New Construction research report from Timetric is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 03/27/2014 -- The Myanmar construction industry registered a compound annual growth rate (CAGR) of 14.52% during the review period (2009-2013). This growth was supported by the country's political stability, an increasing number of investment opportunities in energy and public infrastructure projects, and the rapid inflow of foreign direct investment (FDI) from Vietnam, Thailand, China, Singapore and Malaysia. Construction industry growth is expected to remain strong over the forecast period (2014-2018), driven by the government's increasing expenditure on improving public infrastructure, and the rising interest of domestic and foreign real estate developers in constructing residential units to meet the population's huge housing demand. Consequently, the industry is expected to record a CAGR of 11.94% over the forecast period.
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- The Myanmar construction industry has been growing strongly, and grew by 9.3% in 2012 in real terms. According to the Asian Development Bank (ADB), the construction industry output at constant prices reached MMK2.2 trillion (US$2.6 billion) in 2012, compared with MMK2 trillion (US$2.3 billion) in 2011.
- In order to improve the electricity supply network in Yangon, Mandalay, Sagaing and Magway regions, the ADB approved a MMK54 billion (US$60 million) loan in December 2013 to finance the extension, repair and strengthening of the electricity infrastructure in these regions.
- Industrial construction will be supported by various manufacturing plant construction projects. In 2013, Siam Cement Group (SCG) announced plans to construct a 1.8 million-tons-per-year greenfield cement plant in Mawlamyine. The total investment for this project will be MMK347.5 billion (US$386 million) and is expected to be completed in 2016.
- In its 2014 budget, the government proposed to increase its expenditure on healthcare as a percentage of the total budget from 3.2% in FY2013 to 3.4% in FY2014. The expenditure is centered on the renovation of hospitals and medical centers, and the construction of new hospitals in the country over the forecast period.
- To balance supply of and demand for affordable housing in Mandalay, the second-largest city in Myanmar, the Mandalay City Development Committee (MCDC) announced plans in 2013 to construct 1,122 affordable housing apartments in the city.
This report provides a comprehensive analysis of the construction industry in Myanmar. It provides:
- Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Myanmar using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
Companies Mentioned in this Report: Shine Construction Company Ltd, Max Myanmar Construction Co., Ltd, Dawn (Ah Yone Oo) Construction Co., Ltd, Yadanar Myaing Construction Co., Ltd, A1 Construction Co., Ltd
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