Property and construction group Henry Boot has reported a strong start to 2026, with resilient demand across its residential land, industrial and logistics developments, and premium housing divisions, despite growing concerns over global instability and domestic political uncertainty. Providing a trading update ahead of its AGM, the Sheffield-headquartered business said Hallam Land has either sold or agreed terms on more than 2,600 residential plots so far this year, while its development arm HBD has seen more than 231,000 sq ft of industrial space either let or under offer. Meanwhile, Stonebridge Homes has continued to deliver stable sales performance, with customer demand remaining in line with both expectations and last year’s figures. Chief Executive Tim Roberts said the company continues to benefit from strong structural demand across its key markets, although recent geopolitical tensions in the Middle East and political uncertainty in the UK are beginning to impact confidence levels. He noted that buyers are becoming increasingly cautious, with larger transactions taking longer to complete, while higher energy and material prices are creating renewed inflationary pressures across construction supply chains. Despite these headwinds, Henry Boot said it remains on track to achieve profit before tax in line with 2026 market expectations of £20.2m. The group’s strategic land business, Hallam Land, continues to benefit from what it described as a “highly favourable” planning environment. The business is targeting the submission of planning applications for a further 10,000 plots during 2026 and has increased its total land bank to more than 108,000 plots following the acquisition of two new sites. In the industrial and logistics sector, HBD’s £66m development programme remains on schedule and within budget, with particularly strong interest being reported across the Origin joint venture portfolio. The developer also confirmed continued progress at its flagship £1bn Golden Valley scheme in Cheltenham, adjacent to GCHQ, where detailed planning consent was recently secured for Phase 1, including the National Cyber Innovation Centre. Henry Boot added that long-term fundamentals across residential, industrial and urban development markets remain positive, positioning the business strongly for medium-term growth. Building, Design & Construction Magazine | The Choice of Industry Professionals

Glenigan | A Hubexo Product (Glenigan), one of the construction industry’s leading insight and intelligence experts, releases the May 2026 edition of its Construction Review. The May Review focuses on the three months to the end of April 2026, covering all major (>£100m) and underlying (<£100m) projects, with all underlying figures seasonally adjusted. It’s a report providing a detailed and comprehensive analysis of year-on-year construction data, giving built environment professionals a unique insight into sector performance over the past year. Looks can be deceiving; on first appearance there are reasons to be cheerful. Superficially, the May Review presents a sector rebounding, with detailed planning approvals rising by 8% against the preceding three months, complemented by a stronger 29% increase in main contract awards and a 22% uplift in project starts. However, scratch beneath the surface and a different picture emerges, when these figures are compared against the previous year’s result. Detailed approvals hit rock bottom, nose-diving 54% year-on-year, while main contract awards have slipped 11% and project starts are 17% lower. It highlights how the UK construction sector remains stuck in the woods with little current direction to guide it out. Looking ahead, the industry’s trajectory will continue to be shaped by wider economic and policy developments. Elevated borrowing costs, ongoing viability challenges and cautious investor sentiment have constrained activity over the past year. According to Glenigan’s Economic Director, Allan Wilen, “Whilst this encouraging uptick will come as some relief after months of decline, the sector must not risk falling into a fool’s paradise. The true impact of the US/Iran War is yet to be felt and, if it’s anything similar to previous major global events, then the aftershock will ripple through markets, causing disruption well after the conflict, hopefully, comes to an end. An early resolution of the current impasse and the ending of the Strait of Hormuz blockade would start to rebuild investor confidence and ease pressure on the construction industry.” “However, last week’s King’s speech provides some clarity to latch onto and, once the Downing Street shenanigans have died down, a degree of certainty may return to help get us back on track. There are windows of opportunity in niche areas which savvy contractors are already involved in, or starting to wake up to. So, whilst the outlook remains overcast, it’s not a time to stand and stare, but to seize opportunity where it exists to weather the current climate and be ready for the sunshine when it eventually arrives.” Taking a closer look at the May Review’s highlights and the lowlights: Residential Residential held its ground during the three months to April, with project starts dipping just 2% year-on-year while main contract awards climbed 9% and detailed planning approvals jumped 17% on 2025 levels. Quarter-on-quarter performance was even more upbeat, buoyed by major projects coming to the fore. Social Sector Housing stole the show, accounting for 51% of starts and rocketing 236% year-on-year, though private housing and private apartments told a different story, falling 45% and 56% respectively. The wider outlook is finely balanced: Nationwide reported a 3% lift in house prices, while Halifax noted a dip amid geopolitical jitters, and both will likely