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Construction sector in Russia H1, 2012

Development forecasts for 2012-2014
Construction sector in Russia H1, 2012 Development forecasts for 2012-2014

May 2012
Pages: 141
Delivery: PDF


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The report updates readers on recent industry activity, while providing a comprehensive view of the overall Russian construction market, including its infrastructure, residential and non residential segments.

The report highlights regions within this huge market that present the greatest likelihood for growth, and describes current trends affecting the market and how they will influence development over the coming years.
 

Comprehensive coverage includes:

  • Analysis of the construction market as a whole, interpretation of trends in salaries, volume of employment, prices, details on the number and financial standing of construction companies active in the Russian market
  • In-depth analysis of factors that will influence the future of the Russian construction market: macroeconomic trends, foreign investment levels, investments by domestic companies, cement production, new government programmes, and more
  • Analysis of the civil engineering market and its individual segments, including growth potential forecasts until 2014
  • Analysis of the non-residential construction market and its individual segments, including data on upcoming projects and growth estimates until 2014
  • Analysis of the residential construction market, including number of flats to be completed and additional forecasts until 2014
  • Detailed overview of the largest players on the Russian construction market, along with their latest financial figures, newest projects and contracts, and strategic plans for success.

Construction sector in Russia H1 2012-2014, answers these questions and more:

Did you know... 
“In 2011, the average monthly salary in construction increased by 12.1% to $803, which is 1.5% higher than the average Russian salary level across all industries.”
“Over the past 12 months business confidence in construction in Russia has been more robust than the average in the EU countries.”
“The widest gap between the average asking price for mass housing on the primary market and the average cost of building such housing is observed in Moscow.”
“Companies which participated in tenders in Russia in 2011 offered, on average, 20% less than had been expected.”
“Last year, the total value of mortgage loans granted in Russia increased by 90%.”
“Mostotrest won three of the five largest transport infrastructure development contracts tendered in Russia in 2011.”
  • What are the current and projected values of the Russian construction market and its individual segments?
  • What is the total area of apartments to be placed in use between 2012 and 2014?
  • Which regions will witness the largest increases in the number of new construction projects in the coming years?
  • What road construction projects are planned for the period until 2014 and beyond?
  • Which are the largest construction companies in Russia, how successful are they financially, and what new contracts are on their agendas?
  • How have the prices of construction materials changed recently? What are the future expectations?
  • Has the number of construction companies operating on the Russian market changed recently, and what does the competitive landscape look like?
  • What key legal changes affecting the construction market have been introduced over the last few months? How will they change the way contractors conduct business?
  • What are the most important indicators and current trends in the sub-segments of non-residential construction? How will they evolve in the next two years?

Appreciate the convenience of these unique features:

  • Difficult to locate data on the main segments of the Russian construction market: residential construction, non-residential construction and infrastructure
  • Current trends and their forecasted influence on Russian construction market as a whole and for its individual segments
  • Detailed profiles of the largest market players, including the latest information on their financial results and contracts won within the last few months
  • Forecasts for the value of construction and assembly production until 2014, categorized by residential, non-residential and civil engineering construction
  • origin
  • Forecasts for the number of completed apartments until 2014.

This report provides essential information for professionals when:

  • Starting new operations on the Russian construction market
  • Expanding operations into a new segment of the construction market
  • Effecting mergers and acquisitions in the Russian construction marketplace
  • Developing a successful corporate strategy
  • Analysing investment opportunities on the construction market in Russia
  • Monitoring the competition on the construction market
  • Estimating corporate share in the construction market
  • Compiling accurate forecasts regarding demand for construction materials
  • Preparing in-house analyses for corporate management or shareholders.

This report meets the business information and intelligence requirements of:

  • Manufacturers and distributors of construction materials and equipment interested in this market
  • Contractors currently operating in Russia
  • Foreign construction companies considering investments in Russia
  • Consulting, research and analysis firms serving clients in this market
  • Government institutions, embassies, universities and research institutes.
  • Chambers of commerce, trade and industry organizations.
  • Financial institutions (banks, brokerage houses, investment funds).

Companies mentioned in this report:

Mostotrest, Stroygazmontazh, TAIF, Roszheldostroi, SU-155, Orion-Stroy, Drilling Company of Gazprom, Yamaltransstroy, Transstroy, Mezhregiontruboprovodstroy, Stroytransgazh, Euracor, Inteco, Crocus Group, Adamant, AFI Development, Tashir Group, Patero Development, Hals-Development, EKE Group YIT, Strabag, Vinci, Kasa Stroy, Enka, Renaissance Construction, Implenia, Lotte Group, Raven Russia, NCC, Arabtec, Hochtief.

Extract from this report

  • There was an increase of 12.6% in the total value of construction contracts signed in Russia last year.
  • Three-quarters of all federal subjects witnessed growth in construction activity last year in comparison with slightly more than half in 2010, a marked improvement.

