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Synopsis
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.

Summary
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

Scope
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

Key Highlights
- 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 Contents

Construction in Hong Kong - Key Trends and Opportunities to 2019
Table of Contents
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 and Investment Ltd
5.1 China Overseas Land and Investment Ltd- Company Overview
5.2 China Overseas Land and Investment Ltd - Business Description
5.3 China Overseas Land and Investment Ltd- Main Services
5.4 China Overseas Land and Investment Ltd- History
5.5 China Overseas Land and Investment Ltd - Company Information
5.5.1 China Overseas Land and Investment Ltd - key competitors
5.5.2 China Overseas Land and Investment Ltd - key employees
6 Company Profile: China State Construction International Holdings Ltd
6.1 China State Construction International Holdings Ltd- Company Overview
6.2 China State Construction International Holdings Ltd - Business Description
6.3 China State Construction International Holdings Ltd- Main Products and Services
6.4 China State Construction International Holdings Ltd - History
6.5 China State Construction International Holdings Ltd - Company Information
6.5.1 China State Construction International Holdings Ltd- key competitors
6.5.2 China State Construction International Holdings Ltd- key employees
7 Company Profile: Henderson Land Development Company Ltd
7.1 Henderson Land Development Company Ltd - Company Overview
7.2 Henderson Land Development Company Ltd- Business Description
7.3 Henderson Land Development Company Ltd- Main Services
7.4 Henderson Land Development Company Ltd- History
7.5 Henderson Land Development Company Ltd- Company Information
7.5.1 Henderson Land Development Company Ltd- key competitors
7.5.2 Henderson Land Development Company Ltd- key employees
8 Company Profile: NWS Holdings Ltd
8.1 NWS Holdings Ltd- Company Overview
8.2 NWS Holdings Ltd - Business Description
8.3 NWS Holdings Ltd- Main Products and Services
8.4 NWS Holdings Ltd - History
8.5 NWS Holdings Ltd- Company Information
8.5.1 NWS Holdings Ltd - key competitors
8.5.2 NWS Holdings Ltd- key employees
9 Company Profile: Yuexiu Property Company Ltd
9.1 Yuexiu Property Company Ltd- Company Overview
9.2 Yuexiu Property Company Ltd - Main Services
9.3 Yuexiu Property Company Ltd - History
9.4 Yuexiu Property Company Ltd- Company Information
9.4.1 Yuexiu Property Company Ltd - key competitors
9.4.2 Yuexiu Property Company Ltd- key employees
10 Appendix
10.1 What is this Report About?
10.2 Definitions
10.3 Methodology
10.4 Contact Timetric
10.5 About Timetric
10.6 Timetric's Services
10.7 Disclaimer

