Published on : Oct 01, 2014
The construction activity around the Birmingham metro area has been an upward trend in the past two months. According to a data published by McGraw Hill Construction, the construction contracts for the month of August in the Birmingham metro area grew remarkably.
The residential contracts neared US$88 million, which is a 94% hike over last year in August, which estimated contracts only worth US$45 million. On the other hand, the nonresidential contracts amounted to US$98 million, which is a year-on-year rise of 28%, when compared to contracts worth US$69.8 million in 2013.
The total building area, inclusive of Walker, St. Clair, Jefferson, Chilton, Blount, and Bibb counties totaled to US$186 million which is up by 39% in 2014 as compared to contracts worth US$73 million in 2013.
In a span of a year, Birmingham has experienced an 83% increase in nonresidential construction which is currently valued at US$346 million. Meanwhile, residential construction hike neared 12% in the same period. Between 2013 and 2014, the construction has increased by 33% in all the seven counties. It is presently valued at US$867.9 million.
Though Alabama State has suffered a loss in most sectors, the residential sector in the state grew by 34% in terms of revenue, as contracts for housing projects totaled US$318 million this year. However, the nonresidential contracts dipped by 58% from US$426 million in August 2013 to a mere $179 million in August 2014. The non-building contracts reported a plunge of 5% from in over a year ending August 2014.