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Published: Feb, 2017 | Pages:
86 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)
Summary Timetric’s 'Construction in Hong Kong, Key Trends and Opportunities to 2021' 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 construction activity • Analysis of 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 Hong Kong’s construction industry • Profiles of the leading operators in Hong Kong’s construction industry • Data highlights of the largest construction projects in Hong Kong Synopsis In real terms, Hong Kong’s construction industry registered positive growth during the review period (2012–2016). Construction activity was weak during the 2013–2016 period due to the economic slowdown in China and the resulting impact on trade relations. Consequently, poor business confidence had a negative effect on investments. Nevertheless, government efforts to stabilize economic growth through infrastructure and residential construction investments contributed to the industry’s positive review-period growth. The industry is expected to expand at a slow pace over the forecast period (2017–2021). This is mainly due to the prevalence of global economic uncertainty, on account of the new anti-trade policies to be adopted against China by President Trump. Hong Kong’s trade dependence on China is subsequently expected to adversely affect its economy. Efforts to strengthen the economy by focusing on developing the country’s commercial, housing, tourism and manufacturing sectors are expected alleviate the problem, although they will not solve it. Government flagship programs, such as the Long-Term Housing Strategy (LTHS), Climate Action Plan 2030, Railway Development Strategy (RDS) and Hospital Development Program are expected to support the expansion of the industry. The industry’s output value in real terms increased at a review-period compound annual growth rate (CAGR) of 3.96%, and is expected to post a forecast-period CAGR of 2.19%. Scope This report provides a comprehensive analysis of the construction industry in Hong Kong. It provides: • Historical (2012-2016) and forecast (2017-2021) 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 strategy 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 January 2016, the government announced plans to develop the Central Kowloon Route (CKR) highway project in the Kowloon region. The project includes the construction of a 4.7km-long dual three-lane trunk road, which will connect the West Kowloon and Kai Tak development areas. Its main aim is to reduce traffic congestion along the east-west corridors in Central Kowloon. The project is expected to be completed in 2023. • In 2015, the government granted approval to the country’s Airport Authority to develop a third runway at the Asian financial center's airport. The project includes the construction of a new runway, a third runway concourse, aprons and taxiways, parking facilities, a baggage handling system, an automated people mover, and the expansion of Terminal 2 across 650.0ha of reclaimed land. It is scheduled for completion in 2023. • The government’s focus on the development of the country’s healthcare infrastructure is expected to support industry growth over the forecast period. As a part of the 2016–2017 federal budget, the government allocated a provision of HKD200.0 billion (US$25.8 billion) to the Hospital Authority in order to implement a hospital development program for 2016–2026. Under the program, the authority will upgrade various healthcare facilities, including the Grantham hospital, the Kwong Wah hospital, the Lai King building at the Princess Margaret hospital, the United Christian hospital, the North District hospital, the Queen Mary hospital, operating theatres at the TuenMun hospital, the Kwai Chung hospital, the Our Lady of Maryknoll hospital and the Prince of Wales hospital until 2026. • In a bid to address the issue of poor waste management, the government launched a blueprint for the sustainable use of resources in 2013. Through the plan, it aims to reduce the amount of waste dumped in landfills per capita from 1.3kg in 2011 to 1.0kg in 2017 and 0.8kg by 2022. • In a bid to boost construction activity in the residential and commercial sector, in February 2016 the government announced the Land Sale Program, under which it will supply land to develop 29 private residential sites consisting of 19,000 housing units by 2017. It also plans to issue 560,000m2 of land for the construction of commercial and office buildings in Kowloon Bay and Kwun Tong.
