The global recession knocked down building costs in many Asian countries in 2009, but inflation appears to be making a modest comeback in the region this year. The London-based international cost consultant Gardiner & Theobald Inc. reports that building costs in Shanghai declined 3.4% in 2009 after increasing about 7% in both 2007 and 2008. This year, building costs in Shanghai increased 1.4%, says G&T. + Image Related Links: Forecast: A Weak Recovery Checks Inflation Confidence Index: Heads of Major Firms Believe Market Is Nearing Stability Equipment: Why Few Are Debating the New Federal Fuel Economy Rules Lumber: Chinese Demand
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.