Construction starts slip 2% in 2nd quarter

Abstract: The value of construction starts in Southeast Asia and Hong Kong slipped 2% in the 2nd quarter of 2010 after climbing 12% in the first quarter.

BCI Asia recorded a 2% decrease in the value of projects starting construction in Southeast Asia and Hong Kong in the latest quarter because of a sharp downard trend in the value of government projects. The value of government-funded construction starts declined 9% from the first quarter to USD10.4 billion while private-funded project starts increased 1% to USD23.1 billion.

Government project starts declined significantly in the utilities and transport sectors, partly offset by a USD700 million rise in government-funded infrastructure starts. Meanwhile, major increases in private-sector funded starts were directed towards retail, utilities and industrial sectors. Click here for the Regional Construction Starts Report by BCI Asia.

In the latest quarter the value of construction starts increased in Vietnam, Malaysia and Hong Kong.

Markets which declined in the latest quarter included the Philippines, Indonesia, Thailand and Singapore.

The Construction Starts Report describes the value of projects starting construction in quarterly periods for the last three years as reported by BCI Asia in Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. The report’s data is sourced from approximately 50,000 reports by BCI Asia on significant building and construction projects (www.bciasia.com/project_leads).