Global Construction Surge, ConTech 2025 Predictions, Veterans Who Build EP 21 - US Navy Seabee and ConTech Founder

December 2024, THE MODERN BUILDER: Monthly, no-nonsense, industry news

Global Construction Surge

• The Top 250 International Contractors reported $499.7 billion in revenue, the highest since 2015. 63% of firms noted revenue growth. Of those reporting, 92.7% were profitable, and the backlog increased by 54%.
• Revenue growth was strongest in the Middle East (+28.8%), U.S. (+27.9%), Latin America (+27.3%), and Australia (+21%), while Canada’s growth remained flat at 0.3%.
• Key growth areas include manufacturing (+32.5%), industrial processes (+29.9%), and petroleum (+26%), driven by investments in infrastructure and energy, especially in emerging markets like Saudi Arabia under Vision 2030.
• Firms face rising costs, supply chain disruptions, and labor shortages. To mitigate risks and sustain growth, contractors are diversifying operations, focusing on key markets, and leveraging regional expertise.
• Read more here: ENR article link

The Veterans Who Build Show - New Episodes

• 21 Zach Scheel - Zach Scheel, P.E. served 5 years of active duty with the US Navy Seabees and deployed to Northeast Africa in support of Operation Enduring Freedom. Zach has over a decade of experience managing construction projects on three continents. Today, he is the co-founder of Rhumbix.
• 22 Lee Mills - Lee Mills served 4 years of active duty in the US Navy in Logistics and Damage Control on Aircraft Carrier USS Constellation. Lee has over 20 years of experience in scaling companies, including some of the first ConTech startups, and today is the CEO and Co-Founder of Pixly.
• The Veterans Who Build Show is streaming on all platforms: YouTube, Apple Podcasts, Spotify
• The VWB Show provides a platform for Veterans in the Built Environment to share their life stories, discuss the difficulties of transitioning from Military service to civilian life, discuss translatable skills—military to the Built Environment—and provide a roadmap for the younger generation of Veterans to learn from.
• The VWB Show is sponsored by Jet.Build

Mortgage Privacy Reform

• The trigger leads bill, designed to restrict credit reporting agencies from sharing borrower information without consent, became a 2025 priority for the mortgage industry after failing to pass the House despite Senate approval. Mortgage trade groups remain optimistic about its prospects in the 119th Congress.
• Procedural and policy concerns in the House Financial Services Committee, including objections to the legislative process, contributed to the bill’s failure. Similar issues had previously removed it from the Senate’s FY2025 NDAA.
• The bill has bipartisan support, with 93 House and 44 Senate cosponsors. It aims to address widespread complaints about unsolicited borrower solicitations through calls, texts, and emails. Advocates highlight its unanimous Senate passage as a key factor in renewing efforts next year.
• Credit bureaus proposed a softened alternative to the bill, allowing written offers while restricting phone solicitations, which could influence discussions when the legislation is reintroduced in 2025.
• Read more here: HousingWire article link

Construction Tech 2025 Predictions by Trimble

• Trimble predicts significant advancements in construction technology for 2025. AI and machine learning will drive efficiencies, automate processes, and improve decision-making, while interoperability among tech solutions will enhance data integration across platforms.
• GNSS technology will deliver more precise positioning but may face challenges from solar storms, requiring contractors to adopt mitigation strategies. Expanded partnerships and mixed-fleet data ecosystems will improve decision-making and jobsite productivity.
• Emerging tools in reality capture, drones, and predictive analytics will enhance worksite safety and asset management. Addressing labor shortages with automation, training, and task simplification will remain a priority.
• Adoption of subscription models, robotics, autonomous machines, and AI-powered design tools will mature, driving innovation in construction workflows and architectural visualization for greater productivity and collaboration.
• Read more here: For Construction Pros article link

Eastern North America's Largest Ski Project

• Killington, Vermont, will see the largest new development in the state since Spruce Peak, with a 450-acre ski village at the base of Killington Mountain Resort designed by Safdie Architects. Phase one includes a base lodge, restaurants, shops, and over 225 housing units.
• The project, which has been in planning for nearly two decades, received approval in 2023. Construction will begin in 2026 and be completed by 2028. It marks a major milestone in?Vermont's $3 billion capital investment over the next 25 years.
• Future phases could total 2,300 housing units, creating an estimated 1,000 contracting jobs and 1,200 permanent positions, further boosting Vermont’s economy.
• Read more here: Construction News & Review article link

Real Estate, AEC Industry Events

• London Real Estate Leadership: 2025 Forecast, London, January 15
• LA Commercial Real Estate CEO Outlook, Los Angeles, January 16
• InterFace Denver Multifamily 2025, Denver, January 22

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