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NOTE: Construction+ Begins A New Journey
With effect from 3rd Quarter 2018, Construction+ magazine will embark on a new journey to focus on developing into a multi-platform content provider to deliver impactful content through our app, website and social media accounts to reach a broader target audience.
As such, we will be transforming Construction+ Indonesia, Hong Kong, Malaysia and Singapore into a quarterly publication (from a bimonthly one). Construction+ Malaysia and Singapore will combine to become one Malaysia & Singapore edition.
Construction+ will continue to be a critical knowledge-driven magazine, highly engaging and trusted as a source of information for the industry.
When we were looking for a common thread as the theme of this year’s report, we were struck more by the differences than any similarities between the circumstances of and prospects for Indonesia, Malaysia, the Philippines and Singapore.
Singapore, currently going through a medium term economic restructuring plan, may need some time for the benefits, particularly the productivity benefits, to work through and provide sustainable growth opportunities. Our expectation is that construction commencements will decline in 2015 and this sombre view seems to be shared by the construction industry professionals we interviewed for our Sentiment Survey. In contrast, the Philippines has been enjoying good economic growth and the respondents to our Sentiment Survey were noticeably more upbeat about their prospects. No wonder then that our forecasts for 2015 show an expected 37% increase in construction starts over 2014 with solid contributions from both the building and civil sectors. Somewhere in the middle, Malaysia has managed to maintain GDP growth despite the challenging global economic environment and we expect a more modest 14% growth in construction starts. However, the civil construction forecast at 48% would at first sight be worrying but several massive projects were launched this year and there will plenty of work in progress available during 2015. Our construction starts forecast for Indonesia is also 14% above the level for 2014, although in this case the growth forecast for civil construction is a very healthy + 26%. And no doubt the very positive responses to our Sentiment Survey from the Indonesian construction industry professionals were enhanced by the optimism surrounding the election of a popular new president. One region –4 scenarios, and we are confident the opportunities are contained in this year’s report which is why we arrived at the title “Succeeding in Different Markets”. With our very best wishes for your good health and success in the coming year and the years to follow. (Petra Berning)
Published: November 2014
Format: Soft Copy PDF
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