Construction value rises to $159.6 billion in 2012

Growth of 15.6% in real terms boosted by 30% rise in private sector projects.

The Census & Statistics Department said the gross value of construction works at private-sector sites totaled $48.5 billion in 2012, up 30% in real terms. The gross value of construction works at public-sector sites amounted to $53.4 billion, up 21% in real terms.

The gross value of construction works at locations other than construction sites amounted to $57.7 billion in 2012, up 1.5% in real terms.

Residential building projects accounted for the largest share, amounting to $36.8 billion, up 40.9% in nominal terms.

Transport projects were the second largest, totaling $29.9 billion, up of 53.1% in nominal terms.

The total gross value of construction works main contractors performed in the fourth quarter increased 15.3% in real terms over a year earlier to $45.4 billion.