Overview of the Construction Sector
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Overview of the Construction Sector
Publisher: African Review of Economics and Finance
Pub: 2022-01-12 06:50:23
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The construction industry is set to make great leaps to make up for its lag of other sectors. Compared to auto-manufacturing, mobile telecommunication or global shipping, for example, constructions snail pace is visible. In this article I argue that the sands in the wheels of the construction industry will be unclogged to allow the sector to play a more active and liberated role in improving the built environment. The inefficiencies and imbalances of the sector will bring the entire deck of cards down for the existing paradigm has already bored the seed for its own restructuring with obsolete technology, significantly large cost overruns and major building projects delays and massive pilfering. On the positive side, the moribund industry driven by lopsided models and outdated technologies will make way for injection of new designs and affordable infrastructure that complement the forward and backward linkages needed for growth and development.
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Keywords
Built Environment, Materials, New Technologies
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