Hong Kong Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H2 2025)
Description
Hong Kong Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H2 2025)
Summary
Growth in Hong Kong’s construction industry is expected to slow from 3.7% in 2024 to 0.7% in 2025, with the industry’s performance expected to be affected by factors such as a weak housing market, high inflation, and high fiscal deficit. In March 2025, Hong Kong’s Legislative Council estimated to have registered a deficit of HKD87.2 billion ($11.2 billion) for FY2024-25, marking the third consecutive shortfall. Indeed, according to the Census and Statistics Department (C&SD), gross domestic fixed capital formation in building and construction fell by 2.3% year on year (YoY) in Q1 2025 owing to the fall in private sector (3% YoY) and the public sector (2% YoY), during the same period. However, the industry's output in 2025 will be supported by allocation under the Financial Year (FY) 2025-26 Budget (April 2025 to March 2026) and investments in the transport, energy, and commercial sectors.
Over the remainder of the forecast period, the construction industry’s output is expected to register an annual average growth rate of 2.6% during 2026-29, supported by investments in transport, electricity, housing, and industrial projects. In January 2025, Hong Kong's Airport Authority announced a plan to develop an infrastructure project named “Skytopia”. The total value of the project is HKD100 billion ($12.8 billion), which involves the construction of an arts hub, yacht facilities, driverless transportation systems, a jet fresh market to rival Tokyo's Tsukiji Fish Market and a development called Skycity that will host a hotel, offices and commercial activities. Of the total investment, Hong Kong's Airport Authority plans to scour HKD70 billion ($7 billion) of investment from international investors.
GlobalData’s Construction in Hong Kong - Key Trends and Opportunities to 2029 (H2 2025) report provides detailed market analysis, information, and insights into Hong Kong’s construction industry, including -
This report provides a comprehensive analysis of the construction industry in Hong Kong. It provides -
Summary
Growth in Hong Kong’s construction industry is expected to slow from 3.7% in 2024 to 0.7% in 2025, with the industry’s performance expected to be affected by factors such as a weak housing market, high inflation, and high fiscal deficit. In March 2025, Hong Kong’s Legislative Council estimated to have registered a deficit of HKD87.2 billion ($11.2 billion) for FY2024-25, marking the third consecutive shortfall. Indeed, according to the Census and Statistics Department (C&SD), gross domestic fixed capital formation in building and construction fell by 2.3% year on year (YoY) in Q1 2025 owing to the fall in private sector (3% YoY) and the public sector (2% YoY), during the same period. However, the industry's output in 2025 will be supported by allocation under the Financial Year (FY) 2025-26 Budget (April 2025 to March 2026) and investments in the transport, energy, and commercial sectors.
Over the remainder of the forecast period, the construction industry’s output is expected to register an annual average growth rate of 2.6% during 2026-29, supported by investments in transport, electricity, housing, and industrial projects. In January 2025, Hong Kong's Airport Authority announced a plan to develop an infrastructure project named “Skytopia”. The total value of the project is HKD100 billion ($12.8 billion), which involves the construction of an arts hub, yacht facilities, driverless transportation systems, a jet fresh market to rival Tokyo's Tsukiji Fish Market and a development called Skycity that will host a hotel, offices and commercial activities. Of the total investment, Hong Kong's Airport Authority plans to scour HKD70 billion ($7 billion) of investment from international investors.
