Public Works: €2 billion, a First Since 2011

22 September 2017

According to AICCOPN ‘s, the Association of Industrial Construction and Public Works, Public Works Barometer, this is the first time since 2011 that public investments have surpassed the two-billion-euro mark. Six years ago, there was a raft of projects that summed €2.73 billion for the year.

However, between 2001 and 2016, average investments amounted to €3.026 billion, which shows that despite current high growth rates, actual investment activity is still far below historical rates.

Finalised contracts that were reported in the Observatory of Public Works, in the scope of public tenders up to the end of August, amounted to 739 million euros, an increase of 69% year-on-year.

The Barometer shows that this development, although positive, falls well short of the total amount of announced investments, and the gap between signed and announced contracts already amounts to 1.369 billion euros.

The contracts signed as a result of Direct Adjustments amounted to €475 million, up 41% compared to 2016. The total number of contracts entered into and reported reached €1.292 billion, a year-on-year increase of 52%.

Original Story: Diário Imobiliário

Translation: Richard Turner