Practical strategies for managing construction cost escalation
Practical strategies to manage construction cost escalation
Three pragmatic strategies
Property development has a long, often painful, history of cost escalation. As real estate development projects become larger and more complex, and the time between planning and completion extends, the more cost escalation will continue to be a significant risk to profitability.
This issue has become more pressing as a result of the impact of the pandemic on supply chains, cross-border trade, access to materials, labour availability and scheduling. COVID 19 has introduced greater challenges to estimating and forecasting changes in construction costs.
While construction cost escalation will always be an issue, this ebook sets out three pragmatic strategies that can help to effectively address this challenge today and protect the profitability of your real estate projects in the long term.