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Construction in Greece - Key Trends and Opportunities to 2019

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Date: 30-Sep-2015
No. of pages: 75
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Synopsis

In real terms, the Greek construction industry suffered a sharp decline in the wake of the financial crisis, contracting by 76.4% between 2008 and 2014. This decline reflects the sharp contraction in the country's economy amid the wider financial crisis in the eurozone region.

The deterioration in the government's finances, alongside weak business confidence and consumer demand greatly affected demand for construction activity during the review period (2010-2014).

Growth prospects are also limited over the forecast period (2014-2019), owing to a weak property market, subdued public spending and lack of investor confidence. The latest round of elections in September 2015, which resulted in a victory for the incumbent Syriza government, has at least brought about some stability in the political environment.

In real terms, the industry's output value registered a compound annual growth rate (CAGR) of -25.35% during the review period. Over the forecast period the contraction will be at a slower pace, at a CAGR of -1.98%.

Summary

Timetric's Construction in Greece - Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into the Greek construction industry including:


  • The Greek construction industry's growth prospects by market, project type and type of construction activity

  • Analysis of equipment, material and service costs for each project type in Greece

  • Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Greek construction industry

  • Profiles of the leading operators in the Greek construction industry.

  • Data highlights of the largest construction projects in Greece


Scope

This report provides a comprehensive analysis of the construction industry in Greece. It provides:


  • Historical (2010-2014) and forecast (2015-2019) valuations of the construction industry in Greece using construction output and value-add methods

  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type

  • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

  • Analysis of key construction industry issues, including regulation, cost management, funding and pricing

  • Detailed profiles of the leading construction companies in Greece


Reasons To Buy


  • Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies

  • Assess market growth potential at a micro-level with over 600 time-series data forecasts

  • Understand the latest industry and market trends

  • Formulate and validate business strategies using Timetric's critical and actionable insight

  • Assess business risks, including cost, regulatory and competitive pressures

  • Evaluate competitive risk and success factors


Key Highlights


  • In order to improve the country's transport facilities, the European Investment Bank (EIB) has approved EUR815.0 million (US$1.05 billion) for the development of the country's transportation infrastructure. This amount is to be invested in the construction of 239km of new highways, and the renovation of 434km of motorway road on the Patras-Athens-Thessaloniki transport corridor. This financial aid by the EIB will help construction activity for the infrastructure market over the forecast period.

  • In June 2015, Greece became the first developing country to default on a loan repayment to the International Monetary Fund (IMF). In subsequent negotiations, a number of austerity measures were imposed by the European Union (EU) as a pre-condition for a third bailout package. These conditions will continue to undermine growth prospects in the industry. A decline in manufacturing confidence and weak export demand is also expected to hamper growth.

  • To improve the depressed housing market, the government approved residence permits for non-EU citizens in 2013, as also adopted by Spain and Portugal. These permits will be offered to non-EU citizens who invest EUR250.0 million (US$326.0 million) in property. The permit will be valid for five years and open for renewal until the holder possesses the property. This initiative is likely to attract foreign investments in the housing market, supporting the residential construction market over the forecast period.

  • In July 2015, Greece announced its alliance with Russia for the development of the Turkish stream line project called as Trans Adriatic Pipeline (TAP) in the country. The project is aimed at enhancing the security of supply and diversifying gas supplies for the European markets. The project is expected to start in 2016 and be completed by 2020.

  • In order to develop the country's transportation infrastructure, the government is investing in various railway infrastructure development projects, such as the construction of a 19.4km long underground public transport system in Thessaloniki. The project is scheduled for completion in 2018. Another major investment includes the construction of the Attiko metro line in Athens, which is expected to be completed by 2026.

