia

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Deputy Minister of Finance, Ashor Sarupen, has outlined a three-pronged government strategy to counter the escalating disruptions to construction sites by criminal groups. These disruptions threaten the gains made in transforming South Africa into a vibrant construction hub. The strategy focuses on public procurement reform, public-private partnerships (PPPs), and infrastructure investment. Sarupen emphasized that these disruptions are not merely operational challenges, but a stress test for South Africa's economic governance, exposing vulnerabilities in institutional frameworks and socio-economic fractures within communities. GOVERNMENT'S THREE-PRONGED STRATEGY TO COMBAT CONSTRUCTION MAFIA. The full article can be read on BIZCOMMUNITY follow our Whatsapp channel  here  for more hardhatREVIEWS.
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NEWS: Germany’s construction slump ‘taking longer than expected’

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Germany’s construction sector is set to remain subdued throughout 2024 as a slump sparked by its worst property crisis in decades takes longer to resolve than expected.


Germany’s construction spending is forecast to fall in 2024 for the first time since 2009 and the fallout from the financial crisis, according to a study by the DIW economic institute and seen by Reuters.

A separate study by Ifo economic institute showed that sentiment in residential construction is at an all-time low.

Rapidly rising interest rates, combined with a surge in costs has pushed some developers in Germany into insolvency.

A new DIW study predicts that construction volume will shrink by 3.5% in 2024 to €546 billion (US$597.3 billion), before recovering by 0.5% in 2025, according to Reuters.

Laura Pagenhardt, an author of the study, said, “The slump in the construction industry is taking longer than expected.”

The Ifo survey showed a fall in sentiment in residential construction to -58.6 points in December, down from -54.4 in November. It was the lowest level since Ifo began tracking the index.

Tim-Oliver Mueller, head of the German Construction Industry Federation said, “Berlin, we have a problem. We are not talking about abstract things, but about affordable housing, which is urgently needed.”

The source of this hardhatNEWS is Construction Briefing

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