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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania’s construction sector keeps growing on repair and maintenance

The construction works volume index in Romania rose by 12.3% in August, compared to the same period last year. However, the works on new projects (new constructions) edged up by only 1.2%.

The robust annual growth was driven by more capital repairs works (+67% year-on-year) and maintenance works (+27% yoy).

The pattern has been visible since April - the first full month under the state of emergency, which allowed landlords to carry such capital repairs works in the buildings left empty.

At the same time, the slow increase in works on new projects reflects operational problems caused by the lockdown and a more cautious approach from investors, some of whom have reconsidered their projects in the sectors of offices and retail buildings.

For the entire March-August period, the volume of works on new construction projects increased by 2.3% compared to the same period last year. In contrast, the volume of capital repair works surged by 55% yoy, and the maintenance works rose by 40% yoy.

By type of construction, civil engineering (mostly infrastructure) works slowed down since June to +4.2% yoy in August. For the entire March-August period, the slower growth was in the non-residential buildings sector (+8.1% yoy).

[email protected]

(Photo source: Pixabay.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania’s construction sector keeps growing on repair and maintenance

The construction works volume index in Romania rose by 12.3% in August, compared to the same period last year. However, the works on new projects (new constructions) edged up by only 1.2%.

The robust annual growth was driven by more capital repairs works (+67% year-on-year) and maintenance works (+27% yoy).

The pattern has been visible since April - the first full month under the state of emergency, which allowed landlords to carry such capital repairs works in the buildings left empty.

At the same time, the slow increase in works on new projects reflects operational problems caused by the lockdown and a more cautious approach from investors, some of whom have reconsidered their projects in the sectors of offices and retail buildings.

For the entire March-August period, the volume of works on new construction projects increased by 2.3% compared to the same period last year. In contrast, the volume of capital repair works surged by 55% yoy, and the maintenance works rose by 40% yoy.

By type of construction, civil engineering (mostly infrastructure) works slowed down since June to +4.2% yoy in August. For the entire March-August period, the slower growth was in the non-residential buildings sector (+8.1% yoy).

[email protected]

(Photo source: Pixabay.com)

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