2022 Construction Cost
Estimating Data Publications
Industrial/Commercial Construction Cost Estimating Data
Compass International, Inc. is a professional commercial construction cost estimating and consulting firm established in 1992 to provide services to Owners, Financial Institutions, Design Professionals and Construction Organizations.
Compass International services include the publication of eight annual Industrial and Commercial construction cost data yearbooks, project and construction management, estimation reviews, audits, and validation services, as well as value engineering, strategic planning, and in-house training for up to 25 mid-senior level staff.
GLOBAL CONSTRUCTION NEWSLETTER
April to June 2022
On February 24th, Russia launched a large-scale invasion of its neighbor Ukraine. The consequences of this war are significant to the Global Construction Sector. Russia’s full-scale hostilities on Ukraine have resulted in strong, international measures focused on punishing Russia. The sanctions and current restraints on Russia also put difficulties on numerous other countries in Europe and around the world.
Russia’s invasion of Ukraine and the international sanctions that have been imposed will have a serious impact on the global economy in 2022 and possibly beyond.
Russia is a very significant supplier/exporter of oil, natural gas, and metals. Elevated prices on essential materials/metals/commodities have started to trigger major price spikes around the world. Between the supply of up to 35% of the world’s wheat and barley requirements and countries in the Middle East and Africa being major importers of these crops, prices have risen by more than 40% with both Russia and Ukraine unable to export these products.