Thailand Construction

After a slowdown in infrastructure development in recent years, Thailand’s construction industry now looks set to benefit from a major economic support programme aimed at boosting the country’s competitiveness.

Thailand’s green building and energy efficiency construction sector, which may need BT400bn ($13bn) in spending over the next two decades, is looking toward better certification standards and government incentives to drive growth. Figures released by the Department of Alternative Energy Development and Efficiency (DEDE) show that BT216bn ($7bn) was spent on energy efficiency between 2003 and 2011, highlighting the growing awareness of sustainability and conservation within Thailand in recent years.

Thailand’s construction sector looks set for an increasingly busy time leading into next year, with the new government committed to ramping up infrastructure and housing projects, though the industry is still wary that rising materials costs and higher wages could weaken growth.

With fresh incentives attracting multinationals to locate in Bangkok, the capital is getting ready to adopt the next generation of building standards. Smart money these days is on environmentally conscious “green building” that combines cost-efficiency, social responsibility and productivity gains.