INDUSTRY NEWS

Commercial property construction work available, says CIC

Commercial property construction work is still available despite the downturn, the Construction Industry Council (CIC) has said.

Landmark projects across the capital such as preparations for the 2012 Olympics and the Crossrail project are providing construction jobs.

The number of people in full-time employment has fallen according to National Statistics, however work was still to be found said Graham Watts, CIC’s chief executive.

He noted this recession was different than the slump in the early 1990s. This was because before, there was no work for people once construction projects had finished.

“There are some silver linings in all of this but it does require the government to spend the money on construction activity that it has committed to spend,” Mr Watts said.

Construction of the Olympic Village is going ahead without a developer because Lend Lease, the firm tasked with its completion, has yet to secure new finance.

It is hoped the huge cost of the village and infrastructure for the games will be offset by the sale of its commercial property once the games have finished.
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