Over £30bn worth of construction underway in the capital
Posted on Monday, June 11th, 2018
Over £30bn worth of construction projects are underway in Greater London this year according to a major study by the Construction Industry Training Board (CITB).
The research, carried out for the Greater London Authority to inform London’s new Construction Academy Scheme, shows a booming market with the greatest activity in housing, private commercial developments, public non-housing and infrastructure.
Alongside major infrastructure projects such as HS2 and Thames Tideway, there are over 700 big projects scheduled so far planned up to 2020. They include a £26bn housing and commercial development in Hammersmith & Fulham, a £10bn housing development in Islington and a £3bn Town Centre Regeneration in Newham.
The report suggests the total level of new construction activity each year to 2020 will be similar to the £30bn for 2017 once all projects are confirmed. It also identifies any potential skills gaps in the capital and examines the construction training on offer across the city.
Occupations with the greatest risk of a shortfall include plant mechanics/fitters, scaffolders and bricklayers, steel erectors and roofers. However, London’s tradition of drawing workers in from other regions such as the South East is expected to help reduce skills pressures considerably.
Janette Welton-Pai, Partnerships Manager, CITB said: “This research provides the insights we need to develop a strategic skills plan for construction in London. The overview of activity will be very useful for the industry and we will be working closely with the new Skills for Londoners taskforce alongside the London Economic Action Partnership and the Greater London Authority to progress this.
“While it remains unclear how Brexit might impact the workforce, as an industry we need to look closely at training and development across Greater London to minimise risk. The new Construction Academy announced recently will help grow the skills base that’s critical to the success of construction in the capital.”