You are here

New York City's construction freeze is adding to industry's debt risk

With non-essential workers ordered to stay at home at least until the end of April, contractors and vendors might not be able to survive.

New York

NEW York City's construction shutdown has derailed a US$66 billion industry, increasing the risk on billions in loans issued to fund projects across the city.

Before the novel coronavirus outbreak, more than 450 construction projects were underway in New York, where...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to