Building starts forecast for 4th quarter

Abstract: Indonesia’s scheduled building starts are up 92% for the year from 1 October 2008 compared to a year earlier.

Scheduled building starts for the combined region of Hong Kong and Southeast Asia are up 35% by floor area for the year from 1 October 2008 from a year earlier, according to data from the BCI Asia construction information service. Click here for BCI Asia Building Starts Forecast: 4th Quarter 2008 to 3rd Quarter 2009.

Indonesia enjoys the strongest growth rate (92%) in scheduled building starts for the annual period followed by Vietnam (85%), Philippines (74%), Hong Kong (57%),   Malaysia (13%) and Thailand (1%). Scheduled starts for Singapore are down 42% on an extraordinarily active prior annual period in which the Marina Integrated Resort project got underway.

Non-residential building starts are up 31% for the region, driven by a surge in Hong Kong (122%), Indonesia (105%), Vietnam (50%) and Malaysia (22%). Large residential starts are up 40% across the region driven by Vietnam, the Philippines and Indonesia.