Construction failing to capitalise on Olympics, says CIOB

The construction industry is failing to capitalise on the success of the Olympics, the Chartered Institute of Building (CIOB) has warned.

All six permanent London Olympic Park venues were completed ahead of schedule, with the final Zaha Hadid-designed Aquatics Centre completed last week.

But CIOB chief executive Chris Blythe said the industry has so far failed to pick up the plaudits it deserves.

“The closest praise so far have been back-handed compliments that ‘at least it’s not another Wembley’,” said Blythe.

“Yet it’s the people of UK construction who have turned those five-ringed dreams into reality.”

98% of the facilities for the Games have been built by British companies, worth almost £6bn to the industry. An estimated 75,000 firms have won work related to the 2012 Olympics.

In a statement the CIOB said: “The UK construction industry has built one of the UK’s most important and iconic regeneration developments of the 21st Century.”

“The UK should be proud of its construction industry for creating a landmark development on time, on budget, and with an excellent health and safety record in tough economic times and with a barrage of complexity.”