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Amid the COVID-19 crisis, the global market for Architectural Services estimated at US$319.2 Billion in the year 2020, is projected to reach a revised size of US$405.5 Billion by 2027, growing at a CAGR of 3.5% over the analysis period 2020-2027.
Construction & Project Management Services, one of the segments analyzed in the report, is projected to record a 3.5% CAGR and reach US$152.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Engineering Services, Interior Design Services segment is readjusted to a revised 3.7% CAGR for the next 7-year period.
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SAN FRANCISCO, May 17, 2021 /PRNewswire/ The global architectural services market size is anticipated
to reach USD 474.36 billion by 2028, registering a CAGR of 4.7% over the forecast period, according to a new report by Grand View Research, Inc. Investments in infrastructure projects such as smart city, and renovation of aging infrastructure in developed and developing economies is expected to fuel market growth. Furthermore, subsequent government efforts and commitment to drive investments in the infrastructure sector are expected to favor industry growth. For instance, in January 2019, the Saudi Arabia government announced its plan to develop a zero-carbon city as a part of the Neom project, subsequently contributing to the country s economic growth.
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The proposed development seeks to establish a bespoke concept function facility dependent upon the lush natural and landscaped surrounds of the property. The proposed development maintains the natural functions and scenic qualities of the landscape of the site and surrounding coastal township of Midge Point. The proposed wedding and corporate function venue site at Midge Point. Picture: Urban Planning Services documents submitted to Mackay Regional Council. The proposal will remain small-scale and ensure that it integrates with existing and future development . The centre would have a maximum capacity of 150 people onsite at any one time, parking available for 21 vehicles, and guests would be bussed in and out as the primary method of transport.
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Mackay Regional Council has approved the development of a new function centre at Midge Point, dismissing one councillorâs claim that it could potentially lead to a âsewage overflowâ.
Developers will need to meet more than 30 conditions if they go ahead with their plans â submitted to the council in April last year â for a wedding and corporate events centre on Lawson St.
Councillors Laurence Bonaventura, Alison Jones, Martin Bella and Russell Seymour voted against approving the venue, but this fell short of the majority required to flush the proposal.
Cr Bonaventura said he believed the development should not go ahead because it was proposed for rural residential zoned area and because of his own concerns about sewage overflow.