On the retail front , where digitisation has been felt acutely , the move away from brick-and-mortar retail into the e-commerce space has necessitated a new way of thinking about the spatial needs of civil society and what this means for construction .
In healthcare , an industry in which there has been a definitive upswing lies a myriad of opportunities to innovate and devise new ways of finding solutions that can be solved by the construction industry . The increased demand for products in the pharmaceutical , technological and logistical sectors could also provide the construction industry with the boost it needs to regain its pre-COVID stature as an essential contributor to the GDP of the country .
Labour-related issues will continue to come under close scrutiny with the risk of community unrest and tension still bubbling under the surface . Taking a proactive stance to managing these issues will become the key to minimising disruption and maintaining stable profit margins .
In terms of emerging technology and its rapid rate of advancement , the increasing risk of cyber-attacks and the resulting loss of intellectual property will mean that construction companies need to keep a key eye on cyber security . The use of new technologies such as BIM modelling and the use of drones will provide the potential to enhance efficiency across the board .
Overall , the major challenge that firms across the sector will face relate to the selection , pricing and execution of projects in the most efficient and profitable way possible , within a relatively unstable global climate .
Mark Snow Audit Partner Mazars
SA Real Estate Investor Magazine JUNE 2022 69