JLL's 2024 Midyear Construction Update and Reforecast

Key Details

• Steady Demand: JLL reports sustained demand across industrial, residential, and infrastructure sectors, signaling potential for new developments and portfolio diversification.
  
• Economic Stability: A stable economy with moderate interest rates creates a favorable environment for construction growth, allowing for accurate forecasting and long-term planning.
  
• Technological Advancements: Innovations like Building Information Modeling (BIM) and prefabrication enhance efficiency and reduce costs, benefiting project planning and execution.
  
• Labor Market: Efforts to train and retain skilled workers are mitigating labor shortages, ensuring timely and high-quality project completions.
  
• Sustainability: Green building practices are becoming essential due to regulatory and corporate responsibility goals, appealing to environmentally conscious tenants and investors.

The Impact

• Investment Opportunities: Stability presents ideal conditions for new investments in logistics, residential developments, and sustainable infrastructure.
• Strategic Planning: Technological advancements streamline project planning, reducing costs, and enhancing efficiency.
• Sustainable Development: Embracing green practices meets regulatory requirements and attracts a broader investor and tenant base. Green certifications and energy-efficient designs are increasingly sought after in the market.
• Workforce: Partnering with firms focused on workforce training helps mitigate labor shortages and ensures a steady pipeline of skilled labor.

What's Next
Market trends suggest continued demand and growth in several key areas:

• Logistics and Warehousing: As e-commerce continues to expand, the need for logistics and warehousing facilities remains high. Professionals can capitalize on this by investing in and developing industrial properties.
• Urban Building Renovation: With increasing emphasis on sustainability, renovating and repurposing older urban buildings is becoming more attractive. This trend is driven by both regulatory requirements and market demand for green buildings.
• Financial Management: Navigating economic volatility and ensuring operational efficiency are critical in today's market. Strengthening financial management skills can help professionals better manage their portfolios and investments.

To Help Members Capitalize on These Trends, The CCIM Institute Offers The Following Courses.
Robert L. Ward Center for Commercial Real Estate Studies Courses

• Evaluating Industrial Development Projects: Learn to evaluate and invest in high-demand industrial real estate sectors.
  Date: July 30 - August 1, 2024
• Real Estate Development: Building Renovation: Master the art of renovating urban buildings, focusing on sustainability and repurposing older structures.
  Date: August 26-28, 2024
• Basics of Commercial Real Estate Accounting: Strengthen financial management skills to navigate economic volatility and ensure operational efficiency.
  Date: August 27-29, 2024
  VIEW ALL COURSES

Development Track Courses

• Real Estate Development: Acquisitions: Learn acquisition strategies and tasks needed to add value and sell improved properties profitably.
• Real Estate Development: Building Development: Gain knowledge to take a building development project from concept to completion, including team formulation, financing, and marketing.
• Real Estate Development: Environmental Factors: Explore environmental considerations and challenges, including sustainability certifications and environmental studies.

By enrolling in these courses, members can stay ahead of market trends and make informed, strategic decisions in their projects. For more details and registration, visit The CCIM Institute's course offerings.

To read the full JLL story, you can find a link to it here.