flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

New market forces disrupting global real estate development industry

Codes and Standards

New market forces disrupting global real estate development industry

Executives concerned about trade policy, labor shortages, approval processes.


By Peter Fabris, Contributing Editor | September 25, 2018

Market forces including trade policy, labor shortages, and complex approval processes are among the top concerns of real estate development executives according to a report by Altus Group.

The Altus Group Real Estate Development Trends Report is based on a survey of real estate leaders around the world. The report says that 68% of respondents named cost escalation as the biggest business challenge they are facing over the next five years.

Other findings include:

· 65% are facing challenges with labor shortages, which are exacerbated by government policy and booming demand

· 60% are concerned about the development approval process which is often complex and protracted

· 34% view cross-border trade policy as having a negative impact on the industry as uncertainty continues regarding international tariffs and trade agreements

“It’s clear from the report that the global development sector is facing an increasingly complex set of challenges and rapid change, from escalating construction costs to a sea-change in the development financing environment,” said Bob Courteau, Chief Executive Officer, Altus Group. “However, development leaders clearly see significant opportunities to manage risk and take advantage of changing conditions through a number of future-ready strategies including investments in technology and performance management, along with consideration of new ways of managing and financing projects.”

Related Stories

Legislation | Mar 16, 2022

Weak federal commercial real estate rules will hamper seizing Russian assets

Lax disclosure regulations that have made the U.S. a global hot spot for money laundering via real estate holdings will make it difficult for officials to seize properties from Russian oligarchs.

Codes and Standards | Mar 15, 2022

First company awarded Fitwel Certification in Senior Housing for Occupant Health & Wellness

The Springs at Greer Gardens in Eugene, Ore., is the first property to earn a Fitwel global health certification under the newly created senior housing scorecard.

Codes and Standards | Mar 10, 2022

HOK offers guidance for reducing operational and embodied carbon in labs

Global design firm HOK has released research providing lab owners and developers guidance for reducing operational and embodied carbon to meet net zero goals.

Codes and Standards | Mar 7, 2022

Late payments in the construction industry rose in 2021

Last year was a tough one for contractors when it comes to getting paid on time.

Codes and Standards | Mar 7, 2022

Massachusetts proposed energy code changes don’t ban gas

Proposed changes to the Massachusetts energy code would provide incentives for builders to fully electrify buildings, but not impose a ban on natural gas hookups.

Codes and Standards | Mar 4, 2022

Construction industry faces a 650,000 worker shortfall in 2022

The U.S. construction industry must hire an additional 650,000 workers in 2022 to meet the expected demand for labor, according to a model developed by Associated Builders and Contractors.

Codes and Standards | Mar 4, 2022

FAA offers $1 billion in grants for airport terminal and tower projects

The Federal Aviation Administration (FAA) is now accepting applications for about $1 billion in grants for airport projects during fiscal year 2022.

Codes and Standards | Mar 1, 2022

Engineering Business Sentiment study finds optimism despite growing economic concerns

The ACEC Research Institute found widespread optimism among engineering firm executives in its second quarterly Engineering Business Sentiment study.

Codes and Standards | Feb 28, 2022

Low-cost concrete alternative absorbs CO2

Researchers at Worcester Polytechnic Institute have developed a new CO2-absorbing material that’s a low-cost alternative to concrete.

Multifamily Housing | Feb 25, 2022

First set of multifamily properties achieve BREEAM certification in the U.S.

WashREIT says it has achieved certification on eight multifamily assets under BREEAM’s In-Use certification standard.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021