Claims and disputes lead to a loss of money and time on house building projects but there are steps developers can take, write Katerina Hoey and Gerry Brannigan of risk consultancy HKA
Amid the UK’s chronic housing under-supply and burgeoning investment in Build to Rent, the residential construction sector can look forward to 2022 with optimism. This sunny outlook is clouded by some significant uncertainties, however, and it is these persistent underlying problems compromising the outcomes of housing projects which must be addressed.
Many residential construction projects – especially major contracts – haemorrhage money and time. This waste has been laid bare by HKA’s CRUX Insight 2021 global analysis of claims and disputes on capital projects. This latest dataset included 66 residential developments in the UK, together representing a capital investment of more than £570 million.
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