THE construction industry was supposed to grow at 5.8 percent for 2020 as Fitch Solutions had forecasted, then comes the coronavirus disease 2019 (Covid-19) pandemic and slashed the growth down to 3.6 percent. We industry players were caught flat-footed with the sudden border shutdowns and restrictions on transport followed by a total lockdown and then silence. The stillness in the abandoned construction sites seemed surreal as everyone scampered off into the safety of their homes. After three months, the results — disrupted supply chains, delayed materials and supplies, shortage of labor, some projects put on hold, cancellations of new contracts, and legal disputes over non-payment of services rendered. Contractors and employees suffered from anxiety attacks as emergency protocols were implemented for three long months.

With the gradual lifting of the lockdown, some projects cannot fully operate yet due to lack of transport for the workers and shortage of construction materials. Delays in project turnover amplified the problem with liquidity and shrunk profit margins for the industry players. We expect slower growth and a weaker project pipeline for the entire industry.