In response to the industry’s need of a construction expenditure forecast to facilitate better planning, the CIC formed a “Focus Group on Projected Construction Expenditure” to provide projections of Hong Kong’s construction expenditure in the coming 10 years.
    The Focus Group comprises 13 members from contractor associations, consultants, professional institutions and representatives from the HKSAR Government. The objective of the forecast is to provide industry stakeholders with a projection of construction expenditure in the public and private sectors over a 10-year period. Medium to long term construction expenditure forecasts will greatly assist industry stakeholders in forward planning and decision making.
     The forecast is released on a yearly basis, or otherwise deemed necessary. Three periods are covered in the construction expenditure forecast: (i) update on the historical trend using statistics published by the Census and Statistics Department (C&SD) up to 2013/14; (ii) mid-term forecast up to 2014/15; and (iii) long-term forecast up to 2023/24.
     The public works expenditure forecast is provided by Development Bureau based on projects in progress and under planning. The mid-term forecast of the construction expenditure in the private sector is projected using research data on building floor area completion estimated by property surveying firms and other relevant statistics.
     To update the second construction expenditure forecast released by the CIC in October 2013, the following have been compiled and incorporated into the latest expenditure forecast:

     For the statistical data of the past 10 years, the construction expenditure is presented by rectangular bar chart. For the next ten-year projection, the construction expenditure forecast is presented by irregular bar chart with the indication of lower and upper bound levels.
     The Construction Expenditure Forecast 2014/15 - 2023/24 is available at website <click here>