The total gross value of main contractors’ construction works in the first quarter rose 14.4% in nominal terms over a year earlier to HK$43.2bn, according to the latest quarterly figures from the Census & Statistics Department. After discounting the effect of price changes, the total gross value of construction increased 7.5% in real terms over the same period.
Transport accounted for the largest share in the total gross value of construction works performed at construction sites in the first quarter. Residential building projects constituted the second largest group of construction site works. The gross value of construction works performed in respect of these projects totalled HK$9.3bn, up 8.8% in nominal terms over a year earlier.
The gross value of construction work at public sector sites Hong Kong rose 24% in nominal terms from a year earlier to reach HK16.3bn in the first quarter. In real terms the rise was 26.2%.
The gross value of construction works performed at private sector sites totalled HK$11.6bn in the first quarter, up 3.4% in nominal terms over a year earlier. In real terms, it fell 3.3%.