Scotland’s construction industry is looking brighter than ever with the value of Scottish contracts accumulating to £6.8 billion over the last year

As we come into the new year, Scotland’s economy is showing continued signs of growth, and as a result, so is its construction industry. From July 2013 to July 2014, Scotland held 11% of the value of contracts awarded in Great Britain, making it the third highest in the country after London and the South West of England. The value of Scottish contracts accumulated to a staggering £6.8 billion, highlighting the future prospects within the industry.

Several new projects are under way such as the Aberdeen Western Peripheral route, easing the high levels of traffic congestion in the North East region. In an interview for the Evening Express Transport Minister, Keith Brown said:

“Over the next three decades, our investment in the Aberdeen Western Peripheral Route project is expected to bring in an additional £6 billion to the local economy and create around 14,000 new jobs.”

High levels of investment and return are present within Scotland’s current projects, strengthening the outlook of the country’s construction industry. The Edinburgh Glasgow Improvements Programme (EGIP), a £650m project currently being delivered, aims to improve Scotland’s railway structure. The project states “The project will provide significant economic, social and environmental benefits for Scotland.” David Dickson, High Network Rail route managing director for Scotland, said in an EGIP report “Rail travel in Scotland is more popular now than ever before and the network is set to benefit from over £4bn of investment during the next five years.”

Further investments are underway within the Scottish Government’s Help To Buy scheme which has a budget of £140m for the financial year of 2014-2015, financially assisting individuals with the process of home buying. The Scottish Government states that “A strong and growing house-building industry is key to Scotland’s future economic prosperity.”

The scheme has been very successful, so much so that Scotland’s First Minister Nicola Sturgeon announced an additional £50m would be added to the scheme’s budget in May 2014.

Upholding the Government’s statement of an economic prosperity in Scotland, The Construction Monitor reported a record high figure of promise within the construction industry. 55.8% of respondents stated they were more confident about the next 12 months in comparison to 42.1% in the previous quarter; the highest figure since 2008.

At such at an exciting time in Scotland, Oliver Kinross are delighted to be hosting the first Scotland Build 2015 on the 25th & 26th November 2015 at Glasgow’s Scottish Exhibition and Conference Centre (SECC) in the heart of the city. The event will boast more than 10,000 quality attendees and over 175 exhibitors.

Glasgow is one of the UK’s most up and coming cities, and particularly since its success with the Commonwealth Games last year, it’s increasingly recognised as one of Europe’s most vibrant and diverse cities, perfect for the launch of a new and dynamic event. The event was created on the back of the success of the London Build 2015 event which will take place on the 18th & 19th June at the O2, London.

Registration for Scotland Build 2015 is free and now open online.