Hong Kong Construction Booms

14 Mar 2013

The total gross value of construction works carried out in 2012 by main contractors in Hong Kong increased 24.2% in nominal terms on the previous year.

The government’s census and statistics department found that HK$159.6bn (£13.8bn) of work was carried out.  After discounting the effect of price changes, the total gross value of work grew 15.6% in real terms.

Residential building projects accounted for the largest share, amounting to HK$36.8bn, up 40.9% in nominal terms. Transport projects were the second largest, totalling HK$29.9bn, up of 53.1% in nominal terms.

The gross value of construction at private-sector sites totalled HK$48.5bn in 2012, up 37.5% in nominal terms, or 30% in real terms.

For public-sector sites, the gross value amounted to HK$53.4bn, up 26.9% in nominal terms, or 21% in real terms.

The gross value of construction work carried out at locations other than designated construction sites amounted to HK$57.7bn in 2012, up 12.8% and 1.5% in nominal and real terms.

Construction work carried out by main contractors in the fourth quarter increased 23.9% in nominal terms, or 15.3% in real terms, over a year earlier to HK$45.4bn.

The gross value of construction works at private-sector sites grew 24.4% in nominal terms in the fourth quarter, while that at public-sector sites rose 32.5%. Work at locations other than construction sites rose 16.3% in nominal terms.

Source: http://www.theconstructionindex.co.uk/news/view/hong-kong-construction-booms