List of Tables
Table1: Hong Kong's Construction Output by Project Type (HKD Million), 2010-2014
Table2: Hong Kong's Construction Output by Project Type (HKD Million), 2014-2019
Table 3: Hong Kong's Construction Output by Cost Type (HKD Million), 2010-2014
Table 4: Hong Kong's Construction Output by Cost Type (HKD Million), 2014-2019
Table 5: Hong Kong's Construction Output by Activity Type (HKD Million), 2010-2014
Table 6: Hong Kong's Construction Output by Activity Type (HKD Million), 2014-2019
Table 7: Hong Kong's Construction Value Add by Project Type (HKD Million), 2010-2014
Table 8: Hong Kong's Construction Value Add by Project Type (HKD Million), 2014-2019
Table 9: Hong Kong's Commercial Construction Output by Project Type (HKD Million), 2010-2014
Table 10: Hong Kong's Commercial Construction Output by Project Type (HKD Million), 2014-2019
Table 11: Hong Kong's Commercial Construction Output by Cost Type (HKD Million), 2010-2014
Table 12: Hong Kong's Commercial Construction Output by Cost Type (HKD Million), 2014-2019
Table 13: Hong Kong's Commercial Construction Output by Activity Type (HKD Million), 2010-2014
Table 14: Hong Kong's Commercial Construction Output by Activity Type (HKD Million), 2014-2019
Table 15: Hong Kong's Commercial Construction Value Add by Project Type (HKD Million), 2010-2014
Table 16: Hong Kong's Commercial Construction Value Add by Project Type (HKD Million), 2014-2019
Table 17: Hong Kong's Industrial Construction Output by Project Type (HKD Million), 2010-2014
Table 18: Hong Kong's Industrial Construction Output by Project Type (HKD Million), 2014-2019
Table 19: Hong Kong's Industrial Construction Output by Cost Type (HKD Million), 2010-2014
Table 20: Hong Kong's Industrial Construction Output by Cost Type (HKD Million), 2014-2019
Table 21: Hong Kong's Industrial Construction Output by Activity Type (HKD Million), 2010-2014
Table 22: Hong Kong's Industrial Construction Output by Activity Type (HKD Million), 2014-2019
Table 23: Hong Kong's Industrial Construction Value Add by Project Type (HKD Million), 2010-2014
Table 24: Hong Kong's Industrial Construction Value Add by Project Type (HKD Million), 2014-2019
Table 25: Hong Kong's Infrastructure Construction Output by Project Type (HKD Million), 2010-2014
Table 26: Hong Kong's Infrastructure Construction Output by Project Type (HKD Million), 2014-2019
Table 27: Hong Kong's Infrastructure Construction Output by Cost Type (HKD Million), 2010-2014
Table 28: Hong Kong's Infrastructure Construction Output by Cost Type (HKD Million), 2014-2019
Table 29: Hong Kong's Infrastructure Construction Output by Activity Type (HKD Million), 2010-2014
Table 30: Hong Kong's Infrastructure Construction Output by Activity Type (HKD Million), 2014-2019
Table 31: Hong Kong's Infrastructure Construction Value Add by Project Type (HKD Million), 2010-2014
Table 32: Hong Kong's Infrastructure Construction Value Add by Project Type (HKD Million), 2014-2019
Table 33: Hong Kong's Energy and Utilities Construction Output by Project Type (HKD Million), 2010-2014
Table 34: Hong Kong's Energy and Utilities Construction Output by Project Type (HKD Million), 2014-2019
Table 35: Hong Kong's Energy and Utilities Construction Output by Cost Type (HKD Million), 2010-2014
Table 36: Hong Kong's Energy and Utilities Construction Output by Cost Type (HKD Million), 2014-2019
Table 37: Hong Kong's Energy and Utilities Construction Output by Activity Type (HKD Million), 2010-2014
Table 38: Hong Kong's Energy and Utilities Construction Output by Activity Type (HKD Million), 2014-2019
Table 39: Hong Kong's Energy and Utilities Construction Value Add by Project Type (HKD Million), 2010-2014
Table 40: Hong Kong's Energy and Utilities Construction Value Add by Project Type (HKD Million), 2014-2019
Table 41: Hong Kong's Institutional Construction Output by Project Type (HKD Million), 2010-2014
Table 42: Hong Kong's Institutional Construction Output by Project Type (HKD Million), 2014-2019
Table 43: Hong Kong's Institutional Construction Output by Cost Type (HKD Million), 2010-2014
Table 44: Hong Kong's Institutional Construction Output by Cost Type (HKD Million), 2014-2019
Table 45: Hong Kong's Institutional Construction Output by Activity Type (HKD Million), 2010-2014
Table 46: Hong Kong's Institutional Construction Output by Activity Type (HKD Million), 2014-2019
Table 47: Hong Kong's Institutional Construction Value Add by Project Type (HKD Million), 2010-2014
Table 48: Hong Kong's Institutional Construction Value Add by Project Type (HKD Million), 2014-2019
Table 49: Hong Kong's Residential Construction Output by Project Type (HKD Million), 2010-2014
Table 50: Hong Kong's Residential Construction Output by Project Type (HKD Million), 2014-2019
Table 51: Hong Kong's Residential Construction Output by Cost Type (HKD Million), 2010-2014
Table 52: Hong Kong's Residential Construction Output by Cost Type (HKD Million), 2014-2019
Table 53: Hong Kong's Residential Construction Output by Activity Type (HKD Million), 2010-2014
Table 54: Hong Kong's Residential Construction Output by Activity Type (HKD Million), 2014-2019
Table 55: Hong Kong's Residential Construction Value Add by Project Type (HKD Million), 2010-2014
Table 56: Hong Kong's Residential Construction Value Add by Project Type (HKD Million), 2014-2019
Table 57: China Overseas Land and Investment Ltd, Key Facts
Table 58: China Overseas Land and Investment Ltd, Main Services
Table 59: China Overseas Land and Investment Ltd, History
Table 60: China Overseas Land and Investment Ltd, Key Employees
Table 61: China State Construction International Holdings Ltd, Key Facts
Table 62: China State Construction International Holdings Ltd, Main Products and Services
Table 63: China State Construction International Holdings Ltd, History
Table 64: China State Construction International Holdings Ltd, Key Employees
Table 65: Henderson Land Development Company Ltd, Key Facts
Table 66: Henderson Land Development Company Ltd, Main Services
Table 67: Henderson Land Development Company Ltd, History
Table 68: Henderson Land Development Company Ltd, Key Employees
Table 69: NWS Holdings Ltd, Key Facts
Table 70: NWS Holdings Ltd, Main Products and Services
Table 71: NWS Holdings Ltd, History
Table 72: NWS Holdings Ltd, Key Employees
Table 73: Yuexiu Property Company Ltd, Key Facts
Table 74: Yuexiu Property Company Ltd, Main Services
Table 75: Yuexiu Property Company Ltd, History
Table 76: Yuexiu Property Company Ltd, Key Employees
Table 77: Timetric Construction Market Definitions

