Construction World November 2022

COMMENT

The various construction projects throughout the country can lull one into a sense that the South African construction industry is buoyant. Construction World’s annual Best Projects Awards attracted 65 entries – a number last seen in 2018. In general these were ‘smaller’ projects as major infrastructure projects are few and far between.

D espite there been many (especially) building projects in the county, CESA’s Bi-annual Economic and Capacity Survey (BECS) for the period January to June 2022, indicates that while 2022 has an improved outlook compared to 2021, projection remains below 2% for 2023/24. And it is not only the government’s slowness in awarding infrastructure projects that plays a role. The low projection is on the back of higher lending rates, which are dampening potential investment demand in combination with slower consumer demand. The declining private and public sector investment, lack of structural reforms, higher inflation and the impact of tighter monetary policy leading to higher lending rates

infrastructure) to smaller projects that all showcase the excellence and depth that the South African construction industry has. The winners will be announced on 9 November and the December issue will be dedicated to the winners and entries of this competition.

lead to a situation where there is less investment in construction. The lack of investment in infrastructure development - in especially the public sector - is of grave concern. To make matters worse, this is combined with a slow pace of tenders awarded and a high percentage of tender cancellations. CESA says this has a dire effect on consulting engineering and construction companies as it affects the sustainability of such companies. BestProjects2022 Construction World’s Best Projects awards, which will be held for the 21 st time this year, attracted 65 entries in its six categories. Entries ranged from bigger projects (building and

Wilhelm du Plessis Editor

OUR DECEMBER ISSUE WILL FEATURE ALL THE WINNERS AND ENTRANTS OF THE BEST PROJECTS AWARDS.

EDITOR & DEPUTY PUBLISHER Wilhelm du Plessis constr@crown.co.za ADVERTISING MANAGER Erna Oosthuizen ernao@crown.co.za LAYOUT & GRAPHIC ARTIST

PUBLISHER Karen Grant

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2 CONSTRUCTION WORLD NOVEMBER 2022