Residential, community and office projects are projected to maintain positive year-on-year comparisons through the first half of 2023, in which the construction output of residential projects is estimated to double, compared to the first half of 2022. Key residential projects include an elderly home in Kai Tak valued at HK$5,600 million and a public housing development at Long Bin Phase 1 in Yuen Long valued at HK$5,287 million.
The construction output of residential projects will continue to increase with the introduction of Light Public Housing (LPH). With the supply of both LPH units and traditional public rental housing units, the public housing production will see a 50 per cent surge to 158,000 units in the next five years.
Besides, the developments in the Northern Metropolis and Lantau are anticipated to energise and ensure the inflow of opportunities in the construction industry in the near future. Featured projects include a data centre in the North District valued at HK$1,100 million.
Sources: BCI Central Research and Economics. All information is accurate as of Dec 2022.