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Mon June 14 2021

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Hong Kong construction jumps 33.6%

14 Sep 12 Hong Kong's main contractors carried out 33.6% more work in the second quarter than in the same period last year.

The year-on-year rise resulted in a value of HK$39.2bn (£3.1bn) in the quarter, according to the figures from the Census & Statistics Department.

 After discounting the effect of price changes, the total gross value of construction works main contractors performed increased 25.8% in real terms year-on-year.

 Analysed by type of construction work, the gross value of works performed at private sector sites totalled HK$13bn in the second quarter, up 53.7% in nominal terms and up 46.9% in real terms over a year earlier.

 The gross value of construction works performed at public sector sites rose 36% in nominal terms to HK$12.6bn, and increased 29.1% in real terms.

 The gross value of construction works main contractors performed at locations other than construction sites amounted to HK$13.6bn in the quarter, up 17.1% in nominal terms and 8.5% in real terms over a year earlier.

Analysed by end-use group, residential building projects accounted for the largest share. Their gross value amounted to HK$10bn in the second quarter this year, up 55.2% in nominal terms over a year earlier.

Transport was the second largest group of construction site works, and the gross value of construction works performed in respect of these projects totalled HK$6.5bn, up 70.8% in nominal terms year-on-year.

 On a seasonally adjusted quarter-to-quarter basis, the gross value of construction works main contractors performed rose 0.3% in nominal terms but fell 2.1% in real terms in the second quarter compared with the first quarter.

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