The Asia-Pacific region (APAC) tops world growth, with an expected 6.3% increase in GDP in 2018 according to the World Bank. China in particular shows strong development, leading the APAC region in terms of growth, innovation and major investment.
Both the International Monetary Fund and the World Bank predict that strong economic growth will continue in the region until at least 2020, and possibly beyond if expansion continues at it’s current rate. This is good news for construction professionals, as major investments in construction projects will require skilled staff to help drive this growth.
Hong Kong: Projects in the Works
In order to boost a cooling construction market, the Hong Kong government has committed funds for additional projects. The Legislative Council’s Finance Committee announced HK$170 billion would be approved for construction projects before their summer recess. While the Central Kowloon Route major project – which is currently on site – forms part of this figure, there are still several construction projects that were recently given the green light to start, including:
- Departmental Quarters for Customs and Excise Departments: Two projects to build new quarters for staff at Po Lam Road and Tsz Wan Shan, valued at $HK1,035 million and $HK533 million respectively.
- Disciplined Services Quarters for Fire Services Deparment: Construction of five number 16—17 storey quarters at Pak Shing Kok, as well as parking and communal facilities for $HK1,625 million
- Kam Tin South Infrastructure Upgrades: a $HK697 million project to improve existing roads, including widening and junction improvements, as well as environmental measures and other ancillary works
- Station Square at Kai Tak: a $HK1,651.5 million, 12-hectare development to provide public leisure and recreational facilities
- San Po Kong District Open Space: A $HK179 million project to convert 11,650m² into a public leisure space for the nearby housing development.
In addition, a further HK$29 billion was committed for Hong Kong’s hospital development and improvement plans over the next decade
Australia: Construction is Booming
With the upturn in demand for housing, backed by the expanding pipeline of transport infrastructure projects, Australia’s construction sector is booming. Various transport projects in Australia have been given around US$18 billion as part of a larger, ten-year infrastructure investment plan. It will cover roads, rail and public transport and is a huge boost to the already-busy construction sector. Key projects include:
- AUS$3.5bn to establish the Roads of Strategic Importance initiative to upgrade key freight routes
- AUS$160m to upgrade sections of the Outback Way
- AUS$971m for the Pacific Highway Coffs Harbour Bypass
- AUS$400m to duplicate the Port Botany Rail Line
- AUS£3.3bn for continued upgrades to the Bruce Highway, including the $800m Cooroy to Curra Section D project
- AUS$1bn for the M1 Pacific Motorway between Eight Mile Plains and Daisy Hill, and Varsity Lakes to Tugun
If you are thinking about working in Australia, now is the perfect time to send your CV in. I will be visiting both Melbourne and Sydney during the last two weeks of September to speak to potential employers. I’m looking for CVs from outstanding candidates to show them, so if you are interested in finding your next role, please get in touch at Richard@maximrecruitment.com.
About the author
Construction Recruitment Director, Hong Kong
I am responsible for the recruitment business in Hong Kong, Asia, and the Middle East. I was a civil engineer and project manager for 15 years before becoming a construction industry recruitment consultant in 2004. I am based in the Hong Kong office and specialise in placing professionals in engineering, project management, planning, HSEQ and risk.
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