Market commentary by expert

Last year, the Russian construction industry finally resumed growth. In 2009, the industry experienced a 13% decline, which was followed by another slight decrease in 2010. The 5% increase experienced in 2011 in the value of completed construction work was driven mostly by infrastructure development and housing construction. Civil engineering, especially road construction, has been increasing due to the preparations for large-scale events such as the Olympics in Sochi and APEC Summit in Vladivostok, whereas residential development has seen a long-awaited recovery thanks to substantial housing subsidies granted by the government and a rapid expansion of the mortgage market.

Robert Obetkon, Senior Construction Analyst

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  1. Report methodology p. 9

  2. Executive summary p. 11

  3. Macroeconomic overview p. 23

    • Gross domestic product p. 23
    • Gross value added in construction p. 24
    • Gross fixed capital investment p. 25
    • Foreign direct investment p. 25
    • Fiscal policy p. 26
    • Inflation p. 27
    • Labour market and private consumption p. 28
    • Russian economic outlook p. 29

  4. Construction overview p. 31

    • Construction market value p. 31
    • Construction companies p. 35
    • Employment and wages p. 36
    • Construction costs p. 38
    • Business confidence in construction p. 39
    • Building materials industry overview p. 41
    • Legal changes relevant to the construction market p. 44
    • Forecast p. 47

  5. Civil engineering p. 51

    • Introduction p. 51
    • Roads p. 56
    • Railways p. 65
    • Airports p. 70
    • Ports and internal waterways p. 73
    • Environmental protection-related projects p. 74
    • Investments in heavy industry p. 77
    • Stadiums p. 82
    • Forecast p. 83
    • Non-residential construction p. 87
    • Situation in the non-residential construction market p. 87
    • Office construction p. 88
    • Shopping centre construction p. 92
    • Logistics centre construction p. 97
    • Hotel construction p. 101
    • Forecast p. 104

  6. Residential construction p. 107

    • Housing stock p. 107
    • Dwelling completions p. 109
    • Residential construction in the regions p. 111
    • Individual residential construction p. 114
    • Residential construction development programme p. 118
    • Housing prices p. 119
    • Mortgage market p. 121
    • Forecast p. 122

  7. Competitive environment p. 125

    • Market competition p. 125
    • Financial standing p. 131
    • Latest mergers and acquisitions p. 131
    • Key producers of building materials p. 131

  8. List of graphs p. 133

  9. List of tables p. 137

  10. About PMR p. 139

  11. Contact PMR p. 140

List of graphs

  1. Real change of GDP in Russia (%), 2006-2014      11
  2. Construction output in Russia (RUB bn and real y-o-y change), 2006-2011      13
  3. Construction output in Russia (RUB bn and real y-o-y change), 2006-2014      15
  4. Civil engineering construction output in Russia (RUB bn and y-o-y changes), 2007-2014      17
  5. Non-residential construction output in Russia (RUB bn and y-o-y changes), 2007-2014      19
  6. Total number of homes built in Russia (‘000 units and y-o-y change), 2006-2011      20
  7. Residential construction output in Russia (RUB bn and y-o-y changes), 2007-2014      21
  8. Real change of GDP in Russia (%), 2006-2014      24
  9. Share of GVA in construction in total GVA for all industries and in GDP in Russia, 2005-2011      24
  10. Gross fixed capital formation in Russia (%, y-o-y), 2006-2014      25
  11. Foreign direct investment in Russia ($ bn), 2006-2011      26
  12. General government debt and budget balance in Russia (% of GDP), 2006-2011      27
  13. Consumer price index in Russia (%, average), 2006-2011      28
  14. Change in average real monthly gross wages, household consumption and unemployment rate in Russia (%), 2006-2011      28
  15. Construction output in Russia (RUB bn and real y-o-y change), 2006-2011      32
  16. Value of construction work contracts signed and other construction orders in Russia (RUB bn), 2008-2012      32
  17. Construction output in Russia, by leading regions, 2011      33
  18. Number of people employed in the construction industry in Russia (‘000), 2006-2011      36
  19. Average gross monthly wage in the construction industry in Russia (RUB and y-o-y nominal change), 2006-2011      37
  20. Producer price indices in construction in Russia (%, y-o-y), 2006-2012      38
  21. Business confidence index in the construction industry in Russia and EU countries (%), 2001-2012      39
  22. Average capacity use rate in the Russian construction industry (%), 2006-2012      40
  23. Main obstacles to doing business for Russian construction companies (% share of companies as proportion of total number), Q3 2010-Q1 2012      41
  24. Production and consumption of cement in Russia (million tonnes and y-o-y change), 2006-2012      42
  25. Change in production of basic building materials in Russia (%, y-o-y), 2007-2011      42
  26. Construction market breakdown in Russia (%), 2007-2014      48
  27. Construction output in Russia (RUB bn and real y-o-y change), 2007-2014      49
  28. Completion of hard-surfaced roads in Russia (km), 2000-2011      58
  29. Bridge completion in Russia (metres), 2000-2011      58
  30. Roads operated by Avtodor, April 2012      60
  31. Construction and modernisation of roads operated by Avtodor (km), 2011-2019      61
  32. Planned network of roads operated by Avtodor in 2030      63
  33. Railway construction in Russia (km), 2000-2011      65
  34. Railway infrastructure, planned development in Russia, 2010-2030      68
  35. Paved airport runways completed in Russia (‘000 m2), 2000-2011      70
  36. Fixed-capital investment in environmental protection and sustainable use of natural resources in Russia (RUB bn), 2000-2011      74
  37. Completion of environmental protection facilities in Russia, 2000-2011      75
  38. Capacity to be put into operation in accordance with capacity delivery agreements in Russia (MW), 2010-2017      78
  39. Location of stadiums for the 2018 FIFA World Cup in Russia      82
  40. Civil engineering construction output in Russia (RUB bn and y-o-y changes), 2007-2014      85
  41. Shopping centre stock distribution in Russia, by space, 2011      95
  42. Shopping centre stock distribution in Russia, by space, 2013      95
  43. Average warehouse construction costs in the Moscow area ($/m2, incl. VAT), 2007-2011      98
  44. Non-residential construction output in Russia (RUB bn and y-o-y changes), 2007-2014      105
  45. Total housing stock in Russia (million m2, year-end), 2005-2011      108
  46. Old and dilapidated housing in Russia (million m2), 1996-2011      109
  47. Total number of homes built in Russia (‘000 units and y-o-y change), 2006-2011      110
  48. Total floor space of residential space completed in Russia (million m2 and y-o-y change), 2006-2011      110
  49. Average size of dwellings built in Russia (m2), 2000 and 2005-2011      111
  50. Construction of residential floor space in Russia, by leading regions, 2011      112
  51. Individual construction of housing space as a proportion of total housing space completed in Russia (%), 2006-2011       115
  52. Total number of detached houses built by individuals in Russia (‘000 units and y-o-y change), 2006-2011      115
  53. Total floor space of detached houses completed by individual builders in Russia (million m2 and y-o-y change), 2006-2011      115
  54. Planned residential construction levels in Russia in accordance with the Housing Programme, 2011-2015      119
  55. Change in average prices of dwellings on the primary and secondary market in Russia (%, end of period to the end of the preceding year), 2006-2011      120
  56. Value of mortgages granted in Russia (RUB bn), 2005-2012      122
  57. Residential construction output in Russia (RUB bn and y-o-y changes), 2007-2014      123
     

