The Republic’s building industry will generate close to €20 billion this year, according to engineers Aecom.
The global infrastructure consultancy published a review of construction on Friday showing that the industry here grew 18 per cent in 2017.
“Output value is expected to increase by a further 14 per cent to approximately €19.5 billion in 2018,” Aecom added.
Dublin’s commercial market continued to strengthen through 2017, while there was also increased activity beyond the capital, Aecom says.
“The residential sector, which historically has been the key driver of output, has been struggling to respond to the housing crisis,” the firm notes.
Aecom said that work started on 4,055 new homes in the first eight months of the year, a 25 per cent increase “from a very low base” during the same period in 2016.
The company’s report questions whether the Government can reach its target of increasing spending on State-funded building projects by 18.5 per cent.
“The pace of development of public infrastructure is likely to continue to be hindered by a lack of internal resources, a challenging planning process, inappropriate procurement routes and time consuming approvals structures,” Aecom said.Tags: Aecom, Business, Dublin(IE), Equities, Markets