More Than €8 Billion Worth of Construction Projects Went On-Site in 2016 – CIS
Over €8 Billion worth of construction projects went on-site in 2016 according to Construction Information Services (CIS) on Wednesday. The finding comes from the recently published 2016 Construction Market Review that also shows that almost €11 Billion worth of projects moved to Plans Granted stage while over 16,500 residential units were granted planning permission.
CIS says the €8 billion in projects that have moved On-Site in 2016, is up from €5.7 billion in 2015 and €3.4 billion in 2014. The number of major projects On-Site has risen from 939 to 1,342. This is an increase of over 25% (excluding single dwelling and residential extensions).
However, the Commercial, Education and Sport and Social Sectors have decreased in value terms in 2016. All other sectors show an increase in activity by value. The Residential and Civil & Utilities sectors were the largest in terms of value in 2016. The value of projects On-Site has increased by almost 90% in Q3 2016 when compared with the Q2 2016 period. This was in turn down 44% on the Q1 2016 figure.
The volume of projects moving On-Site increased by 27% to over 2,800 in 2016.
The value of projects that moved to Plans Granted stage in 2016 is up 37% over 2015, to almost €11 billion
The value of projects granted planning has more than doubled in two years. The Residential and Commercial sectors are the leading two in terms of collective project value
The overall volume of projects granted planning in 2016 is up 12% on 2015 levels. The Medical & Care Residential, Industrial, Education, Sport, Social & Leisure sectors are all down slightly in terms of project volume. Every other sector is growing.
The overall value of projects in 2016 at Plans Submitted stage is up 3% on 2015 levels An increase of 500 projects (+13%) on the same period last year
The Agriculture, Medical, Education, Industrial, and Sport sectors are all down slightly in terms of total project value. Residential is the largest sector at this stage of the pipeline. CIS have seen a modest increase of 7% in the value of plans submitted in Q3 2016 when compared to Q2 2016. Dublin has increased by 41% while the rest of Leinster is down 38% for the quarter.
The volume of projects which have been submitted for planning in 2016 is up by 5% on 2015 levels. Unsurprisingly, and in keeping with the trends in the other stages, the Sport, Social & Leisure, Education and Medical & Care Residential sectors are all down slightly in project volume while all other sectors have grown in the period under review.
