Macau Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H2 2025)
Description
Macau Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H2 2025)
Summary
The construction industry in Macau is estimated to contract by 12.2% in real terms in 2025 and 1.4% in 2026, owing to high base effect, a decline in building permits issued, and rife political instability domestically. According to the Direcção dos Serviços de Estatística e Census (DSEC), the total value of domestic loans provided to the private sector for construction and public works fell by 7% in the first nine months of 2025, declining from MOP60.6 billion ($7.6 billion) in January-September 2024 to MOP56.3 billion ($7.1 billion) in January-September 2025. The number of people employed in the construction industry declined by 10.8% in the first nine months of 2025, falling from 26,300 in January-September 2024 to 23,466 in January-September 2025. In 2024, the average number of people employed in the industry declined by 6.5%, according to the DSEC.
Over the remainder of the forecast period, the construction industry in Macau is estimated to register an average annual growth rate of 4.4% from 2027 to 2029, supported by investments in transport, electricity, and housing infrastructure projects. In July 2025, Macau’s Legislative Assembly passed the landmark Investment Funds Law (IFL), set to take effect from January 1st, 2026, as a major step in the Macau SAR (Special Administrative Region) “1 + 4” economic diversification strategy. The law modernizes Macau’s investment fund regime by expanding fund types, removing entry barriers, enhancing investor protection, and aligning regulations with global standards. It introduces public and private funds, allows new organizational forms like limited partnerships, and streamlines cross-border fund activities. The IFL also abolishes previous minimum investor and subscription thresholds, reduces supervisory fees, and enables fund managers to offer a wider range of services. These changes are expected to attract both local and international fund sponsors, boost asset management, and foster financial innovation in Macau. For the construction industry, this law will stimulate demand for financial hubs and infrastructure projects, leading to increased investment in infrastructure developments and supporting long-term growth in the industry.
GlobalData’s Construction in Macau - Country Briefing (H2 2025) report provides detailed market analysis, information, and insights into Macau's construction industry, including -
This report provides a comprehensive analysis of the construction industry in Macau. It provides -
Summary
The construction industry in Macau is estimated to contract by 12.2% in real terms in 2025 and 1.4% in 2026, owing to high base effect, a decline in building permits issued, and rife political instability domestically. According to the Direcção dos Serviços de Estatística e Census (DSEC), the total value of domestic loans provided to the private sector for construction and public works fell by 7% in the first nine months of 2025, declining from MOP60.6 billion ($7.6 billion) in January-September 2024 to MOP56.3 billion ($7.1 billion) in January-September 2025. The number of people employed in the construction industry declined by 10.8% in the first nine months of 2025, falling from 26,300 in January-September 2024 to 23,466 in January-September 2025. In 2024, the average number of people employed in the industry declined by 6.5%, according to the DSEC.
Over the remainder of the forecast period, the construction industry in Macau is estimated to register an average annual growth rate of 4.4% from 2027 to 2029, supported by investments in transport, electricity, and housing infrastructure projects. In July 2025, Macau’s Legislative Assembly passed the landmark Investment Funds Law (IFL), set to take effect from January 1st, 2026, as a major step in the Macau SAR (Special Administrative Region) “1 + 4” economic diversification strategy. The law modernizes Macau’s investment fund regime by expanding fund types, removing entry barriers, enhancing investor protection, and aligning regulations with global standards. It introduces public and private funds, allows new organizational forms like limited partnerships, and streamlines cross-border fund activities. The IFL also abolishes previous minimum investor and subscription thresholds, reduces supervisory fees, and enables fund managers to offer a wider range of services. These changes are expected to attract both local and international fund sponsors, boost asset management, and foster financial innovation in Macau. For the construction industry, this law will stimulate demand for financial hubs and infrastructure projects, leading to increased investment in infrastructure developments and supporting long-term growth in the industry.
GlobalData’s Construction in Macau - Country Briefing (H2 2025) 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 (2020-2024) and forecast (2025-2029) 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 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
27 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
- 8 Contact Us
- List of Figures
- Figure 1: Macau, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 2: Macau, Construction Output Value, by Sector (Real, $ Million), 2020–29
- Figure 3: North-East Asia, Construction Output (Real % Change), 2023–29
- Figure 4: Macau, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 5: Macau, Gross Fixed Capital Formation (Chained 2022 Prices, % Change YoY)
- Figure 6: Macau, Domestic Loans to the Private Sector for Construction and Public Works (MOP Million)
- Figure 7: Macau, Number of People Employed in the Construction Industry
- Figure 8: Macau, Total Floor Area of Residential Building Permits, in m2
- Figure 9: Macau, Residential Property Price Index (RPPI), 2011=100
- Figure 10: Macau, Number and Value of Residential Real Estate Transactions, % Change YoY
- Figure 11: Macau, Total Number of Inbound Tourist Arrivals and Overall Visitor Arrivals, in Thousands
- Figure 12: Macau, Value and Volume Indices of Retail Sales, 04/2015 - 03/2016 = 100
- Figure 13: Macau, Merchandise exports (MOP Million)
- Figure 14: Macau, Electricity Consumption (Million KWh)
- Figure 15: Macau, Water Consumption (thousand m3)
- Figure 16: Macau, Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 17: Macau, Risk Summary
- Figure 18: Macau, Risk Regional Comparison
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