Giffels-Webster Engineers revealed its annual list of top five real estate and development trends. According to GWE, two industries are intrinsically linked to the aging boomer population.
Increased spending on prescriptions is leading companies in the life sciences industry to expand research and development facilities and labs. A trend toward single-occupancy rooms will drive hospitals and other health care facilities to renovate or expand.
“The credit crunch, weakened consumer confidence and escalating construction costs have caused financial distress for developers, contractors and retailers that will continue throughout 2009,” said Loren Crandell, president and CEO, Giffels-Webster Engineers. “But smart companies will focus on these trends and aggressively chase new opportunities, effectively weathering the challenging days ahead.”
The industries most likely to see growth are:
- Infrastructure Rehabilitation
- Urban Redevelopment
- Energy Generation
- Life Sciences
- Health care Expansion/Renovation