shape residential construction in the months ahead. Regionally, Yorkshire & the Humber led the charge, with project starts powered largely by sizeable social housing heating works in Leeds. London also enjoyed a strong run, cementing its status as a key residential market. Elsewhere the picture was patchier, with the South East, East Midlands and Scotland all sliding back against the previous year. Non-residential Non-residential was a real mixed bag during the three months to April. Offices put on a show, with project starts soaring 217% year-on-year on the back of an eye-catching 868% rise in major schemes worth over £100 million. Detailed planning approvals climbed 30%, though main contract awards slipped 57%. Hotel & Leisure also offered cheer, with planning approvals leaping 80%, even as starts dipped 3% and awards eased 29%. Health saw approvals rise 32%, hinting at a pipeline gathering pace despite a 39% drop in starts. Retail, Education & Industrial were broadly muted, while Community & Amenity had a tough time of it, with starts down 60% and contract awards tumbling 83%. Regionally, London ruled office activity, lifted by the British Library Extension development. Scotland topped Hotel & Leisure starts after strong year-on-year growth, while Wales emerged as a Health hotspot with starts up 748%. Scotland also led Education starts (+68%), with the North West taking top spot for both Retail and Community & Amenity. Civils & Infrastructure Civil Engineering had a tough quarter, with project starts tumbling 72% year-on-year and detailed planning approvals diving 87% against the previous year. Main contract awards offered a flicker of stability, holding steady against 2025 levels in an otherwise challenging period. The numbers point to a clear slowdown in project initiation, though there’s brighter news further out, with expected investment in road and rail infrastructure from 2026/27 set to lift activity, alongside continued spending in utilities and the water industry. Roads projects led the way despite a hefty decline, while water-related schemes brought welcome stability, and harbour and ports work also slipped back. Regionally, the East of England led the field on project starts, scooping 35% of total value following a 133% year-on-year rise. The East Midlands topped planning approvals with a 31% share, up 31% on the previous year, though the region itself saw a moderate 6% dip in starts. London experienced a similar 5% dip in starts. Building, Design & Construction Magazine | The Choice of Industry Professionals

Airport investment is accelerating across the UK, opening up a wave of new construction opportunities. Despite worries about elevated oil prices and potential jet fuel shortages this summer, several major airports are pressing ahead with expansion and modernisation programmes. Gatwick, Stansted, Luton, Manchester and Bristol all have schemes in motion or in planning. While a third runway at Heathrow may still be years away, a substantial capital programme to upgrade existing facilities is being lined up. Sector momentum is underlined in the April Glenigan Construction Review, which reports airport-related infrastructure starts rising to £202 million in the three months to March, accounting for 13% of all civil engineering project starts over the period. At London Gatwick, planning permission is in place for the £2.2 billion North Runway project, due to begin next year and lift capacity from 61 million to 74 million passengers annually. Bechtel is the project manager (Project ID: 03225160). Further opportunities at Gatwick include the £10 million Hangar 7 scheme in West Sussex, where tenders have been returned and work is expected to commence later this year (Project ID: 25609119). A £595,000 extension at the South Terminal is also scheduled to start before year-end (Project ID: 18107741). At Stansted Airport in north Essex, Laing O’Rourke has been named main contractor for a £150 million passenger terminal extension. Due to get underway this summer and run for 18 months, the scheme comprises a three-bay extension to the existing building and three walkways totalling 16,500 sq m. A separate £480 million infrastructure scheme at Stansted to deliver two new taxiways across a 7-hectare site is also poised to proceed, with a potential start later this year. In Bedfordshire, detailed consent has been granted and the government is backing a £2.4 billion expansion at Luton Airport that would almost double capacity to 32 million passengers per year. Although environmental legal challenges have caused delays, work is pencilled to start early next year and run for 36 months. At Manchester Airport, the £440 million terminal modernisation programme is nearing completion. In addition, Kier Construction (North West) has been appointed civil engineering contractor for a £65 million rail platform remodelling to accommodate future passenger growth, due to begin this summer and last 35 months. Regional capacity is also set to increase. At Bristol International Airport, Farrans began a £30 million South Terminal extension this spring. Meanwhile, outline plans have been submitted for a £289.2 million expansion at Bristol to raise annual capacity to 15 million passengers. If approved, the 86,000+ sq m scheme could start next spring and run for 24 months. Regardless of the fate of Heathrow’s third runway, plans have been revealed for a major redevelopment of Terminal 4, including a new multi-storey car park and an upgraded check-in hall, alongside a dedicated baggage system for Terminal 2. Valued at £1.3 billion, the project could begin this autumn, subject to approval, and run for 62 months. Building, Design & Construction Magazine | The Choice of Industry Professionals