Construction in Greece - Key Trends and Opportunities to 2019

Table of Contents

1 Executive Summary

2 Industry Outlook
2.1 Commercial Construction
2.2 Industrial Construction
2.3 Infrastructure Construction
2.4 Energy and Utilities Construction
2.5 Institutional Construction
2.6 Residential Construction

3 Key Issues and Developments

4 Market Data Analysis
4.1 Construction Output and Value Add
4.1.1 Construction output by project type
4.1.2 Construction output by cost type
4.1.3 Construction output by activity type
4.1.4 Construction value add by project type
4.2 Commercial Construction
4.2.1 Commercial construction output by project type
4.2.2 Commercial construction output by cost type
4.2.3 Commercial construction output by activity type
4.2.4 Commercial construction value add by project type
4.3 Industrial Construction
4.3.1 Industrial construction output by project type
4.3.2 Industrial construction output by cost type
4.3.3 Industrial construction output by activity type
4.3.4 Industrial construction value add by project type
4.4 Infrastructure Construction
4.4.1 Infrastructure construction output by project type
4.4.2 Infrastructure construction output by cost type
4.4.3 Infrastructure construction output by activity type
4.4.4 Infrastructure construction value add by project type
4.5 Energy and Utilities Construction
4.5.1 Energy and utilities construction output by project type
4.5.2 Energy and utilities construction output by cost type
4.5.3 Energy and utilities construction output by activity type
4.5.4 Energy and utilities construction value add by project type
4.6 Institutional Construction
4.6.1 Institutional construction output by project type
4.6.2 Institutional construction output by cost type
4.6.3 Institutional construction output by activity type
4.6.4 Institutional construction value add by project type
4.7 Residential Construction
4.7.1 Residential construction output by project type
4.7.2 Residential construction output by cost type
4.7.3 Residential construction output by activity type
4.7.4 Residential construction value add by project type

5 Company Profile: Consolidated Contractors Company
5.1 Consolidated Contractors Company - Company Overview
5.2 Consolidated Contractors Company - Business Description
5.3 Consolidated Contractors Company - Main Services
5.4 Consolidated Contractors Company - History
5.5 Consolidated Contractors Company - Company Information
5.5.1 Consolidated Contractors Company - key competitors
5.5.2 Consolidated Contractors Company - key employees

6 Company Profile: Ellaktor S.A.
6.1 Ellaktor SA - Company Overview
6.2 Ellaktor SA - Business Description
6.3 Ellaktor SA - Main Services
6.4 Ellaktor SA - History
6.5 Ellaktor SA - Company Information
6.5.1 Ellaktor SA - key competitors
6.5.2 Ellaktor SA - key employees

7 Company Profile: GEK TERNA Group of Companies
7.1 GEK TERNA Group of Companies - Company Overview
7.2 GEK TERNA Group of Companies - Main Services
7.3 GEK TERNA Group of Companies - History
7.4 GEK TERNA Group of Companies - Company Information
7.4.1 GEK TERNA Group of Companies - key competitors
7.4.2 GEK TERNA Group of Companies - key employees

8 Company Profile: METKA SA
8.1 METKA SA - Company Overview
8.2 METKA SA - Main Products and Services
8.3 METKA SA - History
8.4 METKA SA - Company Information
8.4.1 METKA SA - key competitors
8.4.2 METKA SA - key employees

9 Company Profile: J&P - Avax SA
9.1 J&P - Avax SA - Company Overview
9.2 J&P - Avax SA - Business Description
9.3 J&P - Avax SA - Main Products and Services
9.4 J&P - Avax SA - History
9.5 J&P - Avax SA - Company Information
9.5.1 J&P - Avax SA - key competitors
9.5.2 J&P - Avax SA - key employees

10 Appendix
10.1 What is this Report About?
10.2 Definitions
10.3 Methodology
10.4 Contact Timetric
10.5 About Timetric
10.6 Timetric's Services
10.7 Disclaimer

