Glasgow sporting events increase construction
Published: 24 July, 2014
More than £769m has been invested in construction contracts to get Glasgow in shape for this year’s summer of sport, with more projects still in the pipeline, new data from Barbour ABI has revealed.
Nearly half of this sum is accounted for by the 35-hectare Athletes’ Village, which is valued at £300m. A combined £217m has also been spent on the Emirates Arena (incorporating the Sir Chris Hoy Velodrome) and purpose-built SSE Hydro national arena at Pacific Quay.
The data also shows that £120m was used to regenerate existing sports facilities in Glasgow and further afield, such as a £30m refurbishment of the Grade A Listed Royal Commonwealth Pool in Edinburgh and an extension to the National Swimming Centre at Tollcross Leisure Centre, worth £15m.
Looking ahead, more than £50m of post-summer regeneration work is already in the pipeline – a huge boost to construction contractors north of the border.
Michael Dall, lead economist at Barbour ABI, said: “There is no underestimating how much work is required to get a city ready for a global sporting event, so it’s not surprising to see the huge sums of money being spent on construction contracts in and around Glasgow, both newbuild and regeneration, over the past year.
“With the Scottish economy now growing past its pre-recession levels, and our latest Economic & Construction Market Review showing that the country dominated medical and health, industrial and education construction contracts in the UK last month, the future is certainly looking bright for contractors over the coming months.”