Public sector organisations across Scotland are set to benefit from a more flexible and streamlined procurement process, following enhancements to one of their key added value services. The expanded Call Off Service devised by the Scottish Procurement Alliance has been designed in direct response to partner feedback, making it easier for public bodies to access expert procurement support, reduce internal workload, and deliver projects more efficiently through SPA solutions. By supporting key stages of the procurement process, from developing tender documentation to publishing notices and managing mini competitions, the service ensures full compliance with procurement regulations while significantly easing the administrative burden on already stretched teams. Crucially, the removal of previous framework restrictions means public sector partners can now access this support across a broader range of SPA solutions providing greater flexibility and faster access to the expertise required to move essential projects forward. Daniella Bryans, Senior Procurement Officer at SPA, said the changes reflect a clear commitment to improving outcomes for public sector organisations: “Throughout the years, our Call Off Service has assisted numerous partners, enabling us to develop substantial expertise in delivering and managing projects from initiation right through to contract award and delivery. “By widening the scope of the service, we can offer more flexible support to our public sector partners. By utilising the service, partners reduce pressure on their internal teams whilst still ensuring compliance. Ultimately the services helps our partners to award contracts and deliver projects more efficiently.” She added that the benefits extend beyond process improvements, driving stronger project outcomes overall: “When procurement is well-supported, public sector organisations are able to focus more on doing what they do best, rather than needing to manage complex procurement processes. “At the same time, contractors receive clear documentation and well-defined specifications, which leads to better bids, a more competitive process and ultimately stronger outcomes for the organisations delivering these projects.” While the enhanced service is designed to support public organisations, it also creates a more structured and accessible pipeline of opportunities for appointed companies across Scotland. In addition to expanding the Call Off Service, SPA has further strengthened its technical offering with construction industry expert Alan Webster joining them as Technical Support Officer. With more than 30 years of experience, Alan brings extensive knowledge of delivering large-scale housing developments, public building refurbishments, and specialist projects, including those involving Reinforced Autoclaved Aerated Concrete (RAAC). His background includes working closely with public sector organisations on hospitals, schools, retrofit programmes and major refurbishment works. In his role, he supports partners throughout the project lifecycle, offering guidance from early engagement through to delivery, including attendance at pre-start and progress meetings and advising on technical specifications. “Having spent many years delivering projects on the ground, I understand the pressures public sector organisations face and the importance of getting procurement right from the outset,” Alan said. “Clear communication and strong support at each stage helps ensure projects are delivered efficiently and successfully.” SPA believes that combining enhanced procurement support with practical, real-world expertise will further strengthen outcomes for public sector organisations across Scotland. As demand continues to grow across housing, retrofit and infrastructure, the expanded Call Off Service will play a key role in helping partners deliver projects at pace while still ensuring value, compliance and quality are maintained. Building, Design & Construction Magazine | The Choice of Industry Professionals

The Port of Dover has appointed a new group of contractors to support a long-term programme of civil engineering, marine and infrastructure works. The harbour authority has selected 14 firms across two multi-year frameworks, covering a wide range of projects including utilities, berth upgrades, highways, structures and building works. The appointments come as the UK’s busiest ferry port prepares for a major programme of investment to support future freight growth, ferry electrification and expanded cargo operations. FM Conway, Jackson Civil Engineering, Mitie and UK Power Networks Services were among the biggest winners, securing places on both the major projects and minor works frameworks. Knights Brown also secured positions on both agreements. The major projects framework will run for six years, until 2032, and will cover schemes valued at more than £3m. A separate four-year framework, running until 2030, will be used for projects worth less than £3m. Other firms appointed to the frameworks include Associated Asphalt Contracting, Blu-3, Concrete Repairs, Costain, CPE Projects, McLaughlin & Harvey, M Group Transport, REDEC Refurbishment and Walker Construction. The frameworks will play an important role in the Port of Dover’s wider modernisation plans. The port is currently progressing its Port of Dover 2050 masterplan, which aims to create a more efficient, sustainable and technology-led harbour. Planned investment includes improvements to ferry berths, expanded cargo handling facilities, upgraded roads and utilities, cruise terminal enhancements and new logistics development land. The new contractor line-up gives the port access to a broad range of specialist expertise as it prepares to deliver the next phase of its long-term transformation. Building, Design & Construction Magazine | The Choice of Industry Professionals

