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Hong Kong infrastructure market: Construction falls to 1% growth in Q1 2013

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Hong Kong Infrastructure Report Q3 2013 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-24 09:21:04
As expected, construction activity in Hong Kong has decelerated, registering a low 1% y-o-y growth in Q113. We believe this is due to high-base effects, a near-term decline in the project pipeline and the potential for a steep slowdown in China´s economic activity. As such, we maintain our view that construction growth in 2013 is unlikely to surpass previous highs, and will be lower than 2012. We are forecasting construction real growth in Hong Kong to decelerate from 11.3% in 2012 to 4.0% in 2013.

However, we reiterate that this outlook does not mean a dearth in growth opportunities in the city over the long-term as the government has a large number of construction projects planned over the coming years.

Key developments in Hong Kong´s infrastructure sector:

- In March 2013, MTR announced that it was scheduled to start a HKD1.6bn project to develop the Diamond Hill station in mid-April 2013. The upgraded and enlarged Diamond Hill Station will serve as the future interchange station between the Shatin to Central Link and the Kwun Tong Line. The move is part of MTR´s strategy to transform Diamond Hill station into a major new railway hub for East Kowloon when the first phase of the SCL starts service in 2018.

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Mike King
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