Construction Forecast Report March 2022

Since our last review, the outlook for global economic growth has weakened and this together with the Russian-Ukraine invasion will have serious consequences for emerging markets and the South African economy. Poor delivery within SOE’s continued with no improvement since our last review. However, considering the robust increase in the estimated value of civil tenders released during 2021 we remain hopeful that these will have a positive impact on the sector in 2022.   The pipeline of private sector building construction projects, based on approvals by the local authorities, showed some improvement off the low base in 2020, but remains extremely weak by historical terms. A full review by segment, including Residential, Non-Residential and civil works is now available for download.