The number of new large scale construction projects started nationwide in December and January was “encouraging” for the commercial market according to the latest report from local Pacifecon researchers.There were 30 projects announced in Dece
The number of new large scale construction projects started nationwide in December and January was “encouraging” for the commercial market according to the latest report from local Pacifecon researchers.
There were 30 projects announced in December and January, 19 from the private sector while 11 were public.
There were fifteen projects reaching the tendering stage in January, five of which were private.
“Encouraging because this indicates that government funding is biting in and that a nucleus from the private sector is holding firm,” said the Pacifecon report.
New projects currently being worked on include a 5,046sq m Foodstuffs supermarket in Takanini, a 3800sq m Progressive supermarket in New Plymouth, a 27-lot subdivision in Silverdale by Mainstay Developments and the $42.6 billion Northern corrider NZ Transport Authority confirmed it is going to build from Wellington Airport to Levin.
“The big players are faring reasonably, some more so than others, albeit at a more competitive margin,” Pacifecon said.
“There are some signs apparent of a resurgence in multiple residential housing and the latest council initiatives streamlining the consent process for these, will further support this.”
