According to the latest edition of the BCI Construction League, which ranks New Zealand’s top construction firms by the total value of projects that commenced construction the year prior, the top 50 builders collectively broke ground on 612 projects in 2023, valued at a combined $8.4 billion. 

With intensive tracking of over 20,000 projects across New Zealand, data specialist BCI Central offer unique insights into the companies spearheading progress in New Zealand’s construction landscape.

The annual report provides a detailed breakdown, including the total number of projects undertaken by each firm and their average project value across various sectors, including commercial, community, industrial, legal and military, and multi-residential.

The report found that the lion’s share – 283 projects valued at just over $4.8 billion – were undertaken by the Construction League’s top 10 firms.

Within the top 10 builders as a collective, only 6 per cent of project commencements in 2023 were in the Residential (3+ houses/units) space, while 31 per cent were in the Community sector. The top-performing sector amongst the top 10 was Commercial, at 38 per cent.

Auckland-headquartered Naylor Love secured the top spot for the first time, commencing construction on 75 projects at a combined value of approximately $820 million.

Watt & Hughes, Cook Brothers Construction, Icon, and Southbase Construction debuted in the top 10. At the same time, regular table toppers CMP Construction and Dominion Constructors maintained their dominance for a second year in the top 10.

BCI Central ANZ Research Manager Sarah Murphy said that despite mounting economic challenges, this year’s top 50 builders commenced construction on significantly more projects in 2023 compared to 2022.

“Construction activity is expected to slow in 2024 as the economic turbulence of recent years continues to unfold,” Murphy said. 

“Companies with robust risk management plans, the ability to adapt, and innovative strategies to boost productivity and enhance performance can still find success in this shifting landscape.”

Looking ahead, New Zealand’s construction industry faces a complex array of economic obstacles across the remainder of 2024 that will significantly pressure project budgets and timelines. 

“Housing has become a key priority amid a severe shortage, worsened by the Auckland floods and Cyclone Gabrielle,” Murphy said. 

“Community housing construction will play a vital role, supported by government initiatives like the Public Housing Plan and Whai Kāinga Whai Oranga for the delivery of Māori-led housing.” 

See the top 50 and all the insights by downloading your free copy of the report.

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