ARTICLES LABELLED WITH TAG construction

The amendment to the Construction Law in Poland came into force on 19 September. Changes include a division of project documentation, organization of the provisions which specify what works require a building permit, and legislation on unauthorized construction, and in the opinion of experts from JLL, ought to be of benefit to investors, developers and construction companies operating on the Polish market.

Unusually, due to the current situation, Euroconstruct has issued an interim forecast which is a revision of the June construction market forecast. The results have been summarised by János Gáspár, head of Euroconstruct's Hungarian research institute, Buildecon.

The construction sector in Bulgaria, and building construction in particular, was not affected as hard as others by the COVID-19 crisis, according to a report by the Eastern European Construction Forecasting Association.

Speedwell has designated Bog’Art as the general contractor in charge of Miro, the company’s newest office project located in the Băneasa area of Bucharest. Miro project will offer its tenants 23,000 sqm of Class A office space spread out over 5 levels. The project has been granted the building permit and works have already started.

Atenor announced that RoseVille, its latest project in Budapest, located on Bécsi Road of District III has received the final building permit. The developer acquired the 6,604 sqm plot at 68-84 Bécsi Road last spring to build a 15,000 sqm Class A+ office building there.

Manufacturers of concrete products in Poland will be able to generate a little over PLN 9bn in revenue in 2019 in spite of slower construction activity, according to the findings presented in the latest report by research company Spectis.

When assessing the first quarter of 2020, analysts of EBI Construction Activity Report Q1 2020 already highlighted the impact of the pandemic on the Hungarian construction industry. Back then, they did it with the help of a forecast based on limited available data, but since then actual data have been released and the impact of the pandemic on the sector can be assessed in detail.

Echo Investment has gained a loan for the construction of the MidPoint71 office building, that is being built in Wrocław on Powstańców Śląskich street. PKO Bank Polski provided the financing of the project. In accordance with the signed loan agreement, the bank granted Echo Investment €54.4 million in a construction loan, as well as a PLN 7 million VAT loan. Once the construction is finished, the construction loan will be converted to an investment loan. The total funding period ends on 30 June 2026.

There are only four construction projects with a unit value in excess of PLN 3 billion (€670 million), excl. VAT, currently underway in Poland. The combined value of these projects, commonly referred to as megaprojects, is almost PLN 17 billion (€3.8 billion), excl. VAT. This is not a lot, given the fact that projects worth a total of nearly PLN 300 billion (€67 billion) are in the pipeline.

The construction industry in most of Southeastern Europe will be bruised by the pandemic effects this year, causing a drop in construction outputs. The two exceptions are Croatia and Bulgaria where civil engineering could compensate for the losses elsewhere. Already in 2021, we are likely to see positive growth rates in all 5 countries, according to the Eastern European Construction Forecasting Association