Figures compiled by Construction Magazine for its annual Top 50 listing show that turnover in Ireland’s leading construction contractors grew by €1 billion across a 12-month period, as global demand for Irish construction continues to increase strongly.
Construction Magazine’s Top 50 Contractors 2017 shows a marked increase in the activity of Irish contractors both nationally and internationally, with many contractors engaged in major projects around the globe for international companies such as Google, Amazon, BMS, and Facebook.
CIF director general, Tom Parlon, said: “The top 50 Irish contractors play a critical role in Ireland’s economy. Simply put, they are an essential factor in attracting foreign direct investment (FDI ) into Ireland. The 200,000 or so jobs supported by FDI in Ireland are entirely contingent on these companies’ expertise and competence.
“Further to this, 70 per cent of all FDI in Ireland is established multinationals expanding their footprint. Again, this is facilitated by our industry’s ability to deliver cutting-edge construction solutions. It’s no accident that Ireland is becoming a destination for data centre production for the world’s leading technology companies as our contractors have developed expertise in this area; so much so they are often recruited by international companies for other major projects within their global network.
“Irish construction companies are now globally pre-eminent in project management, electrical, specialist and pre-cast production, so much so that the UK authorities recently have sought to recruit Irish companies to help construct one of Europe’s largest mega-project - the rail-line connecting London to Manchester and beyond: High Speed 2.”
In the residential sector, activity is increasing. According to data from CIS Ireland, the number of residential developments that commenced onsite in Ireland in the first quarter of 2017 has increased by 34.6 per cent on the same period in 2016.
For more details on Construction Magazine’s Top 50 CIF Contractors see www.cif.ie/news