List of Figures
Figure 1: Hong Kong's Construction Output (Real US$ 2010, Million), 2010-2019
Figure 2: Growth Matrix for Construction Output in Hong Kong (US$ Million), 2010-2019
Figure 3: Hong Kong's Construction Output by Project Type (HKD Million), 2010-2019
Figure 4: Hong Kong's Construction Output by Cost Type (HKD Million), 2010-2019
Figure 5: Hong Kong's Construction Output by Activity Type (HKD Million), 2010-2019
Figure 6: Hong Kong's Construction Value Add by Project Type (HKD Million), 2010-2019
Figure 7: Hong Kong's Commercial Construction Output by Project Type (HKD Million), 2010-2019
Figure 8: Hong Kong's Commercial Construction Output by Cost Type (HKD Million), 2010-2019
Figure 9: Hong Kong's Commercial Construction Output by Activity Type (HKD Million), 2010-2019
Figure 10: Hong Kong's Commercial Construction Value Add by Project Type (HKD Million), 2010-2019
Figure 11: Hong Kong's Industrial Construction Output by Project Type (HKD Million), 2010-2019
Figure 12: Hong Kong's Industrial Construction Output by Cost Type (HKD Million), 2010-2019
Figure 13: Hong Kong's Industrial Construction Output by Activity Type (HKD Million), 2010-2019
Figure 14: Hong Kong's Industrial Construction Value Add by Project Type (HKD Million), 2010-2019
Figure 15: Hong Kong's Infrastructure Construction Output by Project Type (HKD Million), 2010-2019
Figure 16: Hong Kong's Infrastructure Construction Output by Cost Type (HKD Million), 2010-2019
Figure 17: Hong Kong's Infrastructure Construction Output by Activity Type (HKD Million), 2010-2019
Figure 18: Hong Kong's Infrastructure Construction Value Add by Project Type (HKD Million), 2010-2019
Figure 19: Hong Kong's Energy and Utilities Construction Output by Project Type (HKD Million), 2010-2019
Figure 20: Hong Kong's Energy and Utilities Construction Output by Cost Type (HKD Million), 2010-2019
Figure 21: Hong Kong's Energy and Utilities Construction Output by Activity Type (HKD Million), 2010-2019
Figure 22: Hong Kong's Energy and Utilities Construction Value Add by Project Type (HKD Million), 2010-2019
Figure 23: Hong Kong's Institutional Construction Output by Project Type (HKD Million), 2010-2019
Figure 24: Hong Kong's Institutional Construction Output by Cost Type (HKD Million), 2010-2019
Figure 25: Hong Kong's Institutional Construction Output by Activity Type (HKD Million), 2010-2019
Figure 26: Hong Kong's Institutional Construction Value Add by Project Type (HKD Million), 2010-2019
Figure 27: Hong Kong's Residential Construction Output by Project Type (HKD Million), 2010-2019
Figure 28: Hong Kong's Residential Construction Output by Cost Type (HKD Million), 2010-2019
Figure 29: Hong Kong's Residential Construction Output by Activity Type (HKD Million), 2010-2019
Figure 30: Hong Kong's Residential Construction Value Add by Project Type (HKD Million), 2010-2019

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