1、CHINA&HONG KONG2020Electronic Cost HandbookYou can access a soft copy of the Construction Cost Handbook by:1.Download the PDF version from our website to your mobile or tablet device.Go to Click Research and Publications on the homepage Scroll down and click Download the Handbooks Scroll down to 202
2、0 China and Hong Kong Click the Download Now button to access2.For mobiles and tablets,scan the QR code below to directly access the PDF file.Handbook Cover Photos:-1.HKSAR Inland Revenue Tower in Kai Tak Development Area2.China Life Finance Centre,Beijing3.Cingleot Premium Logistics Centre,Hong Kon
3、g4.Shanghai Magnolia Plaza5.Qingmao Port Immigration Building,Macau13452The following handbook of information relating to theconstruction industry has been compiled by:Arcadis Hong Kong Limited17/F,Two Harbour Square,180 Wai Yip Street Kwun Tong,Kowloon Hong Kong Telephone:(852)2911 2000Fax:(852)291
4、1 2002Email:info-Website: Arcadis Hong Kong Limited 2020 All rights reserved.No part of this publication may be re-produced or copied in any form without prior written permission from Arcadis Hong Kong Limited.The information contained herein should be regarded as indicative and for general guidance
5、 only.Whilst every effort has been made to ensure accuracy,no responsibility can be accepted for errors and omissions,however caused.If advice concerning individual projects is required,we would be happy to assist.Unless otherwise stated,costs refl ected in this handbook are Hong Kong costs at 4th Q
6、uarter 2019.Arcadis Hong Kong Limited would like to acknowledge the assistance of Knight Frank and Baker McKenzie FenXun in providing additional data and information for this publication.ISO 9001:2015Certifi cate No.:FS684805ISO 14001:2015Certifi cate No.:EMS685471OHSAS 18001:2007Certifi cate No.:OH
7、S6854711TABLE OF CONTENTSTable of Contents 1Calendars 3About Us 51.CONSTRUCTION COST DATAConstruction Costs for Hong Kong 9M&E Costs for Hong Kong 11ACMV Costs for Various Designs and Developments in Hong Kong 13Fit-out Costs for Hong Kong 15Unit Costs for Ancillary Facilities for Hong Kong 17Constr
8、uction Costs for Selected Asian Cities 19M&E Costs for Selected Asian Cities 25Major Rates for Selected Asian Cities 31Construction Cost Specifi cation 372.GENERAL CONSTRUCTION DATA2020 Outlook 43Building Cost Trends in Hong Kong 49Material Prices in Hong Kong 53Labour Index in Hong Kong 56Labour Wa
9、ges in Hong Kong 57Estimating Rules of Thumb and Design Norms 59Construction Activity in Hong Kong 65Construction Value in Hong Kong 66Hong Kong General Construction Insurance 67Specifi ed Forms for Buildings Ordinance or Regulations for Hong Kong 69Summary of Building Regulations for Hong Kong 73Pe
