Albany, New York, January 24, 2017: According to a new study by Timetric’s Construction Intelligence Center (CIC), Malaysia’s construction industry is proceeding from strength to strength, and with the newly-announced projects it is soon going to touch new levels. The country already has a lot of projects in hand, with an ever-changing urban landscape offering plenty of opportunities. This new study has been encapsulated to offer a detailed market overview and deep insights into the Malaysian construction industry. It is entitled as, “Construction in Malaysia, key trends & opportunities to 2020” which sheds light on the largest driving construction projects in Malaysia along with the leading operators and their profiles.
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Through this analysis, the report stated that Malaysia’s construction industry will be among the rapidly growing sector in the world during the period of 2016 to 2020. In addition to this, during the review period of 2011 to 2015, the industry registered an annual growth rate of 10.7%. Also, the sector is anticipated to develop by close to 7% a year. This growth was truly supported by the 10th Malaysia plan in which government invested heavily in residential buildings, infrastructure and industrial parks. Among these, residential construction was the largest market during the review period accounting for 31% of the industry’s total value. Currently, in Malaysia, government efforts to address the country’s housing shortage will also help the industry to grow in the coming few years. Some of the housing programs expected to drive the construction sector during the forecast period include:
- People’s Housing Program (PPR)
- First House Deposit Financing
- 1Malaysis Civil Servants Housing project
- Program Rumah Mesra Rakyat (PPA1M)
- Syarikat Perumahan Negara Berhad
However, the latest projects are set to boost the industry even more. There are a number of high-value projects already in the pipeline, with affordable housing and highways being constructed, which is making the construction sector even stronger. This growth will be sustained in part by transport and infrastructure mega-projects. However, another factor like low oil prices is expected to impact the government’s competence to invest in major infrastructure plans.
Other key highlights of the government investments are-
- Additionally, with an aim to become a developed nation till the end of 2020, the government is also highly centering on improving its transport infrastructure. This plan is being managed under the Highway National Development Plan (HNDP).
- The government aims to reduce greenhouse gas emission by 40.0% by 2020. Therefore, it plans to raise the share of renewable energy in the nation’s total energy mix from 2.0% in 2015 to 11.0% by 2020.
- The government also plan to increase the airport network under the Runway to Success 2020 plan. In this plan, the state-owned airport operator ‘Malaysia Airports Holdings Bhd (MAHB)’ plans to invest MYR7.0 billion (US$1.8 billion) to improve airport cities by 2020.
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