Hampshire Trust Bank (HTB) has provided a £13.5 million  facility to support the repositioning of the Kirkstall Brewery campus in Leeds, refinancing existing debt and partially repaying a previous lender. The 18-month facility is secured against a 664-bed former student village in Kirkstall. This comprises a 442-bed parcel with full planning consent for conversion into 151 Class C3 apartments, alongside 202 retained Purpose Built Student Accommodation (PBSA) beds, creating a scheme with multiple potential end uses across Private Rented Sector (PRS) and student accommodation. The structure provides time for asset management and stabilisation, enabling the repositioning of the scheme while maintaining flexibility across a range of exit routes. These include disposal or refinance of the PRS element, sale or long-term leasing of the PBSA accommodation, or a whole-site disposal. No development is planned during the loan term, with refurbishment of the PBSA element funded by borrower equity. The transaction builds on progress already achieved at the site, including the disposal of an eastern parcel to an institutional investor and a long-term lease agreed with Leeds City Council across part of the retained accommodation. The lease is expected to deliver approximately £2.5 million per annum of savings to the council over its term. Full planning consent was granted by Leeds City Council in November 2025 for the conversion of the PRS parcel, providing a clear basis for the next phase of the scheme. Introduced by Johnny Grassick, Associate Director at GLPG, the deal was led by Alexia Evans, Lending Director at Hampshire Trust Bank, supported by Olivia Emmett. Alexia Evans, Lending Director at Hampshire Trust Bank, said: “This was a scheme where the key consideration was how the asset would be managed over time, not just its position today. “With planning in place and clear progress already made, the focus was on structuring a facility that allows that to continue without forcing an early decision, while remaining aligned to how the site will be worked through in practice.” Johnny Grassick, Associate Director at GLPG, said: “There wasn’t a single, defined exit here, but that reflects the strength of the site. “With planning in place, a number of viable routes forward and progress already achieved on parts of the scheme, including the lease to Leeds City Council, the key was putting a structure in place that didn’t restrict those options too early. “This gives the borrower the flexibility to build on that momentum and take the right route as the scheme evolves.” Neil Leitch, Managing Director, Development Finance at Hampshire Trust Bank, said: “This type of transaction is becoming more common where the focus is on repositioning existing assets rather than moving straight into development. “Where planning is already in place, the emphasis shifts to how the scheme is managed, how income is stabilised and how the exit is delivered over time. “That requires a structure which gives the borrower the flexibility to work through those stages properly, rather than forcing a single outcome too early.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Today, Glenigan releases the May 2026 edition of its Construction Index. The Index focuses on the three months to the end of April 2026, covering all underlying projects, with a total value of £100 million or less (unless otherwise indicated), with all figures seasonally adjusted.  It’s a report which provides a detailed and comprehensive analysis of year-on-year construction data, giving built environment professionals a unique insight into sector performance over the last 12 months. The May edition continues the general theme of sector-wide decline, as the US-Iran War drags on, disrupting international supply chains.  Overall, the value of work starting on site in the three months to April fell by 9% and finished a fifth (-22%) below 2025 levels. Whilst the fall is less severe than seen during previous months, there’s a general fear that the industry is within the eye of the storm and these results are a harbinger of potentially worse to come, as the supply chain disruption really hits home. Aside from international turmoil, political in-fighting on the home front has led to policy stagnation and a lack of investor and consumer confidence means contractors and subcontractors are keeping their shovels clean until greater certainty returns. Commenting on the Index, Glenigan’s Economics Director, Allan Wilen said, “Construction markets are becalmed. Faced with heighted geopolitical uncertainty generated by the Iran War, investors are reassessing their development plans. Whilst a rise in office, retail and health projects helped stabilise non-residential starts during the three months to April, both residential and civil engineering starts continued to decline. Parliament has now been prorogued and hopefully the King’s Speech, which comes after a successful State Visit to the United States, will provide an opportunity to reassess and reset the national direction.” He cautions, “However, whatever the outcome of the coming weeks, there’s a general consensus that there will be fewer opportunities in the back half of this year, which also implies far fiercer competition. Savvy players will no doubt have strategies in place to capitalise on this risk and opportunity, and I’d urge those who are currently behind the curve to start seriously considering their own game plans and how they can stay afloat during an upcoming period of disruption. Niches, including data centres, purpose-built student accommodation and supermarkets, present pockets of growth and those than can either already service or diversify to meet requirements stand to weather the headwinds currently gathering force.” Taking a closer look at