10、rcentage Site Coverage and Plot Ratios for Hong Kong 74Evolving Regulations for Green Building in China 77Procurement Strategies and Form of Contracts 83Construction Workdone Forecast 87TABLE OF CONTENTS23.PROPERTYP rop erty Commen tary 2019 89P rop erty In d icators 95Gross Floor Area(GFA)Calcu lat
11、ion s in H on g K on g 97Gross Floor Area(GFA)Calcu lation s in P R C 99ConstructionFloorArea(CFA)Definition1014.FINANCIALFinancialDefinitions103Fin an cial Formu lae 104Mortgage R ep aymen t Table 105CompositeCPI106P rime R ates 107Exch an ge R ates 109Cu rren cy Charts 111H an g Sen g In d ex 1145
12、.OTHER INFORMATIONUtility Costs for Selected Asian Cities 117K ey City In d icators 121Con version Factors 123IDDCodesandTimeDifferences125P u blic H olid ays 127Arcad is Asia Lead ership Team 135Arcad is Asia Services 137DirectoryofOffices139H ealth&Safety Man agemen t System 154Q u ality Man ageme
13、n t System 155EnvironmentalManagementSystem156Telep hon e Directory 157TAB L E OF C ONTENTS3CALENDARS 20202019 CALENDARS 2019JANUARY FEBRUARY MARCHS M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 1 2 1 2 6 7 8 9 10 11 12 3 4 5 6 7 8 9 3 4 5 6 7 8 9 13 14 15 16 17 18 19 10 11 12 13 14 15 16 10 11
14、12 13 14 15 1620 21 22 23 24 25 26 17 18 19 20 21 22 23 17 18 19 20 21 22 23 27 28 29 30 31 24 25 26 27 28 24/31 25 26 27 28 29 30APRIL MAY JUNES M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6 1 2 3 4 17 8 9 10 11 12 13 5 6 7 8 9 10 11 2 3 4 5 6 7 8 14 15 16 17 18 19 20 12 13 14 15 16 17 18 9 1
15、0 11 12 13 14 15 21 22 23 24 25 26 27 19 20 21 22 23 24 25 16 17 18 19 20 21 22 28 29 30 26 27 28 29 30 31 23/3024 25 26 27 28 29JULY AUGUST SEPTEMBERS M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6 1 2 3 1 2 3 4 5 6 77 8 9 10 11 12 13 4 5 6 7 8 9 10 8 9 10 11 12 13 14 14 15 16 17 18 19 20 11 1
16、2 13 14 15 16 17 15 16 17 18 19 20 21 21 22 23 24 25 26 27 18 19 20 21 22 23 24 22 23 24 25 26 27 28 28 29 30 31 25 26 27 28 29 30 31 29 30OCTOBER NOVEMBER DECEMBERS M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 1 2 1 2 3 4 5 6 76 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 1413 14 15 16 17 18
17、19 10 11 12 13 14 15 16 15 16 17 18 19 20 2120 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 2827 28 29 30 31 24 25 26 27 28 29 30 29 30 31 2020JANUARY FEBRUARY MARCHS M T W T F S S M T W T F S S M T W T F S 1 2 3 4 1 1 2 3 4 5 6 75 6 7 8 9 10 11 2 3 4 5 6 7 8 8 9 10 11 12 13 1412 13 14 1
18、5 16 17 18 9 10 11 12 13 14 15 15 16 17 18 19 20 2119 20 21 22 23 24 25 16 17 18 19 20 21 22 22 23 24 25 26 27 2826 27 28 29 30 31 23 24 25 26 27 28 29 29 30 31APRIL MAY JUNES M T W T F S S M T W T F S S M T W T F S 1 2 3 4 1 2 1 2 3 4 5 65 6 7 8 9 10 11 3 4 5 6 7 8 9 7 8 9 10 11 12 1312 13 14 15 16
19、 17 18 10 11 12 13 14 15 16 14 15 16 17 18 19 2019 20 21 22 23 24 25 17 18 19 20 21 22 23 21 22 23 24 25 26 2726 27 28 29 30 24/31 25 26 27 28 29 30 28 29 30JULY AUGUST SEPTEMBERS M T W T F S S M T W T F S S M T W T F S 1 2 3 4 1 1 2 3 4 55 6 7 8 9 10 11 2 3 4 5 6 7 8 6 7 8 9 10 11 1212 13 14 15 16
