Morgan Sindall: Demand for Office Space Eases Government Cuts
UK construction and regeneration group Morgan Sindall has claimed that growing demand for office space, particularly in London, is helping to offset the impact of government spending cuts.
However, the construction industry is reportedly still in a recession period.
“The commercial side is growing, but let’s not over exaggerate – it’s growing a bit but not as quickly as governments are spending less,” said executive chairman John Morgan.
Public sector contracts for this year have reportedly dropped by 10%, with a further 10% decrease expected.
“Our figures came in as expected,” said Morgan. “Conditions are difficult out there but we have done better than most because of our size and expertise.”
In other parts of the business, he commented that the firm are seeing “a lot of new opportunities”, adding: “The future is about hard graft for the next couple of years and improving market share.”