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Construction Party may yet leave a nasty hangover
Thursday, 10, June 2010


South Africa not only confounded international expectations when it completed world cup football stadiums ahead of schedule. The contracts helped shield the country’s leading construction companies from the impact of the economic downturn.With that temporary boost now over, many in the industry are expecting a bitter hangover to follow the feast of football.A continuing lack of private investment means this year could be one of the sector’s toughest in recent history, says Elsie Snyman, chief executive of construction analysis company Industry Insight.

“The private sector is not going to be in the industry for the next couple of years,” she warns.Residential construction went into a decline in the middle of 2007 and is still falling sharply, with investment in the fourth quarter of last year down by 8.3 per cent year-on-year.The situation looks no better in the commercial sector, which tends to lag behind trends in residential construction, says Ms Snyman, while uncertainty about electricity supply has seen mining companies shy away from big building projects.
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