Background information:
A construction site needs a fence to keep out curious people and thieves. In urban areas, there are more challenges. The site is often cramped, so the new building is often only a few yards away from the street. Yet nothing may end up falling on people or cars. There are curious people in the city who would like to get a glimpse of what is happening at the construction site. Often a fence like this is covered with graffiti or the fence is already 'decorated' by the contractor with impressions of what will be built.
Architectural details:
The fence with peepholes is, as the name suggests, provided with holes at various heights allowing interested parties to see what is happening at the construction site. Because this type of construction site fencing is often close to the building, it has a sloping upper part that cathes any falling objects and lets passersby pass carefree and secure.
To save costs, these type of fences are constructed of simple plywood or OSB boards, often pine beams serve as construction.