Fast-paced expansion of life science laboratories in the U.S. due to rising research spending
In the USA, life science companies are experiencing high pressure to innovate due to expiring patents. Research spending is increasing significantly and new laboratories are being built at a rapid pace. Over the past five years, laboratory space used by life sciences companies has grown 47 percent to 16.9 million square feet. Another 3.7 million square meters are under construction. The greater Boston, Massachusetts area in particular represents the largest life sciences cluster in the USA with over 1,600 companies.
Turkish construction industry: order books well filled despite economic challenges
The Turkish construction industry is proving robust despite economic difficulties. While the general economy grew by 3.8 percent in Q2 2023, the construction industry grew by 6.2 percent. The retail and logistics sectors in particular are driving building construction. However, government austerity measures could affect infrastructure projects. Nevertheless, the industry’s order books are well filled, and new projects could emerge in social housing construction ahead of the 2024 local elections.