Bright Outlook Ahead for Building Retrofit Industry

Experts predict a bright and thriving future for the building retrofit industry in the May 2012 issue of Construction Headline News. Projections are for billions of dollars of growth from now through the next decade. With the recent completion of the Empire State Building’s multi-billion dollar retrofit project, and a new study on green building that explores the environmental and economic benefits, the retrofitting industry has attractednew attention. Read on to find out what projects around the US are looking to “go green,” and how retrofitting may be advantageous over new construction.

Also in this month’s issue, the FBI is investigating a contractor for a scheme that underbid a Connecticut town’s pipeline contract, only to apply for over $18 million in change orders and is now being sued for defects and associated repair costs. Also tangled in litigation is a controversial cricket academy in the Caribbean that is faced with $1 billion in debt due to cost overruns and alleged substandard construction work. Elsewhere abroad, India launched its first indigenous offshore jack-up rig, however it is plagued with over three-years of delays. The Commercial Bank of China has invested with Aabar, the Arab corporation, to develop over 30 properties in Abu Dhabi. Also across Asia, the economics of dam-building are highlighted as almost four-fifths of all dams in Asia under construction are in China.

Comments are closed.