List of Tables

Table 1: Greek Construction Output by Project Type (EUR Million), 2010-2014
Table 2: Greek Construction Output by Project Type (EUR Million), 2014-2019
Table 3: Greek Construction Output by Cost Type (EUR Million), 2010-2014
Table 4: Greek Construction Output by Cost Type (EUR Million), 2014-2019
Table 5: Greek Construction Output by Activity Type (EUR Million), 2010-2014
Table 6: Greek Construction Output by Activity Type (EUR Million), 2014-2019
Table 7: Greek Construction Value Add by Project Type (EUR Million), 2010-2014
Table 8: Greek Construction Value Add by Project Type (EUR Million), 2014-2019
Table 9: Greek Commercial Construction Output by Project Type (EUR Million), 2010-2014
Table 10: Greek Commercial Construction Output by Project Type (EUR Million), 2014-2019
Table 11: Greek Commercial Construction Output by Cost Type (EUR Million), 2010-2014
Table 12: Greek Commercial Construction Output by Cost Type (EUR Million), 2014-2019
Table 13: Greek Commercial Construction Output by Activity Type (EUR Million), 2010-2014
Table 14: Greek Commercial Construction Output by Activity Type (EUR Million), 2014-2019
Table 15: Greek Commercial Construction Value Add by Project Type (EUR Million), 2010-2014
Table 16: Greek Commercial Construction Value Add by Project Type (EUR Million), 2014-2019
Table 17: Greek Industrial Construction Output by Project Type (EUR Million), 2010-2014
Table 18: Greek Industrial Construction Output by Project Type (EUR Million), 2014-2019
Table 19: Greek Industrial Construction Output by Cost Type (EUR Million), 2010-2014
Table 20: Greek Industrial Construction Output by Cost Type (EUR Million), 2014-2019
Table 21: Greek Industrial Construction Output by Activity Type (EUR Million), 2010-2014
Table 22: Greek Industrial Construction Output by Activity Type (EUR Million), 2014-2019
Table 23: Greek Industrial Construction Value Add by Project Type (EUR Million), 2010-2014
Table 24: Greek Industrial Construction Value Add by Project Type (EUR Million), 2014-2019
Table 25: Greek Infrastructure Construction Output by Project Type (EUR Million), 2010-2014
Table 26: Greek Infrastructure Construction Output by Project Type (EUR Million), 2014-2019
Table 27: Greek Infrastructure Construction Output by Cost Type (EUR Million), 2010-2014
Table 28: Greek Infrastructure Construction Output by Cost Type (EUR Million), 2014-2019
Table 29: Greek Infrastructure Construction Output by Activity Type (EUR Million), 2010-2014
Table 30: Greek Infrastructure Construction Output by Activity Type (EUR Million), 2014-2019
Table 31: Greek Infrastructure Construction Value Add by Project Type (EUR Million), 2010-2014
Table 32: Greek Infrastructure Construction Value Add by Project Type (EUR Million), 2014-2019
Table 33: Greek Energy and Utilities Construction Output by Project Type (EUR Million), 2010-2014
Table 34: Greek Energy and Utilities Construction Output by Project Type (EUR Million), 2014-2019
Table 35: Greek Energy and Utilities Construction Output by Cost Type (EUR Million), 2010-2014
Table 36: Greek Energy and Utilities Construction Output by Cost Type (EUR Million), 2014-2019
Table 37: Greek Energy and Utilities Construction Output by Activity Type (EUR Million), 2010-2014
Table 38: Greek Energy and Utilities Construction Output by Activity Type (EUR Million), 2014-2019
Table 39: Greek Energy and Utilities Construction Value Add by Project Type (EUR Million), 2010-2014
Table 40: Greek Energy and Utilities Construction Value Add by Project Type (EUR Million), 2014-2019
Table 41: Greek Institutional Construction Output by Project Type (EUR Million), 2010-2014
Table 42: Greek Institutional Construction Output by Project Type (EUR Million), 2014-2019
Table 43: Greek Institutional Construction Output by Cost Type (EUR Million), 2010-2014
Table 44: Greek Institutional Construction Output by Cost Type (EUR Million), 2014-2019
Table 45: Greek Institutional Construction Output by Activity Type (EUR Million), 2010-2014
Table 46: Greek Institutional Construction Output by Activity Type (EUR Million), 2014-2019
Table 47: Greek Institutional Construction Value Add by Project Type (EUR Million), 2010-2014
Table 48: Greek Institutional Construction Value Add by Project Type (EUR Million), 2014-2019
Table 49: Greek Residential Construction Output by Project Type (EUR Million), 2010-2014
Table 50: Greek Residential Construction Output by Project Type (EUR Million), 2014-2019
Table 51: Greek Residential Construction Output by Cost Type (EUR Million), 2010-2014
Table 52: Greek Residential Construction Output by Cost Type (EUR Million), 2014-2019
Table 53: Greek Residential Construction Output by Activity Type (EUR Million), 2010-2014
Table 54: Greek Residential Construction Output by Activity Type (EUR Million), 2014-2019
Table 55: Greek Residential Construction Value Add by Project Type (EUR Million), 2010-2014
Table 56: Greek Residential Construction Value Add by Project Type (EUR Million), 2014-2019
Table 57: Consolidated Contractors Company, Key Facts
Table 58: Consolidated Contractors Company, Main Services
Table 59: Consolidated Contractors Company, History
Table 60: Consolidated Contractors Company, Key Employees
Table 61: Ellaktor SA, Key Facts
Table 62: Ellaktor SA, Main Services
Table 63: Ellaktor SA, History
Table 64: Ellaktor SA, Key Employees
Table 65: GEK TERNA Group of Companies, Key Facts
Table 66: GEK TERNA Group of Companies, Main Services
Table 67: GEK TERNA Group of Companies, History
Table 68: GEK TERNA Group of Companies, Key Employees
Table 69: METKA SA, Key Facts
Table 70: METKA SA, Main Products and Services
Table 71: METKA SA, History
Table 72: METKA SA, Key Employees
Table 73: J&P - Avax SA, Key Facts
Table 74: J&P - Avax SA, Main Products and Services
Table 75: J&P - Avax SA, History
Table 76: J&P - Avax SA, Key Employees
Table 77: Timetric Construction Market Definitions

