With 2020 throwing entire economies into a spin, the big question has been focused on how we will be able to restart what has been greatly broken by COVID-19 and the accompanying lockdowns.
But while the media is keen on spelling out tales of doom and gloom, the truth is that many construction giants are saying that the reports of the construction industry meeting an untimely end are simply over exaggerated, and basically bogus.
The construction industry in South Africa is nowhere near being wiped out despite the financial loses and the delisting of many companies from the Johannesburg Stock Exchange. Like everything in life, and like all industries suffering from the lockdown, things are indeed looking bad right now, but the current trend is certainly going to shift and things will get better as they always do after bad times.
And through the economic and industry down turn, there is another silver lining. When faced with unprecedented times, people and companies tend to thrive in South Africa as new opportunities arise and people are forced to be innovative in order to adjust to new issues.
Just because many of the nation’s top construction companies have experienced massive loses and in some cases have had to downscale the size of their companies, there is still a lot of knowledge and experience attached to the industry still waiting to be used.
As the economy, both the international and the local economy, begin to grow once more, South Africa will still have everything necessary to get back to business and take on those mammoth projects that were easily completed in the past.
The reason why the industry is certainly going to pick up again has to do with the fact that in the near future there is most certainly going to be a need for construction once more. Both development and maintenance will still be needed by various industries and so construction for both the government and public enterprises won’t be down for long.
The construction industry can also look forward to various technological advancements and more input from the emerging sector when the industry is back in full swing.
At the moment, we are all living in a new reality, and the construction industry, just like all of the others, is going to take some time to shift and stabilise once more. Construction is an essential aspect of any country and no economy can do without development of this kind for very long.
Construction companies around South Africa have been bracing for the economic impact and the job losses which are inevitable part of a nationwide shutdown. But instead of the doomsday talk that we’re seeing in the media, some of South Africa’s biggest construction companies have a lot of hope for the near future.