The Hong Kong Government Census and Statistics department’s recently released the figures for Q4 of last year and 2013 turned out to be another great year for the Hong Kong construction industry as we had all expected.
The public sector showed most signs of growth with a gross value of construction works hitting HK$62 billion, a 13.5% growth over the course of the year. Interestingly the private sector remained exactly the same as the previous year with HK$49.4 billion being spent.
The value of work performed by contractors showed a sharp increase of 9% for the year, with HK$175.9 billion gross value of projects in Hong Kong. The largest share in gross value lay with transport projects (HK$41.6 billion) which demonstrated a staggering growth of 36.6% compared with 2012. Residential building projects claimed second spot with HK$38 billion being spent (up 1.4%).
The Financial Secretary for Hong Kong recently released his estimation that capital expenditure for 2014/15 will reach HK$86.2 billion, with HK$70.8 billion being spent on capital works. Mega projects such as; the Hong Kong-Macau Bridge, the Guangzhou-Shenzhen-Hong Kong Express Rail Link and the Shatin-Central Link coupled with the proposed start of the 3rd runway at Hong Kong airport in Q3 of this year have led to these high expectations.
Behind these figures there are thousands of fantastic new construction industry jobs in Hong Kong for construction professionals willing to move to Hong Kong or move employers to the companies already working on or winning these fantastic projects!
The construction industry in Hong Kong shows no sign of slowing down and the demand for quality local Hong Kong construction professionals and expatriate construction professional candidates keeps rising. In fact the demand across all disciplines now far outweighs the supply. The same can also be said for our neighbours in Macau, with major hotel and casino projects in full swing, the sourcing of premium engineers and quantity surveyors is becoming such a problem that construction industry salaries are rising fast.
If you are a construction professional and are willing to consider a move to Hong Hong or willing to consider changing jobs in Hong Kong or Macau, please review our live job vacancies and apply for the role you would be most interested in doing.
We look forward to you being included in the statistics detailing Hong Kong’s ongoing success in 2014!
Maxim Recruitment Hong Kong & Asia Region