Through the first four months of 2009 the total value of construction starts reached $117 billion, which was 39% less than the first four months of last year, according to McGraw-Hill Construction. “The pattern of construction starts over the past two months suggests a transition from extended declines to more of an up-and-down pattern, which generally takes place when a bottom gets established,” says Robert Murray, MHC’s chief economist. “This process of establishing a bottom is still in its early stages.” The public-works market is expected to see more strength as the impact of the stimulus bill begins to emerge.
The former Soviet nation of Kazakhstan is ramping up completion of EXPO 2017—a futuristic megaproject estimated to cost between $3 and $5 billion that will showcase global energy efficiency and boost the host’s global profile
Cover photo by Neelam Mathews in Astana, Kazakhstan