20、17 18 9 10 11 12 13 14 15 13 14 15 16 17 18 1919 20 21 22 23 24 25 16 17 18 19 20 21 22 20 21 22 23 24 25 2626 27 28 29 30 31 23/3024/31 25 26 27 28 29 27 28 29 30 OCTOBER NOVEMBER DECEMBERS M T W T F S S M T W T F S S M T W T F S 1 2 3 1 2 3 4 5 6 7 1 2 3 4 54 5 6 7 8 9 10 8 9 10 11 12 13 14 6 7 8
21、9 10 11 1211 12 13 14 15 16 17 15 16 17 18 19 20 21 13 14 15 16 17 18 1918 19 20 21 22 23 24 22 23 24 25 26 27 28 20 21 22 23 24 25 2625 26 27 28 29 30 31 29 30 27 28 29 30 31 42022 2021CALENDARS 2021 JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S 1 2 1 2 3 4 5 6 1 2 3 4 5 6 3 4 5
22、6 7 8 9 7 8 9 10 11 12 13 7 8 9 10 11 12 1310 11 12 13 14 15 16 14 15 16 17 18 19 20 14 15 16 17 18 19 2017 18 19 20 21 22 23 21 22 23 24 25 26 27 21 22 23 24 25 26 27 24/31 25 26 27 28 29 30 28 28 29 30 31 APRIL MAY JUNE S M T W T F S S M T W T F S S M T W T F S 1 2 3 1 1 2 3 4 5 4 5 6 7 8 9 10 2 3
23、 4 5 6 7 8 6 7 8 9 10 11 12 11 12 13 14 15 16 17 9 10 11 12 13 14 15 13 14 15 16 17 18 19 18 19 20 21 22 23 24 16 17 18 19 20 21 22 20 21 22 23 24 25 2625 26 27 28 29 30 23/30 24/31 25 26 27 28 29 27 28 29 30 JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 1 2 3 4 5 6 7 1 2 3 4
24、 4 5 6 7 8 9 10 8 9 10 11 12 13 14 5 6 7 8 9 10 1111 12 13 14 15 16 17 15 16 17 18 19 20 21 12 13 14 15 16 17 18 18 19 20 21 22 23 24 22 23 24 25 26 27 28 19 20 21 22 23 24 2525 26 27 28 29 30 31 29 30 31 26 27 28 29 30 OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 1 2 3 4
25、5 6 1 2 3 4 3 4 5 6 7 8 9 7 8 9 10 11 12 13 5 6 7 8 9 10 11 10 11 12 13 14 15 16 14 15 16 17 18 19 20 12 13 14 15 16 17 18 17 18 19 20 21 22 23 21 22 23 24 25 26 27 19 20 21 22 23 24 2524/31 25 26 27 28 29 30 28 29 30 26 27 28 29 30 31 2022 JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W
26、T F S 1 1 2 3 4 5 1 2 3 4 5 2 3 4 5 6 7 8 6 7 8 9 10 11 12 6 7 8 9 10 11 12 9 10 11 12 13 14 15 13 14 15 16 17 18 19 13 14 15 16 17 18 1916 17 18 19 20 21 22 20 21 22 23 24 25 26 20 21 22 23 24 25 2623/30 24/31 25 26 27 28 29 27 28 27 28 29 30 31 APRIL MAY JUNE S M T W T F S S M T W T F S S M T W T
27、F S 1 2 1 2 3 4 5 6 7 1 2 3 4 3 4 5 6 7 8 9 8 9 10 11 12 13 14 5 6 7 8 9 10 1110 11 12 13 14 15 16 15 16 17 18 19 20 21 12 13 14 15 16 17 1817 18 19 20 21 22 23 22 23 24 25 26 27 28 19 20 21 22 23 24 2524 25 26 27 28 29 30 29 30 31 26 27 28 29 30 JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M
28、 T W T F S 1 2 1 2 3 4 5 6 1 2 3 3 4 5 6 7 8 9 7 8 9 10 11 12 13 4 5 6 7 8 9 1010 11 12 13 14 15 16 14 15 16 17 18 19 20 11 12 13 14 15 16 1717 18 19 20 21 22 23 21 22 23 24 25 26 27 18 19 20 21 22 23 24 24/31 25 26 27 28 29 30 28 29 30 31 25 26 27 28 29 30 OCTOBER NOVEMBER DECEMBER S M T W T F S S
