UK construction projects are reopening
Construction projects in the UK have started reopening following the closure of more than 50% due to the Covid-19 pandemic, according to Adrian Kearsey, Built Environment research analyst. About 35% of projects are still closed, though the open sites are progressing slowly due to significant disruption in the supply chain.
The status of project varies by type, with 80% of public sector construction and infrastructure open, while 75% of private residential new build sites are shut.
Construction companies mostly have stronger balance sheets than in the run-up to the 2008 financial crisis, and many will weather the current storm without raising new capital. A few have already raised capital and Adrian doesn’t expect (m)any more at this time.