Macau 2007 Construction Progress Shows Strong Growth
November 22, 2008
Filed under Business, Design & Construction, Economy
On-going construction of Macau gaming and tourism facilities, large-scale hotels and private residential projects enabled the Macao Construction Sector to maintain prosperous growth in 2007, for which notable increases were recorded in the principal indicators.
In 2007, a total of 1,621 establishments were operating in construction works, an increase of 21 establishments over 2006; number of persons engaged rose by 7.1% to 27,141. The total value of construction projects amounted to MOP54.77 billion (US$6.85 billion), a significant growth of 36.8% over 2006. Intermediate Consumption of the Sector, including construction materials, rose by 32.7% to MOP43.80 billion. Gross Value Added, a measure of the sectoral contribution to the economy, totalled MOP11.42 billion, up notably by 55.6%.
In 2007, there were 517 private construction projects in progress, with the total value of construction amounting to MOP50.40 billion, of which the construction of large-scale hotels and the gaming and tourism facilities shared MOP43.61 billion, up notably by 40.4% over 2006; the value of the construction of private residential projects registered a surge of 78.4%, at MOP4.31 billion. As regard the government sector, a total of 586 construction projects were in progress and the respective value dropped by 10.8% year-on-year to MOP4.37 billion, of which construction of infrastructure projects amounted to MOP 2.44 billion, down by 31.4%, reports GCS.
There were 828 construction projects in the Macao Peninsula, with the value of construction (MOP26.61 billion) accounting for 48.6% of the total. Meanwhile, 35 projects were in the CoTai area and the respective value of construction (MOP22.93 billion) shared 41.9% of the total.
The Construction Survey 2007 covered establishments engaging in private construction projects licensed by the Macau Lands, Public Works and Transport Bureau, as well as construction projects of the government sector.
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