COVID-19: €17.9bn Impact on Construction Industry in Ireland

According to Construction Information Services (CIS), €17.9bn in project work has been halted in Ireland due to current COVID–19 industry shutdown, with a further €2.7bn in stoppages in Northern Ireland.
The COVID-19 pandemic has had a profound impact on all of our lives. While it is much too early to assess the full implications, the latest assessment from CIS estimates the direct impact on construction activity on the island which has ceased beyond works directed at repurposing medical and care facilities, and essential maintenance works.
CIS has taken a snapshot of construction activity at the end of March, which quantifies the impact across the various sectors. Its researchers have identified 1,137 active sites in the Republic of Ireland that have ceased, with a combined overall value of €17.9b.
In Northern Ireland, they have identified a further 345 active sites, with a combined value of £2.7b.
Their latest report examines this impact in detail across the regions and sectors. It provides a baseline by which to monitor recovery, which will inevitably resume with sites previously under construction. The report outlines the economic context, drawing on preliminary work by EY Ireland and details the levels of support available in both jurisdictions.  The speed with which the industry can get back to the levels outlined in the report is dependent on many variables including financial capacity, materials and supplies, workforce availability, workplace conditions, legislative barriers and Government policy.

Coronavirus (COVID-19) News Updates, Featured, News