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News Release from: MTW Research | Subject: Commonwealth boost for Scotland construction
Edited by the Buildingtalk Editorial
Team on 29 January 2008
Commonwealth boost for Scotland
construction
Report published by MTW Research says Glasgow hosting 2014 Commonwealth Games could add more than GBP3 billion to expenditure on construction and refurbishment in the area..
A new, independent report published by construction research specialist MTW Research has found that the recent successful bid by Glasgow to host the 2014 Commonwealth Games is likely to result in more than GBP3 billion of expenditure on private and public construction and refurbishment in the area between now and 2014 The potential market for building products suppliers, contractors and other companies is substantial and likely to grow significantly until 2010, though high levels of public and private investment will sustain a strong demand in the market until at least 2014
This article was originally published on Buildingtalk on 29 Jan 2008 at 8.00am (UK)
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Many of the plans for the new venues in Glasgow will be published in the OJEU (Official Journal for the European Union) in the next few months and companies will need to react quickly if they are to establish a meaningful presence in this market.
MTW's detailed report, which is available to purchase for GBP450, reviews the venues and profiles for each project with spending plans and timescales provided.
The report also quantifies the level of RMI and new build activity by hotels in Glasgow to 2014, as well as reviewing the existing planned transport infrastructure developments to 2014 which are likely now to be linked more closely with the Games.
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Spending on these sectors will average almost GBP400 million per year until 2014.
The Athletes Village will be the centrepiece of the Games, accommodating more than 8,000 athletes and officials.
This new build project, currently budgeted at more than GBP245 million, will include a cinema, retail outlets, restaurants, a gymnasium and fitness centre as well as the accommodation units.
Legacy plans are for the units to be converted to 1-4 bedroom homes which will be sold over a phased period for both public and private housing.
Whilst the invitations to tender have not yet been published, MTW has also identified some key contractors and architectural practices which are likely to be involved in the construction and RMI activity for the Glasgow Games in 2014.
This being of particular relevance for manufacturers and sub contractors seeking to take advantage of the construction activity leading to the Games in 2014.
In terms of specification and procurement, MTW Research found that sustainability and environmental considerations are likely to be of significance for the 'car free' Games, with the Athletes Village making full use of its location next to the River Clyde, adoption of WRAP's recycled material content in construction recommendations; and low or zero carbon output living being just some examples included in MTW's report.
Following sustained growth in turnover by many of the larger contractors in recent years, the announcement of the Glasgow Commonwealth Games in 2014 should continue to drive demand for building products and construction related services in the medium to longer term, further buoying overall optimism in the construction industry.
For more information on this report, priced at GBP450, view the full details and download the free sample via the website.
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