What types of project are currently attracting the most investment in your jurisdiction (e.g. infrastructure, power, commercial property, offshore)?
Infrastructure projects are currently attracting the most investment in Norway today. The Norwegian government has decided in the national transport plan that significant funds will be invested in infrastructure over the next years, mainly roads and railroads.
There will also be major investments in the power industry.
Sweden has a severe shortage of affordable housing. Swedish public infrastructure (such as the railway sector) also needs significant investments in the coming years. For example, unlike many other Western countries, Sweden is lacking a modern high-speed rail network.
Government spending on infrastructure remains one of the key drivers for the construction industry in Hong Kong, with a significant number of large-scale projects underway. These include the Hong Kong-Zhuhai-Macau Bridge, the Guangzhou-Shenzhen-Hong Kong Express Rail Link, the Hong Kong International Airport third runway, the Tuen Mun-Chek Lap Kok road link, the Central Kowloon Route highway and the Sha Tin to Central MTR link.
Hong Kong has been the subject of consistently high private sector investment in commercial and residential property for many years, with some of the world’s highest rents per square metre for office and residential space. This has driven the development of numerous commercial and residential projects across Hong Kong.
In addition, Hong Kong is seeing significant investment in projects in the culture, leisure and sport sector, with West Kowloon Cultural District, Kai Tak Sports Park and Airport City among the most high-profile of these.
Currently infrastructure projects are attracting the most investment. In transport, these include Crossrail 2, the High Speed 2 rail link between London and the West Midlands, and a programme of major road improvements (with regional transport projects supported by government programmes such as the Northern Powerhouse and the Transforming Cities Fund). In power we are seeing increasing investment in renewable energy and several new nuclear projects (including Hinkley Point), while in housing the government has set an optimistic target for housebuilders to build 220,000 new homes a year. Government investment via the National Infrastructure and Construction Pipeline is expected to be £600bn over the next 10 years.
London’s commercial property market remains strong, attracting investment from overseas investors and serviced office providers.
Despite this, due to the challenges identified above, industry confidence and growth remains sluggish.
Industrial and power projects continue to attract significant investment in the United States. This is particularly true as regulations and legal standards applicable to power generation and industrial regulation continue to be relaxed. In addition, we anticipate a major upswing in infrastructure projects. This is particularly true as state and federal governments increasingly turn to public private partnerships (P3) as a method for financing and delivering major U.S. projects. The Trump Administration and the U.S. Congress also state that there will be a major federal investment in infrastructure in the next couple of years. If a law is passed providing large sources of federal dollars for infrastructure projects, we anticipate that we will see a major increase in road, bridge, and transportation projects in the United States.
The infrastructure projects are currently attracting the most investment locally.