Construction on public-sector sites increased 33% in nominal terms to HK$9.2bn - an increase in real terms of 29.9%. But in contrast, the value of construction on private-sector sites totalled HK$8.5bn, down 8.6% in nominal terms compared with a year earlier. In real terms, it fell 17.4%.
The gross value of construction work carried out by main contractors in Hong Kong in the second quarter was up 4% on the same period last year but this represented a fall of 1.9% in real terms.
The Census & Statistics Department announced that the value of work in the quarter was HK$29.4bn (£2.38bn). After discounting the effect of price changes, the total gross value of main contractors’ construction work fell 1.9% in real terms.
The gross value of construction work carried out by main contractors away from construction sites amounted to HK$11.7bn, down 3.1% in nominal terms compared with a year earlier. In real terms, it fell 7%. This category included work such as minor new construction activities, decoration, building repair and maintenance work.
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Residential building projects accounted for the largest share in the total gross value of construction works performed at construction sites in the second quarter. Their gross value amounted to HK$6.4bn, down 0.7% in nominal terms compared with a year earlier.
Transport projects constituted the second largest group of site works. Their gross value totalled HK$3.8bn, up 72.2% in nominal terms over a year earlier.
On a seasonally adjusted quarter-to-quarter basis, the gross value of construction works main contractors performed fell 6% in nominal terms and 4% in real terms in Q2 compared with Q1.
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