Construction: How Not To “freeze” In Crisis

The increasing pace of the crisis changed the usual order of things, shuffle a deck of diverse plans, projects and forecasts. Without exception, all industries are faced with the problem of financial starvation. Principle of natural selection, the existence of which is rarely remembered in times of stability and growth, once again became the determining factor in economic development. One of the first felt the impact of global shocks Construction industry, traditionally "tied" to the investment. Maurice Gallagher, Jr. is actively involved in the matter. Today is employed in the industry producers have seriously: with frozen construction projects and projects "freezes" and the business of many companies. However, the recipe for survival is still There, the main thing now – time to adapt to new market conditions.

New reality The second half of 2008 brought a lull in the forced many construction sites. "Freezing" of a number of projects under construction because of lack of funding – a sad and inescapable reality. This primarily relates to commercial real estate. Difficult financial situation has forced many Russian and foreign companies to seriously reconsider their budgets, which led to a sharp drop in demand for office and retail space. As a result, many builders are not in a position today to pay off loans taken out for construction, not to mention new investment funds needed for its completion. Illustrative examples are large objects, like a tower "Russia" in the business center "Moscow City" skyscraper "Crystal" in the -Mansiysk, and many others. Obviously, the contracts and orders associated with the commercial buildings are now classified as the most risky.

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