Business

Decreased investment in construction

July 2, 2020 6:10 am

Due to the pandemic, businesses now face increasing challenges and the Construction sector is no exception.

Due to the pandemic, businesses now face increasing challenges and the Construction sector is no exception.

The building industry is contemplating what will transpire and looking at ways to avoid major delays.

The Construction Industry Council President, Gordon Jenkins says the investor confidence might be severely affected due to the impact of the pandemic.

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“I think a lot of people especially developers are a bit nervous about making commitments or anything until such time when everything is all clear.”

Jenkins says they had ongoing work which has carried them through the past few months however the future looks a bit bleak.

He adds that construction companies will make adjustments which may include laying off staff if the need arises.

“I have got a couple of projects but it has been put on hold for six months because of the uncertainty of the whole situation.”

The Council believes this slowdown is going to impact the industry for up to a year or more however at the moment it is functioning alright.