First quarter construction works up 20.2%

Private residential building projects contributed the most to the growth of gross value of construction works at private-sector sites, which totalled $7.3bn.

The total gross value of construction works main contractors performed in the first quarter increased 20.2% in nominal terms over a year earlier to $29.8 billion, the Census & Statistics Department announced on Monday.

After discounting the effect of price changes, the total gross value of main contractors' construction works increased 17% in real terms over the same period.

Analysed by type of construction works, the gross value of construction works at private-sector sites totalled $7.3 billion in the first quarter, up 14.8% in nominal terms over a year earlier. It rose 9.3% in real terms. Private residential building projects were the main contributor to the increase.

The gross value of construction works at public-sector sites rose 46.4% in nominal terms to $9.5 billion in the first quarter. It increased 40.4% in real terms.

The gross value of construction works main contractors performed at locations other than construction sites amounted to $13 billion, up 8.8% in nominal terms over a year earlier. It increased 8.6% in real terms.

Residential building projects accounted for the largest share in the total gross value of construction works performed at construction sites. Their gross value amounted to $5.5 billion, up 21.8% in nominal terms over a year earlier.

Transport projects constituted the second largest group of construction-site works. Their gross value totalled $3.9 billion, up 150.8% in nominal terms over a year earlier.

On a seasonally adjusted quarter-to-quarter basis, the total gross value of construction works main contractors performed increased 7.7% in nominal terms and 5% in real terms compared with the fourth quarter of 2010.