Saudi Arabia Construction Sector Saudi Arabia: Construction costs in Saudi Arabia continued to rise at a steady pace in December 2025, with the Construction Cost Index increasing 1.1% year on year for the second consecutive month, supported by stable prices for materials and equipment rentals. The index stood at 101.8 points in December, unchanged from November monthly, according to data released by General Authority for Statistics. The stable trend comes as the Kingdom advan

US Economy US: The US economy expanded at a faster pace than previously estimated in the third quarter, with gross domestic product revised up to a 4.4% annualised rate, according to updated data from the Bureau of Economic Analysis. The revised figure marked the strongest quarterly growth since the third quarter of 2023, compared with 3.8% growth in the second quarter. The upward revision reflected stronger exports and business investment, while higher imports partially offs

Data Centers US: Commercial real estate construction is expected to record little or no growth this year, as higher interest rates, elevated material costs, and labor shortages weigh on new project activity. According to estimates from FMI Corp, spending on offices, hotels, apartments, and warehouses is projected to decline in 2026. In contrast, data centers remain a key exception, supported by continued investment from major technology companies to meet rising demand linked

Higher Cooling Energy Performance Standards Global: Ten multinational companies, including ABB, Danfoss, and Johnson Controls, have urged policymakers to adopt higher minimum energy performance standards for air conditioners and other major appliances. The call forms part of five global policy principles launched by the Climate Group Smart Energy Coalition, which represents more than 100 companies focused on improving energy efficiency across buildings and industry. The coali

Philippines Philippines: The Philippines has advanced discussions on strengthening minimum energy performance standards for air conditioners following a stakeholder consultation held in November 2025 under the ACT MEPS project. The meeting highlighted the need for higher efficiency benchmarks, stronger enforcement, and improved consumer awareness to address rising energy demand and emissions from the cooling sector. The consultation was organised by the Department of Energy i

Pre sale Finance Guarantee program Australia: The New South Wales Labor government has activated its US$ 685 million Pre sale Finance Guarantee program by supporting a 225 apartment mixed-use development in Rozelle, in Sydney's inner west. The US$ 195 million Rozelle Village redevelopment, located on the former Balmain Leagues Club site on Victoria Road, is the first project to receive backing under the scheme. The programme allows the state government to commit to presales f

Wickes UK: Wickes Group plc reported continued sales growth across all areas of its business in the six months ended 27 December 2025, with group revenue rising 6.3% year on year. Growth in the second half of 2025 was driven by higher volumes despite a mildly deflationary pricing environment, supporting further market share gains. Retail revenue increased 6.2%, led by an 8% rise in TradePro sales, while DIY sales recorded mid-single digit growth supported by higher customer t

Optimist Raises US$ 12 Million funding India: Technology-led cooling startup Optimist has secured US$12 million in a seed and pre-Series A funding round led by Accel and Arkam Ventures, with participation from angel investors, to develop and produce air-conditioning systems suited to India’s high temperatures and constrained power conditions. Founded in 2024 by Ashish Goel, former CEO and co-founder of Urban Ladder, and Pranav Chopra, the company plans to use the funds to adv

Housing Project Australia: Construction has commenced on an US$ 85 million build to rent housing development in Eastwood, located just outside the Adelaide central business district. The Wirra Mikangka project will deliver 151 apartments across two buildings of nine and five storeys, with ground floor retail and hospitality space and shared gardens overlooking the city's southeastern parklands. Of the total apartments, 121 are allocated for people on low and moderate incomes,

Australia Construction Sector Australia: Global construction market intelligence firm Hubexo has released its 2026 Construction Outlook Report, outlining a period of recalibration for the Australian construction industry following several years of volatility, cost pressures, and capacity constraints. According to the report, the sector is entering 2026 in a reset phase, characterised by more disciplined project sequencing and a stronger focus on capacity management rather tha

UK Government Schemes UK: The UK Government has introduced a new national programme aimed at improving home energy efficiency for lower-income households, with total funding of US$ 17.6 billion. The initiative targets families with an annual household income of around US$41,000 or less and focuses on providing access to energy efficiency upgrades such as solar panels, heat pumps, insulation, and smart energy controls. The scheme replaces earlier fragmented approaches, includi

Egypt Egypt: Egypt has received approval for funding of around US$ 1 million for its Compressor Conversion Project during the 97th meeting of the Executive Committee under the Montreal Protocol. The project is designed to support the local conversion of hermetic compressor manufacturing toward inverter-based technology, with the objective of improving energy efficiency in the cooling sector. The initiative is financed through the Multilateral Fund, which supports countries in