List of tables

  1. Forecasts for the main economic indicators in Russia for 2010-2014      29
  2. Construction output in federal subjects of the Russian Federation, 2009-2011      34-35
  3. Prices of selected materials procured by contractors in Russia, February 2012      43
  4. Total length of motor roads in Russia (‘000 km, at the end of the year), 1992, 1995, 2000 and 2004-2010      57
  5. Completion of roads in Russia, by category (km), 2011      57
  6. Major PPP projects planned by Avtodor, 2011-2019      62
  7. Major road projects in Russia, 2012-2018      64
  8. Major railway projects in Russia, 2012-2018      69
  9. Major airport projects in Russia, 2012-2015      72
  10. Seaport construction and internal waterway projects in Russia (RUB m), 2012-2015      73
  11. Major environmental protection projects in Russia, 2012-2017      76
  12. Major heavy industry projects in Russia, 2012-2018      81
  13. Planned construction and modernisation of stadiums for the 2018 FIFA World Cup      82
  14. Non-residential buildings completed in Russia, 2006-2011      88
  15. Basic indicators for the Moscow office property market, 2011      89
  16. Basic indicators for the St. Petersburg office property market, 2011      90
  17. Planned business centre launches in St. Petersburg in 2012      90
  18. Major office projects in Russia, 2012-2015      91
  19. Basic indicators for the Moscow retail property market, 2011      92
  20. Planned shopping centre launches in Moscow and Moscow Province in 2012      93
  21. Basic indicators for the St. Petersburg retail property market, 2011      94
  22. Planned shopping centre launches in St. Petersburg in 2012      94
  23. Major retail and service projects in Russia, 2012-2018      96
  24. Basic indicators for the Moscow warehouse property market, 2011      97
  25. Basic indicators for the St. Petersburg warehouse property market, 2011      99
  26. Major industrial and warehouse projects in Russia, 2012-2017      100
  27. Basic indicators for the Moscow market for three-to-five star hotels, 2011      101
  28. Expected hotel launches in Moscow in 2012      102
  29. Basic indicators on the St. Petersburg hotel market, 2011      102
  30. Major hotel projects in Russia, 2012-2018      103
  31. Total floor space of housing units completed in subjects of the Russian Federation, 2009-2011      113-114
  32. Major residential projects in Russia, 2012-2017      116-117
  33. Russian regions with widest gaps between housing prices and housing construction costs, February 2012      121
  34. Financial data of the top 20 contractors in Russia (RUB m), 2007-2010      127
  35. Largest residential property developers in Russia, 2012      128
  36. Financial results of companies active on the construction and property markets in Russia, 2011      130
  37. M&A transactions in Russian construction and property development, 2011-2012            131
Construction sector in Russia H1, 2012
Development forecasts for 2012-2014

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