29、M T W T F S S M T W T F S 1 1 2 3 4 5 1 2 3 2 3 4 5 6 7 8 6 7 8 9 10 11 12 4 5 6 7 8 9 10 9 10 11 12 13 14 15 13 14 15 16 17 18 19 11 12 13 14 15 16 1716 17 18 19 20 21 22 20 21 22 23 24 25 26 18 19 20 21 22 23 2423/30 24/31 25 26 27 28 29 27 28 29 30 25 26 27 28 29 30 31 5ARCADIS HONG KONG LIMITEDA
30、RCADIS HONG KONG LIMITED ABOUT USArcadis is the leading global Design&Consultancy fornatural and built assets.Applying our deep market sectorinsights and collective design,consultancy,engineeringand project management services we work in partnershipwith our clients to deliver exceptional and sustain
31、ableoutcomes throughout the lifecycle of their natural andbuilt assets.In Asia,we have over 4,000 people coveringthe multiple market across all sectors focused on improvingquality of life.Arcadis has a long history of leading expertise in providingCost Management capabilities that ensure our clients
32、projects are delivered with a competitive advantage,exceed project requirements and deliver sustainableoutcomes.Our Cost Management heritage is particularlystrong in Greater China having set-up our fi rst offi ce inHong Kong back in 1949.We entered the Mainland Chinamarket in 1984,introducing modern
33、 Cost Managementtechniques to its newly evolving construction market.Ourinitial commissions were from Hong Kong and foreigndevelopers investing in China,however since then ourclient base has grown to include state-owned enterprisesand local developers.We are committed to further extending our profes
34、sionalexpertise to include new areas like whole-life costing,and supporting the growing number of clients in Asia whoare looking for high quality Cost Management solutionsas they embark on projects in other parts of the world.Furthermore,we have aligned our operating modelsto facilitate innovation,e
35、ase knowledge transfer andenable the sharing of best practices.We work to ensureclients have access to our best resources,delivering themost appropriate solutions,at a cost that meets theirrequirements.6ARC AD IS HONG K ONG L IMITED OUR CORE VALUESPeople FirstWe care for each other an d create a saf
36、e an d resp ectfu l workin g en viron men t where ou r p eop le can grow,p erform,an d su cceed.IntegrityWe always work to the highest p rofession al an d ethical stan d ard s an d establish tru st by bein g op en,hon est an d resp on sible.Client SuccessWe are p assion ate abou t ou r clien ts su c
37、cess an d brin g in sights,agility,an d in n ovation to co-create valu e.CollaborationWe valu e the p ower of d iversity an d ou r global cap abilities an d d eliver ex cellen ce by workin g as On e Arcad is.SustainabilityWe base ou r action s for clien ts an d commu n ities on en viron men tal resp
38、 on sibility an d social an d econ omic ad van cemen t.CONSTRUCTION COST DATA1Construction Costs for Hong KongM&E Costs for Hong Kong ACMV Costs for Various Designs and Developments in Hong Kong Fit-out Costs for Hong KongUnit Costs for Ancillary Facilities for Hong Kong Construction Costs for Selec
