Better business conditions and investor sentiment have pushed construction levels to a 12-year high with competitive tendering, building backlogs and a bump in new orders driving industry growth.

Construction grew at a record pace in July, courtesy of house building and commercial construction, to hit the highest level recorded in Ai Group’s Performance of Construction Index (PCI). With an increasing volume of projects entering the pipeline, the record pick-up in commercial construction reflects firming investor sentiment and the…