Press release
According to ConsTrack360, Construction Industry in Malaysia to Grow at a CAGR of 7.2% during 2021-2025 | Data and Trend Analyses | City Level Insights | Green Building Construction Coverage
Construction Industry in Malaysia
As of September 2020, 149 sites out of the 7,590 construction sites inspected by the Construction Industry Development Board were not operational. Thus, making the industry suffer a record decline. However, construction activities have been slowly gaining momentum in the country again since Q3 2020. According to the Department of Statistics Malaysia (DOSM), the value of construction advanced 56.3% in Q3 2020. This is equivalent to RM31.4 billion in Q3 and compared to RM19.8 billion in Q2.
The contraction in the construction industry is also reflected in the growth of the Malaysian economy. According to the Ministry of Finance (MoF), the GDP of the country is expected to contract by 4.5% in 2020. However, the expected ongoing recovery in the construction sector will help the GDP rebound between 6.5% and 7.5% in 2021.
To increase homeownership in Malaysia, the government announced several incentives in budget 2021. For instance, for first time home buyers, the government declared full stamp duty exemption until 2025. This waiver of stamp duty will benefit several Malaysians who are looking to own a house in the country.
Additionally, the government has also extended the stamp duty exemption for buyers of abandoned housing projects in the country. The discount on stamp duty will push new developers to take on half-completed projects and potentially accelerate the completion of abandoned housing projects. Therefore, driving the growth of the residential construction sector in the country.
To boost homeownership among Malaysians, the government has also announced the Rent-to-Own Scheme (RTO) for first-time homebuyers in the country which will enable home buyers to lock in the property based on the current selling price in Malaysia. The scheme which currently involves 5,000 PRIMA properties, will allow the buyers to rent the property from the developer with an option to buy out at the end of the contract period.
Moreover, the government has also announced several measures for the lower-income group in its budget for 2021. For instance, the Malaysian government has allocated RM1.2 billion for building houses for low-income house buyers. The government has also allocated RM315 million for building 3,000 units of Rumah Mesra Rakyat.
Under the People's Housing Program (PPR), the government has allocated RM500 million for constructing 14,000 housing units. For Program Perumahan Penjawat Awam Malaysia (housing program for civil servants), the Malaysian government has allocated RM310 million. All of these factors will keep supporting the recovery of the residential construction market in 2021.
Construction activities have again started on the Rapid Transit System (RTS) Link project between Johor and Singapore. With an estimated cost of RM10 billion (US$2.44 billion), Malaysia will pay around RM3.716 billion (US$908 million) of the total cost. Whereas the remaining cost of the project will be covered by Singapore. Thus, the construction activities of the cross-border light rail transit (LRT) will support the recovery of the construction industry in Malaysia.
Moreover, the acceleration and revival of several mega infrastructure projects are expected to support the construction sector in 2021. Some of these planned projects include Light Rail Transit Line 3, Klang Valley Mass Rapid Transit Line 2 (MRT2), East Coast Rail Link (ECRL), and Pan Borneo Highway (PBH).
According to ConsTrack360's Q2 2021 Global Construction Survey, construction industry in Malaysia is expected to grow by 26.7% to reach US$ 40988.0 million in 2021. Despite near-term challenges in certain construction sectors, medium to long term growth story in Malaysia remains intact. The construction industry in Malaysia is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 7.2% during 2021-2025. The construction output in the country is expected to reach US$ 54128.2 million by 2025.
This report from ConsTrack360 provides data and trend analyses on construction industry in Malaysia, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 140+ charts and 110+ tables. It details market size & forecast, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.
It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks.
Scope
• Market Data and Insights: This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2016-2025 in Malaysia. KPIs covered include the following:
• Market size by value
• Market size by volume of construction
• Number of units
• Malaysia Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Housing type (multi family, single family)
• Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
• Price point / income level (luxury, mid-tier, affordable)
• Construction stage (new construction, re-development & maintenance)
• Malaysia Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Green building by Housing type (multi family, single family)
• Green building by Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
• Green building by Price point / income level (luxury, mid-tier, affordable)
• Malaysia Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Office (further broken down by Grade A, Grade B, and Grade C)
• Retail (further broken down by Grade A, Grade B, and Grade C)
• Hospitality (further broken down by Grade A, Grade B, and Grade C)
• Restaurant (further broken down by Grade A, Grade B, and Grade C)
• Entertainment
• Sports facility
• Construction stage (new construction, re-development & maintenance)
• Malaysia Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Office green building construction
• Retail green building construction
• Hospitality green building construction
• Restaurant green building construction
• Entertainment green building construction
• Sports facility green building construction
• Other commercial green building construction
• Malaysia Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
• Malaysia Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Healthcare construction
• Educational construction
• Public sector
• construction stage (new construction, re-development & maintenance)
• Malaysia Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Healthcare green building construction
• Educational green building construction
• Malaysia Infrastructure Construction Sectors: 10- year market size & forecast in value terms by
• Marine and inland water infrastructure
• Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
• Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
• Construction stage (new construction, re-development & maintenance)
• Malaysia Green Infrastructure Construction: 10- year market size & forecast in value terms
To get detailed insights and FREE sample report please click here @ https://www.constrack360.com/reportstore/view/Malaysia-Construction-Industry-Databook-Series-4038
Reasons to Purchase
• In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of building and infrastructure construction industry in Malaysia.
• Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
• City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.
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ConsTrack360 is a global research and advisory firm providing comprehensive, accurate, and unbiased business intelligence platform on construction industry. Through detailed databases and insights, we offer unmatched detailed and unbiased content globally.
With over 100,000 data points and 300+ reports, we help clients gain actionable insights across 50 countries, which directly impact revenues. For more information, please visit our website www.constrack360.com or email us at info@constrack360.com
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