New Construction research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 11/20/2013 -- The lack of growth in Q213 supports our view that the recovery in Taiwan's construction activity could be mild. As such, we are maintaining our forecasts for construction real growth at 2.0% for 2013 and 2.9% for 2014. This is primarily due to our expectations of a steep economic slowdown in China, Taiwan's main trading partner, over the near-term. Over the long-term, we expect Taiwan's construction sector to outperform its 10-year historical average, though we remain concerned about the country's demographic profile and its lack of progress in achieving greater innovation in the tech sector and greater economic integration with China.
Key developments that will affect growth include:
- In June 2013, the government of the Taiwanese city of Greater Kaohsiung outlined the construction of the country's first light rail transit (LRT) system project, worth TWD16.5bn (US$550mn), has started. The 22.1km LRT system is scheduled to be constructed in two phases: the first 8.7km phase will pass through Kaohsiung's Asia New Bay Area and Pier 2 Arts Centre to the Sizihwan District. The light rail project will be built by Spanish construction company Construcciones y Auxiliar de Ferrocarriles and Taiwanese company Evergreen Construction. The initial testing of the system is expected to have commenced by end-2014. The central government will provide a subsidy of TWD6.4bn (US$214.37mn) and the rest will be raised by local government. It will have a total of 14 stops upon its completion by the end of 2014.
- In August 2013, the government of Taiwan confirmed plans to build a US$112mn dock on the Taiping Dao island, according to the Voice of America. The move is likely to prove controversial, as the Spratly islands is disputed territory, with would-be claimants including the Chinese mainland, Vietnam and the Philippines. Taiwan plans to use the dock to receive warships, and has used the island to carry out live fire military drills. The plan has already been presented to parliament by the coastguard and is expected to start operations in 2016.
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