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 From Hong Kong's Information Services Department
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March 18, 2003
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Works

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Private-sector construction value up 3.5%
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Census & Statistics Department

Construction works at private-sector sites had a gross value of $41.9 billion last year, a 3.5% increase in nominal terms over 2001 due to an acceleration of works at some residential and commercial building sites.

 

In real terms, it rose by 9.5%, according to the Census & Statistics Department's Quarterly Survey of Construction Output.

 

The gross value of works at public-sector sites was $32 billion last year. That represents a 23.5% dip in nominal terms and an 18.6% slip in real terms.

 

Two main reasons for the decline are the scaling down of the public-housing programme and the tapering off of works on some public infrastructure projects.

 

The total gross value of construction works performed by main contractors last year decreased by 7.4% in nominal terms, to $105.5 billion. After discounting price changes, it fell by 2.9% in real terms over the same period.

 

Residential building projects accounted for the largest share of  the gross value of construction works last year - $36.1 billion, a slip of 13.6% in nominal terms.

 

Transport projects ranked second with a gross value of $13.5 billion. Commercial-building projects ranked third, with a gross value of $9 billion.

 

Enquiries about the survey results can be made to the Building, Construction & Real Estate Statistics Section of the department at 2805 6426, or email building@censtatd.gov.hk.