HK construction works gross value up 3.1%

The total gross value of construction works main contractors performed in the first quarter of 2010 in Hong Kong grew 3.1 percent in nominal terms over a year earlier, to 25.1 billion HK dollars in Hong Kong, the Census and Statistics Department of Hong Kong announced on Friday.

After discounting the effect of price changes, the total gross value of these construction works fell 0.5 percent in real terms over the same period.

The gross value of construction works performed at private- sector sites totaled 6.4 billion HK dollars in the first quarter, down 26.1 percent in nominal terms over a year earlier. In real terms, it fell 29.1 percent. In general, the decrease was evenly spread across the private residential building projects and private commercial building projects.

The gross value of construction works performed at public- sector sites rose 66.1 percent in nominal terms, to 6.6 billion HK dollars in the first quarter. In real terms, it rose 63.7 percent.

The gross value of construction works main contractors performed at locations other than construction sites amounted to 12.1 billion HK dollars in the first quarter, up 3.1 percent in nominal terms over a year earlier. In real terms, it dipped 0.8 percent. (1 U.S. dollar = 7.793 HK dollars)

Source: Xinhua