Skidmore, Owings and Merrill, Chicago, won a contract to expand Beijing’s central business district. The SOM plan calls for three new districts anchored by signature parks and green boulevards. The plan has other green aspects, which could reduce energy consumption within the district by 50%, reduce water consumption by 48% and landfill waste by 80% and result in a 50% reduction in carbon emissions.
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.