39、ted AsianCitiesM&E Costs for Selected Asian Cities Major Rates for Selected Asian CitiesConstruction Cost Specifi cationCONSTRUCTION COST DATA19 CONSTRUCTION COST DATACONSTRUCTION COSTS FOR HONG KONGBUILDING TYPEHK$/m2 CFABUILDINGSERVICESTOTALDOMESTICApartments,high rise,public authority standard 9,
40、050 -10,950 1,950 -2,350 11,000 -13,300Apartments,high rise,average standard 19,700 -21,700 3,900 -5,600 23,600 -27,300Apartments,high rise,high end 25,730 -29,000 4,870 -6,600 30,600 -35,600Terraced houses,average standard 28,550 -32,500 3,650 -4,800 32,200 -37,300Detached houses,high end 41,200 up
41、 6,000 up 47,200 upOFFICE/COMMERCIALMedium/high rise offi ces,average standard 17,550 -19,750 5,550 -6,950 23,100 -26,700High rise offi ces,prestige quality 21,650 -24,450 6,150 -7,750 27,800 -32,200Out-of-town shopping centre,average standard 17,050 -20,200 5,950 -6,800 23,000 -27,000Retail malls,h
42、igh end 23,800 -28,150 6,200 -7,650 30,000 -35,800CONSTRUCTION COSTS FOR HONG KONGC ONS TRU C TION C OS T D ATA1 0Th e a b o v e c o s t s a r e a t 4th Quarter 2019 le v e ls.HOTELSB u d g e t h o t e ls -3-s t a r,m id m a r k e t 2 2,7 5 0 -2 3,1 5 0 6,9 5 0 -8,4 5 0 2 9,7 0 0 -3 1,6 0 0B u s in
43、e s s h o t e ls -4/5-s t a r 2 3,1 5 0 -2 6,2 5 0 7,6 5 0 -9,5 5 0 3 0,8 0 0 -3 5,8 0 0L u x u r y h o t e ls -5-s t a r 2 8,1 5 0 -3 1,6 5 0 7,6 5 0 -9,5 5 0 3 5,8 0 0 -4 1,2 0 0INDUSTRIALOw n e r o p e r a t e d f a c t o r ie s,lo w r is e,lig h t w e ig h t in d u s t r y 1 5,6 9 0 -1 9,4 8 0 2
44、,2 1 0 -3,0 2 0 1 7,9 0 0 -2 2,5 0 0OTHERSU n d e r g r o u n d/b a s e m e n t c a r p a r k s (3 le v e ls)2 2,4 1 0 -2 6,3 5 0 2,5 9 0 -3,6 5 0 2 5,0 0 0 -3 0,0 0 0Mu lt i s t o r e y c a r p a r k s,a b o v e g r o u n d(4 le v e ls)1 3,0 0 0 -1 4,7 2 0 2,0 0 0 -3,0 8 0 1 5,0 0 0 -1 7,8 0 0S c h
45、 o o ls (p r im a r y a n d s e c o n d a r y)1 6,5 0 0 -1 7,2 0 0 3,0 0 0 -3,8 0 0 1 9,5 0 0 -2 1,0 0 0S t u d e n t s r e s id e n c e s 1 7,6 5 0 -1 9,5 5 0 4,7 5 0 -5,8 5 0 2 2,4 0 0 -2 5,4 0 0S p o r t s c lu b s,m u lt i p u r p o s e s p o r t s/le is u r e c e n t r e s (d r y s p o r t s)w
46、it h a/c a n d in c lu d in g FF&E 2 3,3 0 0 -2 6,1 0 0 6,0 0 0 -7,7 0 0 2 9,3 0 0 -3 3,8 0 0G e n e r a l h o s p it a ls -p u b lic s e c t o r 2 9,0 0 0 -3 1,0 5 0 8,5 0 0 -1 0,7 5 0 3 7,5 0 0 -4 1,8 0 0CONSTRUCTION COST DATA111 CONSTRUCTION COST DATAM&E COSTS FOR HONG KONGBUILDING TYPEHK$/m2 CFA
47、MECHANICAL SERVICESELECTRICAL SERVICESFIRE SERVICESLIFTS/ESCALATORSHYDRAULIC SERVICESTOTALSERVICESDOMESTICApartments,high rise,public authority standard-600-700150-200300-350 900-1,1001,950-2,350Apartments,high rise,average standard 850-1,0001,050-1,350200-600450-7501,350-1,9003,900-5,600Apartments,