GlobalData’s Construction in Hong Kong - Key Trends and Opportunities to 2029 (H2 2025) report provides detailed market analysis, information, and insights into Hong Kong’s construction industry, including -
- Hong Kong’s construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Hong Kong’s construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in Hong Kong. It provides -
- Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Hong Kong, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level with over 600 time-series data forecasts
- Understand the latest industry and market trends
- Formulate and validate business strategies using GlobalData's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Table of Contents
49 Pages
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 Risk Profile
- 4 Construction Outlook
- 4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
- 5 Key Industry Participants
- 5.1 Contractors
- 5.2 Consultants
- 6 Construction Market Data
- 7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 8 About GlobalData
- 9 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Hong Kong, Key Economic Indicators
- Table 3: Hong Kong, Commercial Construction Output by Project Type (Real % Change), 2020–29
- Table 4: Hong Kong, Top Commercial Construction Projects by Value
- Table 5: Hong Kong, Industrial Construction Output by Project Type (Real % Change), 2020–29
- Table 6: Hong Kong, Top Industrial Construction Projects by Value
- Table 7: Hong Kong, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
- Table 8: Hong Kong, Top Infrastructure Construction Projects by Value
- Table 9: Hong Kong, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
- Table 10: Hong Kong, Top Energy and Utilities Construction Projects by Value
- Table 11: Hong Kong, Institutional Construction Output by Project Type (Real % Change), 2020-29
- Table 12: Hong Kong, Top Institutional Construction Projects by Value
- Table 13: Hong Kong, Residential Construction Output by Project Type (Real % Change), 2020-29
- Table 14: Hong Kong, Top Residential Construction Projects by Value
- Table 15: Hong Kong, Key Contractors
- Table 16: Hong Kong, Key Consultants
- Table 17: Hong Kong, Construction Output Value (Real, $ Million)
- Table 18: Hong Kong, Construction Output Value (Nominal, HKD Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: North-East Asia, Construction Output (Real % Change), 2023–29
- Figure 2: Hong Kong, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 3: Hong Kong, Risk Summary
- Figure 4: Hong Kong, Risk Regional Comparison
- Figure 5: Hong Kong, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 6: Hong Kong, Construction Output Value, by Sector (Real, $ Million), 2020–29
- Figure 7: Hong Kong, Construction Value-Add (HKD Million, 2022 Constant Prices)
- Figure 8: Hong Kong, Gross Domestic Fixed Capital Formation in Buildings and Construction (HKD Million, 2022 Constant Prices)
- Figure 9: Hong Kong, Total Number of Sales and Purchase Agreement of Residential and Non-Residential Building
- Figure 10: Hong Kong, Monthly Unemployment in Metropolitan Lima in Thousand (Three-Month Moving Average)
- Figure 11: Hong Kong, Gross Value of Building Construction Works Performed by Main Contractors (2000 Constant Prices, HKD Million)
- Figure 12: Hong Kong, Costs of Labor Index (April 2021 = 100)
- Figure 13: Hong Kong, Construction Projects Momentum Index
- Figure 14: North-East Asia, Construction Projects Momentum Index
- Figure 15: Hong Kong, Commercial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 16: Hong Kong, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 17: Hong Kong, Total Tourist Arrivals (in Thousands)
- Figure 18: Hong Kong, Retail Sales (HKD Billion)
- Figure 19: Hong Kong, Accommodation and Food Services Value-Add (HKD Million, 2022 Chained Prices)
- Figure 20: Hong Kong, Industrial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 21: Hong Kong, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 22: Hong Kong, Manufacturing Production Index (2022=100)
- Figure 23: Hong Kong, Manufacturing Value-Add (HKD Million, 2022 Constant Prices)
- Figure 24: Hong Kong, Total Merchandise Export (HKD Million)
- Figure 25: Hong Kong, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 26: Hong Kong, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 27: Hong Kong, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 28: Hong Kong, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 29: Hong Kong, Domestic Electricity Demand (In Terajoule)
- Figure 30: Hong Kong, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 31: Hong Kong, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: Hong Kong, Residential Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 33: Hong Kong, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 34: Hong Kong, Real Estate Value-Add (HKD Million, 2022 Chained Prices)
- Figure 35: Hong Kong, Gross Value of Building Construction Works Performed by Main Contractors, (2000 Constant Prices, HKD Million)
- Figure 36: Hong Kong, Residential Developments in the Pre-Sale Consents Issued
- Figure 37: Hong Kong, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 38: Hong Kong, Headquarters of Key Consultants (% of Total Project Pipeline)
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