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 Limited 5.1 China Overseas Land & Investment Limited – 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 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 – Business Description 9.3 Yuexiu Property Company Ltd – Main Services 9.4 Yuexiu Property Company Ltd – History 9.5 Yuexiu Property Company Ltd – Company Information 9.5.1 Yuexiu Property Company Ltd – key competitors 9.5.2 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 Table 1: Hong Kong’s Construction Output by Project Type (HKD Million), 2012–2016 Table 2: Hong Kong’s Construction Output by Project Type (HKD Million), 2016–2021 Table 3: Hong Kong’s Construction Output by Cost Type (HKD Million), 2012–2016 Table 4: Hong Kong’s Construction Output by Cost Type (HKD Million), 2016–2021 Table 5: Hong Kong’s Construction Output by Activity (HKD Million), 2012–2016 Table 6: Hong Kong’s Construction Output by Activity Type (HKD Million), 2016–2021 Table 7: Hong Kong’s Construction Value Add by Project Type (HKD Million), 2012–2016 Table 8: Hong Kong’s Construction Value Add by Project Type (HKD Million), 2016–2021 Table 9: Hong Kong’s Commercial Construction Output by Project Type (HKD Million), 2012–2016 Table 10: Hong Kong’s Commercial Construction Output by Project Type (HKD Million), 2016–2021 Table 11: Hong Kong’s Commercial Construction Output by Cost Type (HKD Million), 2012– 2016 Table 12: Hong Kong’s Commercial Construction Output by Cost Type (HKD Million), 2016– 2021 Table 13: Hong Kong’s Commercial Construction Output by Activity (HKD Million), 2012–2016 Table 14: Hong Kong’s Commercial Construction Output by Activity Type (HKD Million), 2016–2021 Table 15: Hong Kong’s Commercial Construction Value Add by Project Type (HKD Million), 2012–2016 Table 16: Hong Kong’s Commercial Construction Value Add by Project Type (HKD Million), 2016–2021 Table 17: Hong Kong’s Industrial Construction Output by Project Type (HKD Million), 2012– 2016 Table 18: Hong Kong’s Industrial Construction Output by Project Type (HKD Million), 2016– 2021 Table 19: Hong Kong’s Industrial Construction Output by Cost Type (HKD Million), 2012–2016 Table 20: Hong Kong’s Industrial Construction Output by Cost Type (HKD Million), 2016–2021 Table 21: Hong Kong’s Industrial Construction Output by Activity (HKD Million), 2012–2016 Table 22: Hong Kong’s Industrial Construction Output by Activity Type (HKD Million), 2016– 2021 Table 23: Hong Kong’s Industrial Construction Value Add by Project Type (HKD Million), 2012–2016 Table 24: Hong Kong’s Industrial Construction Value Add by Project Type (HKD Million), 2016–2021 Table 25: Hong Kong’s Infrastructure Construction Output by Project Type (HKD Million), 2012–2016 Table 26: Hong Kong’s Infrastructure Construction Output by Project Type (HKD Million), 2016–2021 Table 27: Hong Kong’s Infrastructure Construction Output by Cost Type (HKD Million), 2012– 2016 Table 28: Hong Kong’s Infrastructure Construction Output by Cost Type (HKD Million), 2016– 2021 Table 29: Hong Kong’s Infrastructure Construction Output by Activity (HKD Million), 2012– 2016 Table 30: Hong Kong’s Infrastructure Construction Output by Activity Type (HKD Million), 2016–2021 Table 31: Hong Kong’s Infrastructure Construction Value Add by Project Type (HKD Million), 2012–2016 Table 32: Hong Kong’s Infrastructure Construction Value Add by Project Type (HKD Million), 2016–2021 Table 33: Hong Kong’s Energy and Utilities Construction Output by Project Type (HKD Million), 2012–2016 Table 34: Hong Kong’s Energy and Utilities Construction Output by Project Type (HKD Million), 2016–2021 Table 35: Hong Kong’s Energy and Utilities Construction Output by Cost Type (HKD Million), 2012–2016 Table 36: Hong Kong’s Energy and Utilities Construction Output by Cost Type (HKD Million), 2016–2021 Table 37: Hong Kong’s Energy and Utilities Construction Output by Activity (HKD Million), 2012–2016 Table 38: Hong Kong’s Energy and Utilities Construction Output by Activity Type (HKD Million), 2016–2021 Table 39: Hong Kong’s Energy and Utilities Construction Value Add by Project Type (HKD Million), 2012–2016 Table 40: Hong Kong’s Energy and Utilities Construction Value Add by Project Type (HKD Million), 2016–2021 Table 41: Hong Kong’s Institutional Construction Output by Project Type (HKD Million), 2012–2016 Table 42: Hong Kong’s Institutional Construction Output by Project Type (HKD Million), 2016–2021 