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Albany, NY -- (SBWIRE) -- 01/19/2016 -- Hong Kong's construction industry has been expanding rapidly. In real terms, the industry's output value recorded a compound annual growth rate (CAGR) of 8.37% during the review period (2010–2014).
Growth was supported by socio-political stability, improving investor confidence and global economic conditions. Public and private sector investments as part of the Vision 2030 program also supported industry growth.
Over the forecast period (2015–2019), industry growth is expected to be supported by government investment in infrastructure and housing construction projects.
The government aims to improve access to transport networks, improve tourism infrastructure, and increase energy delivery by investing in renewable projects.
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Timetric's Construction in Hong Kong – Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into Hong Kong's construction industry, including:
The Hong Kong construction industry's growth prospects by market, project type and type of construction activity
Equipment, material and service costs for each project type in Hong Kong
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Hong Kong construction industry
Profiles of the leading operators in Hong Kong's construction industry
Data highlights of the largest construction projects in Hong Kong
This report provides a comprehensive analysis of the construction industry in Hong Kong. It provides:
Historical (2010-2014) and forecast (2015-2019) valuations of the construction industry in Hong Kong using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
Analysis of key construction industry issues, including regulation, cost management, funding and pricing
Detailed profiles of the leading construction companies in Hong Kong
Reasons To Buy
Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies
Assess market growth potential at a micro-level with over 600 time-series data forecasts
Understand the latest industry and market trends
Formulate and validate business strategies using Timetric's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors
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In December 2014, the Hong Kong housing authority launched its Long-Term Housing Strategy, through which it aims to increase public rental housing (PRH) units, provide subsidized flats, expand home ownership programs, and stabilize the residential property market through the steady supply of land. Using a PPP model, the government aims to construct 480,000 housing units in Hong Kong during 2015–2025. Accordingly, the public sector is expected to construct 60.0% of the total housing target by 2025, which includes the construction of 290,000 housing units with a mixture of 200,000 PRH units and 90,000 subsidized sale flats. The private sector is expected to construct the remaining 190,000 units by 2025.
Hong Kong has one of the world's least affordable housing markets, with house prices rising continuously during the review period. According to the Rating and Valuation Department, house prices rose by 21.3% in April 2014 as compared to April 2013. The house price index also increased by 274.2% from April 2004 to April 2015. Concerns over affordability have increased, leading to the introduction of new laws and policies. The increase in house prices can also be attributed to the increased flow of money from the central banks of developed countries following the global financial crisis. To control the forming of a real estate 'bubble', the government in the year 2012 introduced several price-control measures such as a 15.0% extra tax for non-resident buyers, and higher minimum down-payments.
With insufficient supply of freshwater, Hong Kong depends on China for its water-supply needs. To reduce its reliance on China, the government is focusing on developing alternative water resources. In 2008, the Water Supplies Department implemented its Total Water Management Strategy, which includes developing options for water resources. The government also plans to build a seawater desalination plant with an initial capacity of 50.0 million m3 per annum, which may be extended to 90 million m3 per annum. The tender and funds for this project will be secured between 2015¬ and 2017, with the aim of commencing operations in 2020.
According to the Hong Kong budget 2015–2016, international visitors rose by 12.0% in 2014 compared to 2013. The total number of visitors reached60.0 million in 2014, and total tourism spending also rose by 9.0% compared to 2013, reaching a value of HKD2.7 trillion (US$350.0 billion) in 2014.The government aims to promote multi–destination tourism for international visitors in alliance with the Guangdong and Macau authorities. It also plans to involve neighboring ports into the Asia Cruise Fund.
To meet demand for international schools from overseas families living in Hong Kong, the Education Bureau is planning to increase school areas by allocating vacant school premises and sites for international school development. In 2014, the bureau identified another two vacant school premises and three green-field sites for international school development. The government's commitment to developing the education sector will support construction activity in the education buildings category. With an investment of HKD5.1 billion (US$653.0 million) Ying Wa Girl's School is planning to redevelop. The project is expected to be completed by 2018 with the Architectural Services Department and the GHKSAR jointly undertaking construction."
Table Of Content
1 Executive Summary
2 Industry Outlook
2.1 Commercial Construction
2.2 Industrial Construction
2.3 Infrastructure Construction
2.4 Energy and Utilities Construction
2.5 Institutional Construction
2.6 Residential Construction
3 Key Issues and Developments
4 Market Data Analysis
4.1 Construction Output and Value Add
4.1.1 Construction output by project type
4.1.2 Construction output by cost type
4.1.3 Construction output by activity type
4.1.4 Construction value add by project type
4.2 Commercial Construction
4.2.1 Commercial construction output by project type
4.2.2 Commercial construction output by cost type
4.2.3 Commercial construction output by activity type
4.2.4 Commercial construction value add by project type
4.3 Industrial Construction
4.3.1 Industrial construction output by project type
4.3.2 Industrial construction output by cost type
4.3.3 Industrial construction output by activity type
4.3.4 Industrial construction value add by project type
4.4 Infrastructure Construction
4.4.1 Infrastructure construction output by project type
4.4.2 Infrastructure construction output by cost type
4.4.3 Infrastructure construction output by activity type
4.4.4 Infrastructure construction value add by project type
4.5 Energy and Utilities Construction
4.5.1 Energy and utilities construction output by project type
4.5.2 Energy and utilities construction output by cost type
4.5.3 Energy and utilities construction output by activity type
4.5.4 Energy and utilities construction value add by project type
4.6 Institutional Construction
4.6.1 Institutional construction output by project type
4.6.2 Institutional construction output by cost type
4.6.3 Institutional construction output by activity type
4.6.4 Institutional construction value add by project type
4.7 Residential Construction
4.7.1 Residential construction output by project type
4.7.2 Residential construction output by cost type
4.7.3 Residential construction output by activity type
4.7.4 Residential construction value add by project type
5 Company Profile: China Overseas Land & Investment Ltd
5.1 China Overseas Land & Investment Ltd– Company Overview
5.2 China Overseas Land & Investment Ltd – Business Description
5.3 China Overseas Land & Investment Ltd– Main Services
5.4 China Overseas Land & Investment Ltd– History
5.5 China Overseas Land & Investment Ltd – Company Information
5.5.1 China Overseas Land & Investment Ltd – key competitors
5.5.2 China Overseas Land & Investment Ltd – key employees
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