Bids for new construction contracts worth a combined $250 million have just come together on a single day, underlining Bermuda's current construction boom time.

In stock-market terms it was a 'multi-witching' day as tender bids for a multitude of projects clashed and construction firms frantically jostled to make sure they were in the running for the lucrative contracts.

Amongst the schemes were the building contracts for the new Hamilton Police Station and courts, the redevelopment of the former Bermuda Bakery site and a new addition to The Reefs resort on South Shore.

It is further evidence of the Island's booming construction sector, which last week former Government statistician Cordell Riley estimated was on course to almost top international business as the single biggest employment area by 2010.

While that assessment is not held by Alex DeCouto, who heads the Construction Association of Bermuda, he does believe the industry is enjoying a good spell and will see a rise in workforce numbers in 2008 as more projects come on line.

Last week Mr. Riley, managing director of Profiles of Bermuda, projected construction jobs to top 5,100 by 2010. Relying on the most up-to-date Department of Statistics figures for construction employment, Mr. DeCouto wonders how much store Mr. Cordell set by the anticipated construction of various hotel projects that have been mooted, and in some cases passed through the planning process.

Because he said if even one of the big schemes gets off the ground it is likely to have an effect on the viability of the others, possibly causing them to be put on hold, or rethought.

So to factor in all the current possible hotel projects to construction industry workforce projected figures for the next three years would create a figure much higher than the likely reality.

"Before one of these projects gets started you have to line things up, it's like a stack of cards, with the finance, the hotel operator – all those things before it gets off the ground," said Mr. DeCouto.

At the moment the Tucker's Point hotel, due for completion next year, is the only truly new hotel project to be started in more than 30 years.

Of the many others that have been mooted, including the controversial Jumeriah Southlands, it remains to be seen how many — if any — will actually become more than drawings on paper.

"What is the likelihood of getting all of these (projects) started? There has been interest in building hotels here and I would hope that one of them gets off the ground because the construction industry needs a steady flow of projects," said Mr. DeCouto.

"We can see growth in the industry but the question is what percentage of the total jobs does construction consist off?

"At the moment it is about nine percent. Around ten percent is a good level, but if it gets to the point that construction gets to be the biggest (employment sector) percentage, say 15 percent, then that is unbalanced," said Mr. Decouto.

He point out that logic dictates that even if construction were to briefly become the biggest sector, the fact that the development projects are offices and hotels would mean that those sectors (commerce/business and hotels/tourism) would then expand to make use of the new properties built.

According to Department of Statistics figures employment within the construction industry has risen from 2,917 in 2002 to 3,653 last year, of which only 1,079 of last year's positions were filled by non-Bermudians.

Construction leader Mr. DeCouto says 2007 will probably show an overall slight dip in the level of construction on the Island because of previous planning department delays in new jobs being approved, which led to a dip in activity.

If anything, he feels 2008 will be the year that sees a notable rise in construction employment.