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Brexit vote undermining UK construction sector

A giant building site that’s what many parts of London look like.

Particularly in the financial district the City of London, but it’s unlikely to continue after the vote in favor of Brexit as the construction industry is shrinking.

The architect Eric Paree warns it will take years to come to terms with the Brexit shock, his company depends on close cooperation with European partners for all their projects.

“The interior of buildings and the structuring of buildings is one that we have a plentiful supply of but actually the expertise for making the envelope of buildings, the external skin is not here, we are absolutely reliant on European industry” says Eric.

Eric Paree employs roughly 90 people from 20 different nationalities many of them from Europe, they are worried that they won’t be allowed to work in the UK in the future even though the multinational workforce is key to the firm’s success.

They have just won a competition to build the highest building in the financial district it’s still not clear how a deal between the UK and the EU would look like, the City of London is especially dependent on accessing the single market, it’s feared that about 100,000 jobs could be lost in case of a so-called heart Brexit with no access to the single market.

Wait and see what Brexit really means that’s how many in the city approach the subject.

“I work for Lloyds and its obviously not good for our licensing and how we’re going to do business in the future, I think things going to drastically different” says one city worker.

Another says “It’s good to take back control from Europe I think we will do really in the next few years” .

Another citizen isn’t convinced “I’m very pessimistic and every time I see a report that tells me that everything’s going to be fine its because it hasn’t started yet and when Brexit happens, if it ever does it will be a disaster”.

Eric Paree believes his current projects will go ahead despite the Brexit vote. At the site of where a new 73 story skyscraper is supposed to be built if it gets planning permission, it was commissioned by Singaporean developers the architect worries that the vote for Brexit will make investors more guarded.

“Clients have taken not optimistic view and thrown to certain degree caution to the wind to build wonderfully that’s the thing that I think will get disrupted people will be more cautious less likely to take brave decisions which make distinguished buildings”.

A lot is going to change in London that much seemed sad and not just the skyline will be affected.

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