Steep rise in civil construction tender activity ‘encouraging’

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Steep rise in civil construction tender activity ‘encouraging’

The larger road projects put out to tender in Q2 emanated from provincial departments and Transnet and do not reflect the R40bn commitment made by Sanral last week. Picture: Shutterstock

The nominal estimated value of civil construction projects out to tender was up by 38.6% on a year-on-year basis in the second quarter.

The construction industry has received a sign of possible better times ahead, with the nominal estimated value of civil construction projects out to tender increasing by 42% in the second quarter of this year compared to the previous quarter. David Metelerkamp, senior economist at construction market intelligence firm Industry Insight, said the nominal estimated value of civil construction projects out to tender was up by “an encouraging” 38.6% on a year-on-year basis in the second quarter. “Following some improvement in the estimated tender values during the last two quarters, the annual rate of decline measured over the last 12 months...


 


 


 

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