Overall, the long-term outlook for Greece's struggling construction sector remains bleak. While the country has successfully agreed a third bailout deal, economic growth will remain subdued, and significant structural weaknesses persist, exacerbated by ongoing political uncertainty. There is therefore little scope for public spending, and we expect private investment to be the sole source of growth throughout much of the forecast period. Key to this is the progression of highly unpopular privatisations of major state-owned assets, including transport infrastructure and key utilities. Although we expect some growth in the value of the construction sector value over the forecast period, driven by projects such as the Trans Adriatic Pipeline, it will be more than a decade before the industry successfully regains 2013 value levels and even longer before pre-crash values are obtained.
Key Developments And Forecasts
- Privatisation looks set to proceed with the creation of a EUR50bn investment fund, into which the government will transfer state-owned assets, which will be either sold off or managed in order to fund debt repayments and economic reform.
- In early November 2015, the European Investment Bank granted loans worth a total of EUR285mn
(USD310.31mn) for energy projects in Greece.
- A new deadline of December 15 2015 was set for final bids for the Port of Piraeus, followed by a February 2016 deadline for final bids for the Port of Thessaloniki.
Table: Greece Construction Industry Forecast
Table: Greece Infrastructure Risk/Reward
Construction And Infrastructure Forecast Scenario
Table: Construction And Infrastructure Industry Data (Greece 2014-2024)
Transport Infrastructure - Outlook And Overview
Table: Transport Infrastructure Industry Data (Greece 2014-2024)
Table: Transport Projects
Energy And Utilities Infrastructure - Outlook And Overview
Table: Energy And Utilities Infrastructure Data (Greece 2014-2024)
Table: Fast-Tracked Projects Of Common Interest - Greece
Table: Energy & Utilities Projects
Residential/NonResidential Building - Outlook And Overview
Table: Residential & Non-Residential Building Industry Data (Greece 2014-2024)
Table: Construction And Social Infrastructure Key Projects
Industry Risk/Reward Index
Greece - Infrastructure Risk/Reward Index
Western Europe And North America Risk/Reward Index
Table: Western Europe And North America: Infrastructure Risk/Reward Index
Table: Key Company Financial Data
GEK Terna S
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Infrastructure Risk/Reward Index Indicators
Table: Weighting Of Indicators