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Mon June 21 2021

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Hong Kong construction up 25%

13 Jun 12 The total gross value of construction works carried out by main contractors in Hong Kong in the first quarter of 2012 increased by 25.2% over a year earlier to HK$37bn (£3.1bn).

After discounting the effect of price changes, the total gross value of construction works performed by main contractors increased by 15.9% in real terms over the same period.

The provisional results of the quarterly survey of construction output were released yestedday by the Census & Statistics Department (C&SD). 

Analysed by type of construction works, the gross value of construction works performed at private sector sites totalled HK$11.2bn in the first quarter, up by 49.2% in nominal terms over a year earlier. In real terms, it increased by 41.2%. The increase in the gross value of construction works was mainly contributed by private residential building projects.

The gross value of construction works performed at public sector sites increased by 25.9% in nominal terms to HK$12.4bn in the first quarter of 2012. In real terms, it increased by 17%.

The gross value of construction works performed by main contractors at locations other than construction sites amounted to HK$13.4bn in the first quarter of 2012, up by 9.9% in nominal terms over a year earlier. In real terms, it increased by 0.5%. Construction works at locations other than construction sites included minor new construction activities and decoration, repair and maintenance for buildings; and electrical equipment installation and maintenance works at locations other than construction sites.

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Analysed by end-use group, residential building projects accounted for the largest share in the total gross value of construction works performed at construction sites in the first quarter of 2012. The gross value of construction for residential buildings amounted to $8.6 billion, up by 52.8% in nominal terms over a year earlier.

Transport projects constituted the second largest group, with the gross value of work totalling HK$6.1bn, up by 47.9% in nominal terms over a year earlier.

On a seasonally adjusted quarter-to-quarter basis, the total gross value of construction works performed by main contractors increased by 5.3% in nominal terms and 6.1% in real terms in the first quarter of 2012 compared with the fourth quarter of 2011.

C&SD pointed out that a construction establishment can be a main contractor for one contract and a sub-contractor for another contract at the same time.The gross value of construction works performed by main contractors covers only those projects in which the construction establishment takes the role of a main contractor, but not projects in which it takes only the role of a sub-contractor.However, sub-contractors' contribution to projects should have been included in the gross value of construction works performed by main contractors for whom they worked.

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