Navigation Links
Healthcare and Education Building Markets Remain Particularly Strong as Energy, Materials and Commodity Costs Drive Construction Pricing Upward
Date:6/16/2008

2nd Quarter Turner Building Cost Index Forecasts 6.61% Increase Over One

Year Period

NEW YORK, June 16 /PRNewswire/ -- Turner Construction Company, the nation's leading general builder, today announced that construction costs increased 1.57 percent over the First Quarter 2008 and 6.61 percent over the Second Quarter 2007. Turner has issued this quarterly forecast for more than 80 years.

According to Karl F. Almstead, the Turner vice president responsible for the Turner Building Cost Index said, "Overall, the domestic non-residential building markets continue to be active. The healthcare, education, science, technology and public sector market segments remain strong while commercial and retail have declined slightly and large-scale residential projects have slowed significantly.

"Driven by global demand and supply, construction materials and commodity costs continue to rise, with some experiencing double digit price escalation since the first quarter of 2008. Steel, copper, aluminum, asphalt, roofing and PVC are all experiencing price spikes. Increased energy costs are also adding pricing pressure on both manufacturing and transportation."

Approximately 90% of Turner's business is performed under contract arrangements where Turner provides extensive preconstruction planning services before the contract price is fixed and before construction starts. By providing high quality pre-construction phase services and utilizing alternative procurement strategies, Turner continues to effectively serve its clients and manage the market risks associated with cost escalation issues.

Used widely by the construction industry and Federal and State governments, the building costs and price trends tracked by The Turner Building Cost Index may or may not reflect regional conditions in any given quarter. The Cost Index is determined by several factors considered on a nationwide basis-labor rates and productivity, material prices and the competitive condition of the marketplace. This index does not necessarily conform to other published indices because others do not generally take all of these factors into account.

About Turner

Turner is the leading general builder in the U.S., ranking first or second in the major segments of the building construction field. During 2007, Turner completed $9.6 billion of construction. Turner is the only builder offering clients a nationwide network of offices across the U.S. Founded in 1902, the firm is a subsidiary of HOCHTIEF, one of the world's leading international construction service providers. For more information, visit Turner's website at http://www.turnerconstruction.com.

HOCHTIEF is one of the leading international providers of construction-related services. With more than 52,000 employees and a sales volume of EUR 16.45 billion in FY 2007, the company is represented in all the world's major markets. The Group's service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with its holding company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton, HOCHTIEF is market leader in Australia, and the Leighton Al Habtoor Group makes it one of the key vendors in the building construction and civil engineering market in the Gulf region. Further information is available at http://www.hochtief.com/press.


'/>"/>
SOURCE Turner Construction Company
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Aligntechinstitute.com Wins International Award of Excellence From Healthcare Communications Marketing Association
2. More Than 13,000 Home Healthcare Workers, Clients Protest Governors Cuts
3. More Than 13,000 Home Healthcare Workers Protest Governors Budget Cuts
4. Formation Capital to Purchase Haven Healthcare
5. Rochester Medical Honored by Premier Healthcare Alliance for Exceeding Performance Expectations
6. Kingfisher Healthcare (KFH) Wins Prestigious Frost & Sullivan Best Practices Award
7. HMS Holdings Corp. to Present at Jefferies 2nd Annual Healthcare Conference
8. ev3 Inc. to Present at the Jefferies 2nd Annual Healthcare Conference
9. Cognizant Ranks #11 on Healthcare Informatics 100 List
10. Healthcare Tech and the World: A New Perspective on Innovation in Healthcare
11. Healthcare Veteran Joins Solantic Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... ... 2016 , ... Researchers at Johns Hopkins All Children’s Hospital want to learn ... the course of three years, researchers will study concussions and changes in brain function ... with special sensors, will track the location and force of the hit. The sensors ...
(Date:12/5/2016)... ... 05, 2016 , ... “Epilepsy Awareness,” which can be found ... a conversation about epilepsy, bearing down on the social stigma and lack of ... with epilepsy within their lifetime. With such a large percentage of people affected, ...
(Date:12/5/2016)... (PRWEB) , ... December 05, 2016 , ... ... Keynote speaker for the 21st Annual International Congress on Hematologic Malignancies®: Focus on ... PER® president, Phil Talamo said, “We are honored to have Amy E. Herman ...
(Date:12/5/2016)... ... December 05, 2016 , ... ... geographic lines. The goal of Castlewood Treatment Centers has always been to promote ... to as many people as possible. In that spirit, Castlewood has announced two ...
(Date:12/5/2016)... , ... December 05, 2016 , ... Dr. Barry M. ... Cosmetic Plastic Surgery, who recently participated in the 36th Annual Cutting Edge Aesthetic Symposium ... the newest techniques for getting that perfect, yet natural-looking, nose. Dr. Weintraub, who is ...
Breaking Medicine News(10 mins):
(Date:12/5/2016)... 2016 Research and Markets has announced the addition ... to 2021" report to their offering. ... , , The global spinal ... 2021, at a CAGR of 5.3% from 2016 to 2021. Factors such ... cases, increasing government spending on healthcare, and rising income levels are propelling ...
(Date:12/5/2016)... , December 5, 2016 ... to Deputy Chairman   ... selectively targeting deubiquitylating enzymes (DUBs) to treat cancer, neurodegenerative and ... been appointed as non-executive Chairman, effective January 1 st ... Mission Therapeutics as a non-executive Director in July 2015. ...
(Date:12/4/2016)... Attorney General of Louisiana , Charles ... firm of Kahn Swick & Foti, LLC ("KSF"), announces that ... LCI ). On November 3, ... in Generic-Drug Probe to Be Filed by Year-End," which reported ... two years ago, now spans more than a dozen companies," ...
Breaking Medicine Technology: