Friday, 2 October 2009

Glasgow construction volume "plummets"


Glasgow construction volume "plummets"

Christian Duffin,, 2 October 2009

The volume of construction work underway in Glasgow has plummeted because of the recession, a study has found.

A survey carried out by commercial property consultancy Drivers Jonas found that 13 developments are currently under construction in Glasgow, compared to 30 last year.

The survey found that no new schemes started construction in 2009, compared to 11 in 2008.

There are only 122 residential housing units set for completion this year, substantially lower than the 580 annual average over the last nine years, according to the survey.

Several hotel developments have been delayed, including the Jumeirah Glasgow Hotel and the Bothwell Plaza, which have dented plans to add 3,000 hotel bedrooms by 2014, when the city hosts the Commonwealth Games, according to Drivers Jonas.

Alasdair Ramsay, a partner at Drivers Jonas in Scotland, said: "The research shows there is little construction activity in Glasgow city centre. However, the developments that have taken place in recent years have reinforced confidence in the city. Plans are currently being prepared for several commercial developments, even during the recession."

The survey can be seen here

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