PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: PMR Corporate

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Construction Industry in Russia Sees Long-awaited Upsurge Finds PMR Corporate - The Russian construction sector finally posted some healthy growth figures in the second half of the year - PMRCorporate.com
Construction Industry in Russia Sees Long-awaited Upsurge Finds PMR Corporate

 

NewswireToday - /newswire/ - Cracow, Malopolskie, Poland, 2011/10/14 - The Russian construction sector finally posted some healthy growth figures in the second half of the year - PMRCorporate.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Construction/Architecture/Infra Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

In the first half of 2011 the overall picture of the construction industry in Russia was mixed. Whilst construction companies’ financial results deteriorated, in surveys conducted by the Federal Statistics Service the companies’ managers voiced their expectations of increased profits in the future. The managers also expected the number of workers in the industry to grow whereas in the first months of the current year employment levels in construction actually fell. Although the value of construction contracts signed was higher than in 2010, this did not translate into growth in the value of construction works carried out.

Only in July did the sector finally see an upswing. According to Rosstat, the value of construction works in July increased by as much as 17.6%, with the completion of residential floor space up by 19%. Thanks to the healthy July performance, which resembles the precrisis growth figures, overall January-July growth was brought to almost 5%, as compared to the meagre near-zero growth in the first six months of the year. This was followed by a 12.4% increase in the value of construction works in August. Overall, the value of construction output was 6.2% higher in the first eight months of the year than in the equivalent period of the previous year.

The performance of different segments of the construction industry varied recently. Whereas the residential sector remains subdued, in civil engineering the projects related to the 2012 APEC Summit in Vladivostok and the 2014 Winter Olympics in Sochi have continued to be the major drivers and many of these projects are nearing completion. In 2010 the need to focus on these priority projects meant that financing for smaller, unrelated projects, was affected. In 2011 the overall volume of spending on infrastructure development is increasing and this should result in improved support for such projects. The sector received a welcome boost late last year with the decision to award the 2018 FIFA World Cup to Russia. Stadiums and airports in all the host cities will need to be either built or modernised, and adequate road and rail connections will need to be guaranteed.

Residential construction is unable to regain the momentum that it had during the pre-crisis boom. So far in 2011, housing construction levels have been on par with 2010 levels. In order to speed up construction, not only is increased investment necessary, but perhaps first of all the continuous simplification and rationalisation of the legal environment for property development. Although necessary changes are being put in place, the process is still too slow and the number of procedures connected with housing development still far from being investor-friendly.

The outlook for residential construction thus largely depends on the government’s determination to make investors’ lives easier and to implement the bold plans set forth in the 2011-2015 Housing programme. The programme envisages that annual housing construction levels will grow by 50% by 2015, to 90 million m2. Over its five-year period the programme is expected to create 370 million m2 of housing.

On the positive side, the mortgage market is strongly increasing again, which should prompt property developers to resume projects put on hold and start new ones. This is becoming easier as banks have recently become more willing to finance residential developments.

This press release is based on information contained in the latest PMR report entitled “Construction sector in Russia H2 2011 – Development forecasts for 2011-2014”.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Construction/Architecture/Infra Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: PMR Corporate

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Construction/Architecture/Infra articles,
CATCH Visitors via Your Competitors Announcements!


Construction Industry in Russia Sees Long-awaited Upsurge Finds PMR Corporate

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: PMRCorporate.com 
+48 12 618 90 00 marketing[.]pmrcorporate.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any PMR Corporate securities in any jurisdiction including any other companies listed or named in this release.

Construction/Architecture/Infra via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From PMR Corporate / Company Profile


Read Construction/Architecture/Infra Most Recent Related Newswires:

The VINCI Airports-ORIX-Kansai Airports Joint Venture is Named Preferred Bidder for the Kobe Airport in Japan
VINCI Energies Acquires Acuntia - A Leading Spanish Information and Communication Technology Company
HOCHTIEF and BAM Deutschland to Refurbish and Operate Future Berlin Base of Federal Ministry of Health
CIMIC's Thiess Awarded $650 Million Solomon Extension
VINCI Launches Leonard - The New Group-wide Platform Dedicated to Innovation, Foresight and Inventing the Group's Future Businesses
VINCI Construction Wins A New Contract for Line 15 South of the Future Grand Paris Express Transport Network
CIMIC’S CPB Contractors Wins $400m Airport Runway Works in JV
Eurovia Reinforces its Position as A Leading Highway and Motorway Maintenance Company
Steel Rebar Market Projected to be Resilient During 2017-2025 Reports Persistence Market Research
CIMIC's CPB Contractors Awarded Sydney Metro Works
CIMIC's Thiess Awarded $195 Million Yallourn Mining Extension
Turner-PCL Begins Expansion of San Diego International Airport
CIMIC’s CPB Contractors Wins Nz$ 82m Baypark to Bayfair Upgrade
CIMIC's Sedgman Wins $107M Base Metals Project
CIMIC’S Leighton Asia Awarded A $436M Building Contract

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit Intrinsic Executive Search Ltd

Visit  JobsWare.com





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)