2nd Annual Modular, Prefab and Construction Tech Senate 2023 | Trueventus | 21 November 2023 | Grandior Hotel Prague, Na Poříčí 1052/42, 110 00 Florenc, Czechia

Modular construction has proven to be a more profitable & cost effective way of construction with correct planning & implementation. In an era where labour shortages have drastically impacted the productivity of companies to the point they’ve been forced to shut down. A report by the Financial Times in June 2022 has stated that thousands of local builders & contractors in the UK have collapsed including veteran companies that have been in the business for over 40 years due to rising costs. Construction companies need to heed to the sign of times; adapt or perish. Modular construction & other similar Modern Methods of Construction are the way forward.

Companies that have been quick enough to adopt modular methods have seen significant increase in productivity. Volumetric Building Companies (VBC), leaders in multi-family housing with markets in UK, Poland & Serbia are examples of this. With implementation of MMC, they were able to complete a project which would’ve taken them 24 months, within 11 months. That’s more than a year in time that they’ve saved. Not only do MMC processes reduce the time required on-site, but as a direct side effect, there is less need for resources, labour and materials storage.

Growing demand for Building Information Modelling, Modular construction, and building materials industry is being observed across the Czech Republic Construction and Infrastructure market. The Czech Republic construction market size was valued at $48 billion in 2021 while also being supplemented by advancements in modular & prefab methods with estimated construction and infrastructure growth of 6% CAGR till 2026.