The value of infrastructure contract awards rose in month-over-month terms in January, according the latest industry research.
Construction market intelligence firm Barbour ABI says January’s total came in at £1.5bn, an uptick of 18.5% over December. “Whilst the infrastructure sector remains open to considerable volatility in monthly contract award values, the sector has remained relatively robust over the last two years with contract awards consistently above the £500m threshold,” it added.
(Source: Barbour ABI)
The total value of construction contracts awarded in January 2019 was £5.5bn; up 9.9% over December 2018 figures.
Looking at how these contracts were awarded across the sectors, the residential sector was the largest in January 2019 with a 28% share, followed by infrastructure with a 21% share and the commercial and retail sector with a 20% share.
According to Barbour ABI data, the largest contract awarded in January was the £400m Paddington Cube in Paddington Square, London within the commercial and retail sector. This development covers 49,676 sq m of office and retail space and was awarded to Mace Limited. (See Figure 1.1 above)
The second largest contract awarded was within the hotel, leisure and sport sector for the Manchester Town Hall redevelopment valued at £330m.
Hinkley Point C Connection Project was the third largest contract awarded to provide an overhead power line to connect Hinkley with substations in Bridgwater and Avonmouth. This has been valued at £214mn and was awarded to Balfour Beatty.
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