Governments throughout the world are pouring trillions of dollars into their economies to halt their decline and stimulate recovery. It’s still too early to detect results, and in most places construction has ground to a halt. But in Vietnam, a skyscraper continues to rise. Toronto also is relatively unscathed, thanks to pent-up demand for office space, and Calgary’s market is still floating on oil. Photo: Turner Construction Collapsing world economy has failed to halt the rise of Vietnam’s Bitexco Tower. “On a relative basis there is work in Vietnam, whereas work has stopped in India, Russia, Dubai and other places,”
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.