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05/06/2015

Commercial Property Development Increases

New developments and existing projects have increased by 7.9% in the first three months of 2015.

The published Commercial Construction Index by JLL and Glenigan reports a strong start to the year for non-residential construction.

The figures also show a solid start for the retail and hotel sectors.

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However the medical sector has experienced a decrease in growth.

In Scotland, building has increased by 28.1% while in Wales it has grown by 24.4%.

Allan Wilén, Economics Director at Glenigan said: "£14.9 billion pounds was spent in the 12 months to 2015 Q1 on new building starts including offices, retail stores and schools.

"Last year for the whole of 2014 it was £12.8 billion. Refurbishments and extension projects have declined slightly."

(LM)

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