2019 construction, property & engineering market outlook

As trade activities become more challenging to negotiate between the East and the West, China’s territories will look to inland developments for more business development and job opportunities. These vital big-ticket projects include the development of the Belt-and-Road initiative connecting China with more than 60 markets around the world, which will be instrumental in driving larger economic growth for Asian and emerging markets. Despite the project’s financing woes as a result of futile negotiations with several foreign state leaders, local construction companies are still bidding for contracts to work on one of the world’s largest infrastructure projects that will support on-land and sea trading routes.


While the external environment continues to evolve and advance, construction, property and engineering companies will place a larger focus on retainers and projects in Hong Kong to ensure business growth. The key sectors that are likely to see more growth and expansion include office, residential and retail.

 

increasing demand for office spaces in hong kong.

 

Despite the market uncertainty, many international companies, including those that are headquartered in China, continue to choose to establish a presence in Hong Kong in order to gain a larger market share in Asia. This influx of new entrants could lead to an increased demand for office spaces, which in turn will benefit office retailers as they can not only reduce the number of vacancies but also raise rental prices.

Companies that are establishing a presence or expanding their operations are also more likely to rent office spaces in New Territories or Kowloon for their attractive prices, compared to the high-priced business districts in Hong Kong Island.

To read more, download our 2019 market outlook & salary snapshot here.


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