Housing and infrastructure projects underpin Hong Kong construction sector recovery
Closer collaboration between developers and suppliers will help the Hong Kong construction sector overcome ongoing supply-chain challenges and labour shortages in the years ahead.
In the first of our biannual market intelligence reviews for Hong Kong, our report shows how its economy gained momentum in 2021, before new waves of COVID-19 dampened economic activity and market confidence towards the year’s end. The gross value of construction works was up 1.5 percent over 2021, driven by residential and transport projects.
Hong Kong Budget 2022
The new Hong Kong Budget sets out a forward-thinking vision to improve livelihoods for communities. It includes key initiatives and policy measures designed to bolster economic resilience, enrich industrial developments and benefit the construction industry.
A particular emphasis is set on pushing new housing stock through development and bringing forward major infrastructure schemes.
Overall, the Hong Kong construction market is in a promising position, but will require innovative thinking and collaborative approaches from clients so as to tackle continued headwinds.
Download our latest market intelligence report to see more economic data and insight, and to read about tender conditions in Hong Kong.