Table 43: Hong Kong’s Institutional Construction Output by Cost Type (HKD Million), 2012– 2016 Table 44: Hong Kong’s Institutional Construction Output by Cost Type (HKD Million), 2016– 2021 Table 45: Hong Kong’s Institutional Construction Output by Activity (HKD Million), 2012– 2016 Table 46: Hong Kong’s Institutional Construction Output by Activity Type (HKD Million), 2016–2021 Table 47: Hong Kong’s Institutional Construction Value Add by Project Type (HKD Million), 2012–2016 Table 48: Hong Kong’s Institutional Construction Value Add by Project Type (HKD Million), 2016–2021 Table 49: Hong Kong’s Residential Construction Output by Project Type (HKD Million), 2012– 2016 Table 50: Hong Kong’s Residential Construction Output by Project Type (HKD Million), 2016– 2021 Table 51: Hong Kong’s Residential Construction Output by Cost Type (HKD Million), 2012– 2016 Table 52: Hong Kong’s Residential Construction Output by Cost Type (HKD Million), 2016– 2021 Table 53: Hong Kong’s Residential Construction Output by Activity (HKD Million), 2012–2016 Table 54: Hong Kong’s Residential Construction Output by Activity Type (HKD Million), 2016– 2021 Table 55: Hong Kong’s Residential Construction Value Add by Project Type (HKD Million), 2012–2016 Table 56: Hong Kong’s Residential Construction Value Add by Project Type (HKD Million), 2016–2021 Table 57: China Overseas Land & Investment Limited, Key Facts Table 58: China Overseas Land & Investment Ltd, Main Services Table 59: China Overseas Land & Investment Ltd, History Table 60: China Overseas Land & 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), 2012–2021 Figure 2: Growth Matrix for Construction Output in Hong Kong (US$ Million), 2012–2021 Figure 3: Hong Kong’s Construction Output by Project Type (HKD Million), 2012–2021 Figure 4: Hong Kong’s Construction Output by Cost Type (HKD Million), 2012–2021 Figure 5: Hong Kong’s Construction Output by Activity Type (HKD Million), 2012–2021 Figure 6: Hong Kong’s Construction Value Add by Project Type (HKD Million), 2012–2021 Figure 7: Hong Kong’s Commercial Construction Output by Project Type (HKD Million), 2012–2021 Figure 8: Hong Kong’s Commercial Construction Output by Cost Type (HKD Million), 2012–2021 Figure 9: Hong Kong’s Commercial Construction Output by Activity Type (HKD Million), 2012–2021 Figure 10: Hong Kong’s Commercial Construction Value Add by Project Type (HKD Million), 2012–2021 Figure 11: Hong Kong’s Industrial Construction Output by Project Type (HKD Million), 2012– 2021 Figure 12: Hong Kong’s Industrial Construction Output by Cost Type (HKD Million), 2012– 2021 Figure 13: Hong Kong’s Industrial Construction Output by Activity Type (HKD Million), 2012– 2021 Figure 14: Hong Kong’s Industrial Construction Value Add by Project Type (HKD Million), 2012–2021 Figure 15: Hong Kong’s Infrastructure Construction Output by Project Type (HKD Million), 2012–2021 Figure 16: Hong Kong’s Infrastructure Construction Output by Cost Type (HKD Million), 2012–2021 Figure 17: Hong Kong’s Infrastructure Construction Output by Activity Type (HKD Million), 2012–2021 Figure 18: Hong Kong’s Infrastructure Construction Value Add by Project Type (HKD Million), 2012–2021 Figure 19: Hong Kong’s Energy and Utilities Construction Output by Project Type (HKD Million), 2012–2021 Figure 20: Hong Kong’s Energy and Utilities Construction Output by Cost Type (HKD Million), 2012–2021 Figure 21: Hong Kong’s Energy and Utilities Construction Output by Activity Type (HKD Million), 2012–2021 Figure 22: Hong Kong’s Energy and Utilities Construction Value Add by Project Type (HKD Million), 2012–2021 Figure 23: Hong Kong’s Institutional Construction Output by Project Type (HKD Million), 2012–2021 Figure 24: Hong Kong’s Institutional Construction Output by Cost Type (HKD Million), 2012– 2021 Figure 25: Hong Kong’s Institutional Construction Output by Activity Type (HKD Million), 2012–2021 Figure 26: Hong Kong’s Institutional Construction Value Add by Project Type (HKD Million), 2012–2021 Figure 27: Hong Kong’s Residential Construction Output by Project Type (HKD Million), 2012–2021 Figure 28: Hong Kong’s Residential Construction Output by Cost Type (HKD Million), 2012– 2021 Figure 29: Hong Kong’s Residential Construction Output by Activity Type (HKD Million), 2012–2021 Figure 30: Hong Kong’s Residential Construction Value Add by Project Type (HKD Million), 2012–2021
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