Macau Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
Description
Macau Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
Summary
The construction industry in Macau is expected to contract by 1.6% in real terms in 2023, with the gloomy outlook reflecting wider economic challenges such as rising unemployment and inflation. According to the International Monetary Fund (IMF), annual inflation in the country rose from 0.03% in 2021 to 1% in 2022; it is estimated to further rise to 2.5% this year. Labour shortages and falling demand for residential buildings may further weigh on new investment in the construction industry over the coming months. According to the Statistics and Census Service (DSEC), the total number of residential building permits issued in Macau fell by 69.9% last year, from 1,303 in 2021 to 392 in 2022.
The industry is projected to record an annual average growth rate of 4.3% from 2024 to 2027, supported by investment in the tourism, manufacturing, transport, renewable energy, and housing sectors. The casino operator Wynn Resorts Ltd reaffirmed its commitment in February 2023 to accelerate its promised capital expenditure spending in Macau. Previously, in December 2022, it had committed to investing MOP17.5 billion ($2.2 billion) in Macau, from 2023 to 2032. Of the total, MOP16.7 billion ($2.1 billion) is planned to be invested on expanding international markets and further diversifying non-gaming projects. This includes a plan to invest between MOP397.5 million ($50 million) to MOP1.7 billion ($220 million) on capital expenditure in 2023 alone. The government submitted its 2023 Budget Bill to the legislative assembly in November 2022. The bill includes measures to continue business tax exemptions, tourism tax exemption for restaurants, MOP3,500 ($440.3) reduction in property tax liabilities for both self-use and rental properties, and the exemption of annual industrial tax for commercial and industrial operations.
The report provides detailed market analysis, information and insights into Macau’s construction industry, including -
- Macau’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 Macau’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 Macau. It provides -
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Macau, 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 GlobalData's 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 strategy 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
24 Pages
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Latest news and developments
- 4 Project analytics
- 5 Construction Market Data
- 6 Risk Profile
- 7 Appendix
- 7.1 Definitions
- 7.2 CRI Methodology
- 7.3 About GlobalData
- Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Macau, Top Construction Projects by Value
- Table 3: Macau, Construction Output Value (Real, $ Million)
- Table 4: Macau, Construction Output Value (Nominal, MON Million)
- Table 5: GlobalData Construction Market Definitions
- Table 6: Risk Dimensions
- Table 7: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Macau, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018-27
- Figure 2: Macau, Construction Output Value, by Sector (Real, $ Million), 2018-27
- Figure 3: North-East Asia, Construction Output (Real % Change), 2021-27
- Figure 4: Macau, Construction Output by Sector (Real % Change), 2021-23 and 2024-27
- Figure 5: Macau, Gross Fixed Capital Formation, in Chained 2020 Prices, % Change YoY
- Figure 6: Macau, Domestic Loans to the Private Sector for Construction and Public Works, in MOP Million
- Figure 7: Macau, Number of People Employed in the Construction Industry
- Figure 8: Macau, Total Number of Inbound Tourist Arrivals and Overall Visitor Arrivals, in Thousands
- Figure 9: Macau, Value and Volume Indices of Retail Sales, 04/2015 - 03/2016 = 100
- Figure 10: Macau, Industrial and Manufacturing Production Indices, 2008=100, % Change YoY
- Figure 12: Macau, Electricity Consumption, in Million KWh
- Figure 13: Macau, Water Consumption, in Thousand m3
- Figure 14: Macau, Total Floor Area of Residential Building Permits, in m2
- Figure 15: Macau, Residential Property Price Index (RPPI), 2011=100
- Figure 16: Macau, Number and Value of Residential Real Estate Transactions, % Change YoY
- Figure 17: Macau, Construction Projects Pipeline, Value by Stage ($ Million)
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