After discarding both the low and second-low bids, the city of Dallas has decided to start over with a competition for a big drainage-tunnel prime contract in the Trinity River watershed in the east section of the city.
The market has been robust for several years and continues to be so today. However, many firms worry that economic and political uncertainties are starting to cloud the future of the buildings market.
Two big events hit construction this quarter: Brexit—that is, the British vote to leave the European Union— and the U.S government’s decision to increase tariff duties on Chinese cold-rolled flat steel by 522%.
Major oil-and-gas companies are dispatching battalions of scientists, engineers and marketers to squeeze profits from the tightest project margins, often against fierce competition.
Several top architectural firms continue to see improving industry market conditions, enjoying large revenue gains last year and forecasting continued strength in the near future.