A new report published by Turner & Townsend reveals the growth of artificial intelligence (AI) infrastructure, including soaring demand for data centers, is squeezing global construction market capacity, adding to skilled labor shortages. This is expected to drive rapid job creation and the introduction of innovative new construction approaches in the coming years.
The growth in demand for data centers is creating a two-speed construction market where geopolitical tensions and economic challenges, mixed with workforce and supply chain constraints, are limiting investor confidence in traditional sectors such as residential and commercial development.
Turner & Townsend’s latest Global Construction Market Intelligence report represents data gathered from 112 markets across 44 countries. The research found Geneva is the most expensive place to build in the European Union at $6,985 per square meter, placing it third in the global list, followed closely by
