Tuesday, 03 September 2019 11:37

SA’s GDP grows by 3.1% in second quarter

South Africa’s gross domestic product increased by 3.1% in the second quarter of 2019, Statistician General Risenga Maluleke revealed on Tuesday.

Despite the headwinds facing the world economy, the global construction sector entered 2019 with significant momentum, having seen growth of five percent in 2018.

A group of construction industry stakeholders has urged the industry to return to basics in order to overcome its current challenges successfully.

Growthpoint Properties’ multi-million-rand 144 Oxford Road development is set for completion in October 2019, establishing a new landmark office address in Rosebank with a uniquely elastic design that supports modern businesses to thrive and evolve.

News of yet another principal contractor entering business rescue with tens of millions in debt puts scores of sub-contractors at risk, says MBA North.

Climate change is a trending topic that is gaining momentum. With movements like 16-year old Greta Thunberg’s Fridays for the Future gaining notoriety this is something that we need to address.

The Master Builders Association (MBA) North says that the continuing trend of main contractors delaying payment of their sub-contractors – or defaulting altogether – is a symptom of the deteriorating health of the construction industry.

Thavhani City, the major economic centre in Thohoyandou, Limpopo, has welcomed the opening of the first Builders Express in the region in its precinct.

The announcement on the 15 June 2018 that Basil Read Construction is applying for business rescue is a clear indication of the critical state of the construction industry, says Mohau Mphomela, Executive Director, Master Builders Association North.

The gazetting of an amended Code of Good Practice on Broad-Based Black Economic Empowerment (BBBEE) specifically for the construction industry on 2 November 2017 opens up new opportunities for the industry, says Kwakho Mpepho, Education, Training and Transformation Manager at the Master Builders Association North.

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