THE north must adopt the latest standards and technologies in property and construction to help ensure the region's economy can remain competitive in a post-Brexit world, the new chairman of the Royal Institution of Chartered Surveyors (RICS) Northern Ireland has urged.
Brian Henning, who takes on the prestigious role from Andy Tough, says that with political stasis in the absence of a Northern Ireland Executive and with challenges for the economy associated with Brexit, it is vital for the local property and construction sectors to equip themselves for the future.
Mr Henning is a highly experienced property development and asset management director with experience across the UK and Ireland.
During his time in office, he will lead the RICS regional board and represent the organisation locally in engagement with members, stakeholders and media.
RICS, which has a remit to act in the public interest through its Royal Charter, has more than 3,000 members in Northern Ireland including those working across the land, property and construction industries as well as students.
Mr Henning pointed to a significant gap in private sector investment in infrastructure, which he insists needs urgently addressed.
He said that one way of the construction industry making Northern Ireland more attractive to international investors was to adopt International Construction Measurement Standards (ICMS). Currently this is not centrally adopted locally, and its usage in the private sector is patchy.
He explained: “ICMS is used effectively in other parts of the world to provide greater global consistency in the classification, definition, measurement, analysis and presentation of accurate construction costs at a project, regional, state or national or international level.
"The measurement provides the kind of consistency and accurate reporting of costs that inward investors increasingly demand, and government projects need to assess the economic viability of projects and maximising their impact.
“Our message to government departments, the construction sector and other stakeholders is very clear. Widespread adoption of ICMS provides the opportunity for significant competitive advantage.”
