2021 Construction Projects Reflect Optimism

This may be the year data center construction projects make headlines, but what about companies that were hard-hit by last year’s pandemic? Some companies’ construction projects crashed and burned. Others stalled out but eventually continued as-planned with a new completion time.

Without a doubt, some nonresidential building sectors have been hit harder than others by the COVID-19 pandemic. –Joe Bousquin

Down, Not Out

No industry was hit as hard as office spaces or hospitality and lodging; it may take years for a full recovery. But here are some construction projects that continued through 2020 despite being hard-hit:

• citizenM – Dutch hotel chain opened two sites last year and is currently working in Boston and Washington, D.C.
• CoverMyMeds – This $240 million healthcare office development pushed construction through the pandemic and is scheduled to open in spring 2021. Touchless systems, air scrubbers, and air quality sensors are some of the features.
• IHG Hotels & Resorts – A Miami site was announced in November 2020; currently, 20 properties are in development.

2021 International Projects To Watch

The construction industry will strive to put economic uncertainties behind us while we make optimistic projections for the future. There’s a lot going on in the U.S. that bears watching, but here are some high-profile international projects:

• Al-Zour mega-refinery – Texas company Fluor teams with Daewoo Engineering and Hyundai Heavy Industries on this $16 billion refinery in Kuwait. It’s predicted to be one of the largest refineries in the world.
• Hong Kong International Airport – UK’s Balfour Beatty is constructing a $1.6 billion airport expansion.
• P180 office building – Skanska of Sweden is working on this $94 million Warsaw, Poland, project, scheduled for 2022 completion.
• Victoria Cross Tower – Lendlease has several North American construction projects in-the-works but this $1.2 billion development is “home” in Sydney, Australia.

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