2023-11-03 19:11:00
Interest rate changes, increased material prices and stricter equity requirements for real estate financing are affecting the construction industry. The head of the listed construction group Porr, Karl-Heinz Strauss, is still confident regarding the future prospects.
“Without the construction industry, the megatrends of urbanization, mobility, education and health infrastructure cannot be managed,” said Strauss this week. Porr’s order books are full, including civil engineering, road construction, railway construction and infrastructure. Strauss expects that residential construction, which is currently in crisis, will recover once more. “The situation is better than the mood. Many are already starting to make calculations once more, especially the non-profit housing developers. We are also currently calculating more for our customers than ever before.” Things are looking quite good for residential construction in 2024.
Workers from third countries
Strauss is also optimistic regarding the personnel situation in the construction industry. He doesn’t believe that the construction industry will lose talent due to demographic developments, but it won’t work without the influx of workers from other countries such as India or Pakistan.
Porr employs around 20,000 people across Austria. Production output amounted to 6.2 billion euros in the previous year.
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