individual sectors and verticals… Sector Analysis – Residential Residential construction remains stuck in a downward spiral as buyers hesitate and demand continues to stagnate. Developers face massive economic pressures, coupled with steep regulatory hurdles and planning headaches, stifling activity. Glenigan’s data revealed that starts declined 8% during the Index period, falling a third(-33%) against 2025 figures. Drilling deeper, private starts plummeted 39% compared to last year, dropping 9% on the preceding three months. The fall for social housing was slightly less severe, dipping 4% against the previous three months and it fell 16% on last year. Sector Analysis – Non-Residential There were a few bright spots within the non-residential verticals which posted a relatively modest increase of 2% against the previous year and remained flat during the Index period. This slight uptick was predominantly driven by offices, which experienced an exceptionally strong period, rocketing 99% over the preceding three months and remaining an impressive 94% above 2025 results. According to Glenigan, this was largely driven by activity in the capital, with standout projects like the £50 million 105 Old Broad Street office refurbishment in the City of London contributing to growth. In other verticals it was a mixed bag. Encouragingly, retail increased 13% against the preceding three months, but this renewed momentum failed to make up for lost ground on 2025 levels (-9%). Likewise, health rose 12% compared to the previous three months but faltered compared to last year’s figures (-10%). Conversely, education fell 10% during the Index period but finished 12% up on 2025 results. Unfortunately, all other verticals saw substantial decline as the geopolitical turmoil started to really bite, disrupting vital supply chains, driving up costs and dampening confidence, inevitably leading to delays. As Glenigan’s data show, this was most acutely seen within civils where work starting on-site crashed, tumbling 42% against the preceding three months and seeing performance slashed almost in half (-47%) compared to the previous year. Diving into the detail, Infrastructure work starting on-site fell 19% against the preceding three months and declined by 48% on last year. Utilities fared even worse, nosediving 56% against the preceding three months and by 46% against 2025 levels. Community and amenity project-starts also registered a particularly poor period, cascading by over a third (-39%) during the Index period to stand 45% down on the previous year. Slightly less severe, yet still disappointing, Hotel & Leisure activity stumbled, having declined 32% against the preceding three months to stand 17% down against the previous year. Similarly, Industrial fared no better, falling 23% against the preceding three months, finishing 29% below the previous year. Regional Outlook Regionally, there were a handful of outliers with London experiencing a particularly robust Index period, soaring 25% against the preceding three months to finish 59% up on 2025 results. As previously noted, a strong performance in the office sector helped drive this growth. Northern Ireland was also in clover, rising 20% compared to the preceding three months to stand 53% up on the previous year. More modestly, yet no less impressive, the North East also performed well, posting a 14% increase during the Index period, up by almost a fifth against the previous year. Elsewhere, the picture painted was one of decline. The West Midlands experienced an especially poor period, declining 17% against the preceding three months and declining 36% against the previous year. The South West also performed poorly, declining 44% against the preceding three months to stand a dismal 60% down against the previous year. Not to be outdone, the South East also declined, by 17%

Royal BAM Group has reported a solid start to 2026, with revenue and adjusted earnings rising during the first quarter. The Dutch construction group said its order book remained steady at €13bn, while its solvency had improved and its cash position remained robust. The update also pointed to stronger profitability in the company’s UK construction division, supported by disciplined tendering and strong project delivery. Chief executive Ruud Joosten said BAM’s revenue and adjusted EBITDA had increased further in the first quarter, with both main divisions and Belgium contributing to the improved performance. He added that Construction UK had continued to strengthen its contribution, helped by the company’s selective approach to bidding and focus on execution. BAM said it is seeing strong opportunities across several key markets, including energy transition, infrastructure, defence, and sustainable and affordable housing. The group said these areas are being supported by government investment and initiatives in the Netherlands, the UK and Ireland. In the UK, BAM’s civil engineering arm continued to perform strongly, while the wider Construction UK business secured a number of new projects during the quarter. These included a contract for Wales High School in Sheffield, which is designed to meet net-zero operational standards, as well as the Eastwood Park Leisure Centre, theatre and library scheme for East Renfrewshire Council in Scotland. BAM has also been selected for the Department for Education’s multi-year CF25 school framework, strengthening its pipeline in the education sector. In addition, BAM’s Civil Engineering UK business secured a place on the refreshed Procurement Partnerships North West Framework. The results suggest BAM is entering 2026 with a stable order book, improving UK performance and a clear focus on sectors with long-term growth potential. Building, Design & Construction Magazine | The Choice of Industry Professionals