Activity in the Irish Construction Sector continues to rise on the back of higher new orders. The key highlight of the latest monthly figures indicate a near – record rise in employment as Architects, Engineers and Contractors respond to ever increasing workloads. The Ulster Bank Construction Purchasing Managers Index (PMI), a seasonally adjusted index designed to monitor changes in construction activity, indicated an increase in output in January, making it the longest sustained surge in the construction economy, which has now shown gains for the past 40 months, month on month.
Architects and Engineers
The demand for Architects, Engineers, Technicians and Architectural Technologist continues to keep apace with the demand for more projects. Encouragingly, the demand and output, of Residential and Commercial projects shows no sign of slowing down, quite the contrary. 2017 will see phenomenal output in housing stock, an increase of almost 60% year on year compared to 2016, but still lagging behind the required output of 30,000 units per year. Commercial output will see a staggering 600,000m2 either being built or completed in the next two years, based on 106 individual projects. The projected investment of €2 billion on 75 projects, only covers the cost of construction! The demand is so acute that tenants are now snapping up pre – construction space, even prior to the planning process being completed. A marked increase in firm enquiries by Financial Institutions, International Banks and a huge variety of Professional organizations seeking space prior to Brexit is adding further demands for office space.
What about the Future?
The Irish Government, together with all the professional and partner organizations, have finally become motivated to manage, and actively promote, the business of planning for the development of Ireland Inc. over the next 25 years. Where successive Governments in the past adopted a passive role in the infrastructure and construction industries, it has now become pro – active in shaping the Ireland of tomorrow for the youth of today.
There has been an increased awareness of the terrible price Ireland has paid for the excesses of the first decade of the new millennium. The collapse of the Banking industry may be the most obvious fallout, but the dreadful loss off tens of thousands of Ireland’s youngest and brightest, to emigration, so many of them with state funded third level education and expertise, has left a huge void in the supply of expertise and experience which will take a long time to replace. It is encouraging to see how aware Government agencies have now become, and the many initiatives being taken to encourage emigrants to return home. Key to that strategy is the recognition that job security for Architects, Engineers and other professionals must be central to ongoing initiatives. There is an awareness in State agencies, that the mistakes of the recent past cannot be allowed to pass without recognition. The future is very bright for young, experienced Architects, Engineers and Construction experts to return home to secure employment in the longer term.
If you are considering a move back to Ireland and wish to discuss the current opportunities within the Architecture, Engineering and Construction industries, contact me on email@example.com or call Caroline on + 353 86 8055216.