Crane Activity Continues to Soar - Viranda Holdings LTD

Soaring above the skyline is an unprecedented number of cranes across our major centres.

According to a survey conducted by Rider Levett Bucknall (RLB) released in March 2019, there were 148 long-term cranes at work across NZ’s cities, compared to 140 at the last count in September 2018. Since the last audit, 58 of these cranes were positioned on new projects, with 50 cranes removed from those nearing completion.

Auckland is leading the way in this activity and contributes to two thirds of all long-term cranes, no doubt because of its population surge leading to increased demands for construction across all sectors – residential, commercial, retail, health and education.

While this activity feels very positive, with any major building project there is always pressure on resources and vulnerability of failure. Typically, the first hint of a problem is when the cranes come to a standstill, and the demise of another key contractor recently does signal cautious times ahead.

Significant investment is being made within the hotel and recreation sectors. Ten of 14 hotel projects are in Auckland and many of these have 2021 deadlines to match significant events such as the America’s Cup Challenge in March and APEC Economics Leaders’ meeting in November.

At Viranda, we are heartened by this strong growth and continued investment, and it’s not just Auckland, but across the main centres. There is an impressive list of the major Auckland building projects (processed or planned) that is currently totaling about $74.5bln. Take a closer look at the numbers here.