Last week Building magazine published their Six Predictions for 2024. The article asked leading industry players for the thoughts on 2024.

“Where do we go from here? Six predictions for 2024” presents insightful perspectives on the future of the construction and real estate industries. Below we respond with our thoughts on how these predictions resonate with b&m:

  1. Embrace Technological Tools: The anticipation of large suppliers turning to technological tools aligns with the challenges faced in our industry, and we know that this is a change in the financial landscape. The acceleration toward technological tools signifies a shift towards increased visibility and trust within the industry.
  2. Growing Appetite for Timber: We are taking note of the growing interest in timber as a construction material, particularly with a focus on low-carbon buildings. This prediction aligns with the industry’s commitment to sustainable practices. We are finding more and more projects which incorporate timber, pointing towards more eco-friendly construction methods and meeting the demand for environmentally conscious requirements.
  3. Focus on Climate Resilience: The industry’s increased focus on climate resilience, guided by reporting frameworks and green taxonomy, is relevant to many of our construction projects. As climate considerations become more critical, we realise that we need to prioritize sustainable approaches, ensuring that projects align with climate-resilient standards. This shift, of course, influences various aspects of project planning, design choices, and material selections.
  4. Alternatives to Home Ownership: Many of our residential development clients are paying attention to the prediction concerning alternative housing models. Exploring innovative solutions, such as co-living arrangements, presents opportunities to address housing challenges and changing consumer preferences. As active partners in this sector, especially with housing associations, we understand that there is a evolving rental market landscape.
  5. Commitment to the Knowledge Economy: The call for a commitment to the knowledge economy aligns with b&m’s dedication to excellence. Engaging in collaborative efforts and recognising intellectual capital as crucial for progress resonates with our ethos of collaboration and people first. We know it is important to contribute positively to job creation and talent retention, fostering growth in all construction sectors.
  6. Growing the B Corp Movement: As a B Corp business , we believe in contributing significantly to the Environmental, Social and the workforce, aligning with the industry’s ambition for positive environmental and social impacts. Obtaining B Corp certification has offered us a structured approach to showcase our commitment to responsible business practices. This not only serves as a measurement tool for sustainable impacts but also provides a platform for b&m to collaborate within a community focused on shared goals and solutions.

In summary, the predictions outlined in the Building magazine’s article resonate with our beliefs, with opportunities to navigate industry changes effectively by embracing technology, sustainability, collaboration, and responsible business practices in 2024.