Real estate and construction are major industry sectors which have a huge impact on the economic health of both the local and global economy - as evidenced by the 2008 financial crisis triggered by the sub-prime property crash in the USA.
These industry sectors are capital and labour intensive, extremely high-risk and often highly regulated. Both corporate and personal fortunes can be made and lost through investment in property which is increasingly regarded as one of the most significant asset classes.
With environmental concerns rising up the public and world agenda, the demand for 'green' buildings and homes is having a major impact on the development of new building technologies and materials to the point where the construction and real estate sectors affect almost everyone. Urban regeneration is also high on many government agendas in the recognition that healthy societies need good environments in which to flourish.
The sectors rely heavily on specialist professional advisers to provide guidance and value-added business solutions to ensure companies in these sectors meet governance and statutory requirements for the benefit of all stakeholders.
Across the PKF International network, there are many firms which specialize in advising their real estate and construction clients on a wide range of business, financial and governance issues.
Below is a selection of some of the countries in which PKF International member firms have particular expertise in the real estate and construction sector: