‘The only way is up’, as construction market sees largest growth in EU
Poland had the largest growth in the construction market in the EU between July and August this year, according to Eurostat.
The report shows that the sector grew by two percent compared to the EU average which saw a 0.5 percent decline.
This growth halted a five month slide in the value of the construction sector in Poland.
Sweden was the only other EU country to register over one percent growth in the period and like Poland had suffered a contraction over the previous five months.
Hungary registered the largest decline in the construction sector with a 10.5 percent dip in the market.
Andrzej Adamczyk, Minister of Infrastructure said: “Poland may soon reach fourth place in the EU for the number of highways and expressways.
“This means that we are beginning to have a network of the most modern roads in Europe.
“They are above all safe and they are predictable. They are a kind of development engine for each of the regions.”
Poland is currently in fifth place when it comes to the number of highways and expressways.
Market analysis firm Spectis has predicted that in 2020 the value of the construction market in Poland may reach a record level of 250 billion PLN.
The increase will likely be fuelled by the rising cost of wages in Poland but there are an estimated 320 billion PLN worth of projects at the tender or planning stage.
The Mazowieckie and Pomeranian voivodeships are leading the investments with each planning projects totaling about 50 billion PLN.
Mazowieckie’s largest investments are planned in transport infrastructure whereas the Pomeranian region has large projects in energy construction and water structures.