{"id":6906,"date":"2024-09-26T12:04:52","date_gmt":"2024-09-26T10:04:52","guid":{"rendered":"https:\/\/industryinsight.co.za\/wp\/?p=6906"},"modified":"2024-09-26T12:04:53","modified_gmt":"2024-09-26T10:04:53","slug":"sharp-decline-in-public-building-tenders-a-post-election-setback","status":"publish","type":"post","link":"https:\/\/industryinsight.co.za\/wp\/sharp-decline-in-public-building-tenders-a-post-election-setback\/","title":{"rendered":"<strong>Sharp Decline in Public Building Tenders: A Post-Election Setback<\/strong>"},"content":{"rendered":"\n<p>Public building tender values experienced a significant downturn, plummeting by 78% year-on-year in August to an estimated R964 million, compared to over R4 billion in August 2023. Since May 2024, tender values have fallen by an average of 46% year-on-year, a stark contrast to the 160% surge seen between January and April. The Western Cape was the only province to report a marginal increase, at R80 million, while all other provinces recorded sharp declines.<\/p>\n<p>For the first eight months of 2024, overall tender values dropped by 12% (nominal), totaling R11.2 billion compared to the same period in 2023. Declines were particularly severe in KwaZulu-Natal, Eastern Cape, Free State, Northern Cape, and Mpumalanga. However, some provinces showed resilience. Gauteng nearly doubled its tender values to R1.7 billion, Western Cape saw a 159% increase to R1.1 billion, North West Province rose 82% to R912 million, and Limpopo increased by 16% to R1.4 billion. Provinces with tender values exceeding R1 billion in this period included KwaZulu-Natal, Eastern Cape, Gauteng, Limpopo, and Western Cape.<\/p>\n<p>The overall outlook remains cautious, with a pronounced slowdown in pipeline values and considerable regional disparities. As the 2024\/25 financial year budgets are implemented, it remains uncertain whether spending rates will improve or if allocations for social infrastructure will see an increase. The National Budget for 2024 reflected a rise in water-related infrastructure spending but at the expense of cuts to the Transport budget, with housing, health, and education capital expenditures also seeing reductions.<\/p>\n<p><a href=\"https:\/\/industryinsight.co.za\/wp\/download\/public-sector-building-tender-values-august-2024\/\">Click here to download the full dataset<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Public building tender values experienced a significant downturn, plummeting by 78% year-on-year in August to an estimated R964 million, compared to over R4 billion in August 2023. Since May 2024, tender values have fallen by an average of 46% year-on-year, a stark contrast to the 160% surge seen between January and April. The Western Cape&#8230; <\/p>\n","protected":false},"author":9,"featured_media":6908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/posts\/6906"}],"collection":[{"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/comments?post=6906"}],"version-history":[{"count":1,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/posts\/6906\/revisions"}],"predecessor-version":[{"id":6909,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/posts\/6906\/revisions\/6909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/media\/6908"}],"wp:attachment":[{"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/media?parent=6906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/categories?post=6906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/industryinsight.co.za\/wp\/wp-json\/wp\/v2\/tags?post=6906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}