Building Trust for Future Generations: Vitalis Consulting is an official partner of ConstructFEST 2023
One of our core values here at Vitalis is centered on our team. More than 100 extraordinary engineers and construction professionals are forming the recently recognized Best Construction Management Team in Southeastern Europe, bringing to life outstanding projects from all sectors and industries with loyalty and devotion.
Having in mind this core value and the importance of building opportunities for future generations of engineers, we were more than happy to accept the invitation to participate in the 5th edition of the ConstructFEST event, as official partners.
ConstructFEST is one of the most important European construction events designed for actual and future students, taking place at the Technical University of Civil Engineering Bucharest on 24-28 April 2023.
The event gathers some of the key actors in the Romanian Construction and Real Estate market, offering students the chance to meet companies’ representatives, learn more about job opportunities, internships, and much other important information about a future career in the Construction field.
Moreover, the participants can attend exclusive workshops and round tables with some of the most interesting topics in the market and guided tours of the university campus and laboratories.
Our stand is welcoming the students with fun activities and the opportunity to learn more about a Construction Manager’s responsibilities and tasks. Topics such as sustainability, digitalization in construction, innovative projects, and initiatives are also on the table for discussion.
This is not the first time the Vitalis team is participating in such initiatives for future construction professionals. For a few years now we are offering internships to students helping them have a solid start in their careers.
Construction works in February 2023
The volume of construction works increased, as gross series, by 34.2%, an increase reflected in maintenance and current repairs work (+56.3%), in new construction works (+30,0%) and in capital repair works (+23.2%).
By construction objects, rises were reported for non-residential buildings (+40,4%), for engineering construction works (+36,2%) and for residential building (+25,6%).
The volume of construction works increased, as adjusted series according to the number of working days and seasonality, by 3.1%, an increase reflected in maintenance and current repairs works (+15,0%), in new construction works (+2,5%) and in capital repair works (+2,4%).
By construction objects, the volume of construction works increased for non-residential buildings (+12.1%) and for engineering constructions (+8.4%). Residential buildings declined by 1.8%.
The volume of construction works increased in February 2023 compared to February 2022, as a gross series, by 10.5%. On structural elements, new construction works (+14.2%) and major repairs (+12.9%) increased. Current maintenance and repairs decreased by 0.9%.
By construction objects, engineering constructions and non-residential buildings increased by 25.1%, respectively by 2.5%. The volume of construction works in residential buildings decreased by 0.3%.
The volume of construction works increased overall, as adjusted series according to the number of working days and seasonality, by 10.8%. By structural elements, rises were recorded for new construction works (+13,8%) and for major repairs (+13,4%). Current maintenance and repairs decreased by 1.6%.
By construction objects, engineering constructions and non-residential buildings increased by 23.3%, respectively by 2.3%. The volume of construction works in residential buildings decreased by 0.5%.
Real estate owners in Romania have higher sustainability expectations than those in other countries
Building owners in Romania are much more interested in ESG standards and have higher expectations when it comes to sustainability than their counterparts in other countries. A survey by a global real estate consultancy market operator shows that the main drivers for companies to move towards ESG are regulations, such as the Paris Agreement and the Goals of UN sustainable development, rising operating costs and increasing control from owners.
According to the analysis, around 70% of respondents focused their attention on ESG in 2022, driven by external factors such as the government’s mandate for ESG strategy transparency, but also due to higher energy prices (55%). At the same time, the company’s internal policy, values, or ethics represented the top priorities for all respondents.
Concurrently, the ESG characteristics of buildings have a direct impact on real estate transactions. Reducing energy consumption weighed the most in occupants’ investment and transaction decisions (88%). Also, more than half of respondents would seek a discount or reject an offer altogether if a building did not have these features.
The data analyzed revealed a much greater emphasis on the social side from the side of the companies. Thus, in real estate decisions, proximity to public transport is important for 86% of respondents. At the same time, 52% said they would reject a building that is in the middle of a controversy.
The main challenges to implementing ESG goals are the availability or poor quality of data (53%), costs exceeding benefits, making it difficult to justify action (39%), and unknown or uncertain benefits (36%).
Investors and tenants in Romania appear to have higher expectations regarding the environmental characteristics of the building than their counterparts in other countries, according to CBRE’s survey of 20 building owners in Romania.