List of Figures

Figure 1: Greek Construction Output (Real US$ 2010, Million), 2010-2019
Figure 2: Growth Matrix for Construction Output in Greece (US$ Million), 2010-2019
Figure 3: Greek Construction Output by Project Type (EUR Million), 2010-2019
Figure 4: Greek Construction Output by Cost Type (EUR Million), 2010-2019
Figure 5: Greek Construction Output by Activity Type (EUR Million), 2010-2019
Figure 6: Greek Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 7: Greek Commercial Construction Output by Project Type (EUR Million), 2010-2019
Figure 8: Greek Commercial Construction Output by Cost Type (EUR Million), 2010-2019
Figure 9: Greek Commercial Construction Output by Activity Type (EUR Million), 2010-2019
Figure 10: Greek Commercial Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 11: Greek Industrial Construction Output by Project Type (EUR Million), 2010-2019
Figure 12: Greek Industrial Construction Output by Cost Type (EUR Million), 2010-2019
Figure 13: Greek Industrial Construction Output by Activity Type (EUR Million), 2010-2019
Figure 14: Greek Industrial Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 15: Greek Infrastructure Construction Output by Project Type (EUR Million), 2010-2019
Figure 16: Greek Infrastructure Construction Output by Cost Type (EUR Million), 2010-2019
Figure 17: Greek Infrastructure Construction Output by Activity Type (EUR Million), 2010-2019
Figure 18: Greek Infrastructure Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 19: Greek Energy and Utilities Construction Output by Project Type (EUR Million), 2010-2019
Figure 20: Greek Energy and Utilities Construction Output by Cost Type (EUR Million), 2010-2019
Figure 21: Greek Energy and Utilities Construction Output by Activity Type (EUR Million), 2010-2019
Figure 22: Greek Energy and Utilities Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 23: Greek Institutional Construction Output by Project Type (EUR Million), 2010-2019
Figure 24: Greek Institutional Construction Output by Cost Type (EUR Million), 2010-2019
Figure 25: Greek Institutional Construction Output by Activity Type (EUR Million), 2010-2019
Figure 26: Greek Institutional Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 27: Greek Residential Construction Output by Project Type (EUR Million), 2010-2019
Figure 28: Greek Residential Construction Output by Cost Type (EUR Million), 2010-2019
Figure 29: Greek Residential Construction Output by Activity Type (EUR Million), 2010-2019
Figure 30: Greek Residential Construction Value Add by Project Type (EUR Million), 2010-2019

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