22 Jun/17

The construction and real estate sector continues to hold up for the language services sector in 2017

The construction and real estate sector continues to hold up for the language services sector in 2017
The construction and real estate sector continues to hold up for the language services sector in 2017 – EVS Translations

EVS Translations works across a number of global industries providing a network of support to clients through its offices across Europe and the U.S.A. Naturally, then, as a company we gain a sense of, or indeed experience the impact of, the global trends that affect these industries. Take the oil and gas sector – when the oil prices dropped and exploration slowed, the mood of the industry was palpable when we spoke with our clients.

Another major sector with which EVS Translations is actively involved is construction and real estate. In 2017, our offices across Germany have seen a huge surge in translation projects in this area and demand shows no sign of slowing. There is currently a constant stream of work coming not only from property investors and construction firms but also property law firms. This includes not only due diligence reports, but also marketing materials for new projects and annual reports for property funds and listed companies. The U.K. and U.S. markets also see a positive trend here, and it continues to be a reliable source of work across the Group as a whole.

But as with many industries, and particularly in the current economic and political climates of the U.K. and U.S.A., that positivity is mixed with a sense of caution. For the U.K. there is the question of Brexit, and the U.S.A. the question of President Donald Trump. Brexit has caused an increase on spending for imports of raw materials and the free flow of immigrant workers from Europe is under threat for an industry that is already facing a skills shortage. As for President Donald Trump, despite a relatively positive outlook in KPMG’s 2017 Real Estate Industry Outlook Survey, it places a question mark over the new White House Administration and what effect the President’s policies for tax reform and immigration will have on the sector.

As a translation service provider, it is the globalisation of firms in construction and real estate that is of particular interest because this is where the demand for translation is generated. We’ve helped firms across Asia, Europe and the U.S. bid for overseas projects with foreign language tender documentation; there has been a countless number of projects surrounding compliance, tax, environmental planning, and public relations; building plans for a leading U.S. brand looking to increase its bricks-and-mortar presence in the German market; not to mention technical translations for a military vehicle manufacturing facility. It’s a dynamic sector in terms of its demand for a complex range of translated corporate and technical content and EVS Translations is confident about future prospects. As ever, we move forward with a strong commitment to continuous improvement and quality assurance across our own in-house resources and continue to refine processes according to the evolving needs of our clients for this sector. Solid translation management for large volumes, file processing, data security and supporting linguistic excellence through strong terminology management and software solutions are all key.

So, as we race through 2017 and head closer to 2018, what are the prospects that will connect the construction and real estate sector with translation? According to the report Strength amidst uncertainty in 2017 by Moore Stephens, a global accountancy and advisory network, the U.K. construction and real estate firms it surveyed cite export activity as one strategy for growth. Though it’s by no means the priority – this is on staff training to overcome skills shortages – it is a trend that we watch with keen interest. On the other side of the Atlantic, our U.S. team looks forward to more translations generated by real estate firms as they continue to diversify their portfolio with global investments, and our European offices will continue to react quickly and flexibly to the diverse demands from its increasing pool of real estate clients.