Construction Expenditure Forecast from 2022 to 2032

The 10-year Construction Expenditure Forecast, released by the Construction Industry Council (CIC) on 25 July 2023, has estimated that the figures will range from HKD240 billion to HKD375 billion (in September 2022 price level) per annum, beginning 2022/23 through 2031/32 (view the full bar chart here).

Read: Construction Manpower Forecast from 2023 to 2027

Aimed at facilitating the industry to allocate resources in advance to cope with large-scale developments, the forecast has mapped out the construction expenditure of various project types in the public and private sectors, covering civil; building; electrical and mechanical; as well as repair, maintenance, alteration and addition works.

For details, please refer to the CIC website. —Construction+ Online

Source: Construction Industry Council