+54% Increase in Industrial Construction Sector Commencements
Industrial Construction Planning Applications also increase by 20% to €178m
In the latest Building Information Index (Q1 2015) findings indicate a generally positive outlook for the Industrial construction sector. Industrial construction project Commencements increase by +54% to €154m over the same period in 2014.
The value of Applications for Industrial developments showed a national increase of +20% (to €178m) in Q1 2015 compared with Q1 2014. There was a significant drop in the volume of Granted permissions (-50%) to €151m, while the value of Industrial construction project Commencements increased to €154m (+54%).
On a regional basis, Munster showed the largest growth in Industrial construction applications (+144%) with Connacht / Ulster also up (+61%). Interestingly the east showed a decline in Applications with Dublin down -56% and Leinster down -26%.
Industrial construction project commencements showed significant growth in Munster, which accounted for over 75% of the overall activity for the entire country. The other regions all showed some decline in year on year Q1 Commencements with the overall national figure being +54%
Interestingly the Industrial construction sector has one of the quickest application to commencement turnaround times at -31% the construction industry average (55 weeks)