48、high rise,high end1,250-1,5001,270-1,550200-600550-8501,600-2,1004,870-6,600Terraced houses,average standard1,050-1,4001,100-1,400100-200-1,400-1,8003,650-4,800Detached houses,high end2,000 up2,100 up100 up-1,800 up6,000 upOFFICE/COMMERCIALMedium/high rise offi ces,average standard1,880-2,3001,720-2
49、,200550-700700-900700-8505,550-6,950High rise offi ces,prestige quality2,050-2,6502,000-2,400550-700 850-1,150700-8506,150-7,750Out-of-town shopping centre,average standard2,100-2,3501,750-1,950550-700850-950700-8505,950-6,800Retail malls,high end2,100-2,6502,000-2,400550-700 850-1,000700-9006,200-7
50、,650M&E COSTS FOR HONG KONGC ONS TRU C TION C OS T D ATA1 2Th e a b o v e c o s t s a r e a t 4th Quarter 2019 le v e ls.HOTELSB u d g e t h o t e ls -3-s t a r,m id m a r k e t2,1 0 0 -2,3 5 01,9 0 0 -2,2 0 06 0 0 -8 5 05 5 0 -7 5 01,8 0 0 -2,3 0 06,9 5 0 -8,4 5 0B u s in e s s h o t e ls -4/5-s t
51、a r2,2 0 0 -2,5 5 02,2 0 0 -2,5 0 06 0 0 -8 5 05 5 0 -8 5 02,1 0 0 -2,8 0 07,6 5 0 -9,5 5 0L u x u r y h o t e ls -5-s t a r2,2 0 0 -2,5 5 02,2 0 0 -2,5 0 06 0 0 -8 5 05 5 0 -8 5 02,1 0 0 -2,8 0 07,6 5 0 -9,5 5 0INDUSTRIALOw n e r o p e r a t e d f a c t o r ie s,lo w r is e,lig h t w e ig h t in d
52、u s t r y1 6 0 -2 6 06 2 0 -8 6 04 0 0 -5 0 05 5 0 -7 5 04 8 0 -6 5 02,2 1 0 -3,0 2 0OTHERSU n d e r g r o u n d/b a s e m e n t c a r p a r k s (3 le v e ls)8 7 0 -1,0 5 06 2 0 -1,0 0 03 5 0 -4 5 03 5 0 -4 5 04 0 0 -7 0 02,5 9 0 -3,6 5 0Mu lt i s t o r e y c a r p a r k s,a b o v e g r o u n d (4 l
53、e v e ls)3 5 0 -6 6 05 5 0 -8 2 03 5 0 -4 5 03 5 0 -4 5 04 0 0 -7 0 02,0 0 0 -3,0 8 0S c h o o ls (p r im a r y a n d s e c o n d a r y)7 5 0 -9 5 01,0 5 0 -1,2 5 04 5 0 -5 5 02 0 0 -3 5 05 5 0 -7 0 03,0 0 0 -3,8 0 0S t u d e n t s r e s id e n c e s7 5 0 -9 5 01,8 0 0 -2,0 0 06 0 0 -8 5 02 0 0 -3 5
54、 01,4 0 0 -1,7 0 04,7 5 0 -5,8 5 0S p o r t s c lu b s,m u lt i p u r p o s e s p o r t s/le is u r e c e n t r e s (d r y s p o r t s)w it h a/c a n d in c lu d in g FF&E2,5 0 0 -3,0 0 01,9 0 0 -2,6 0 06 0 0 -8 5 03 5 0 -4 5 06 5 0 -8 0 06,0 0 0 -7,7 0 0G e n e r a l h o s p it a ls -p u b lic s e
55、c t o r3,3 0 0 -4,0 0 02,5 0 0 -3,1 0 07 0 0 -9 5 04 0 0 -6 0 01,6 0 0 -2,1 0 08,5 0 0 -1 0,7 5 0CONSTRUCTION COST DATA113 CONSTRUCTION COST DATAACMV COSTS FOR VARIOUS DESIGNSAND DEVELOPMENTS IN HONG KONG2,0001,8009008002,6002,1001,5001,20005001,0001,5002,0002,5003,000HK$/m2 of Construction Floor Ar
56、ea3,3001,8002,0008002,1004,0002,0002,6001,5002,50005001,0001,5002,0002,5003,0003,5004,0004,500HK$/m2 of Construction Floor AreaC ONS TRU C TION C OS T D ATA1 4CONSTRUCTION COST DATA11 5 C ONS TRU C TION C OS T D ATAFIT-OUT COSTS FOR HONG KONGBUILDING TYPEHK$/m2HOTELSPublic Areas(Front of House):3-s
57、t a r Ho t e l 1 0,2 0 0 -1 5,5 0 04-s t a r Ho t e l 1 5,5 0 0 -2 1,5 0 05-s t a r Ho t e l 2 1,5 0 0 u pGuest Rooms:3-s t a r Ho t e l 8,7 0 0 -1 0,5 0 04-s t a r Ho t e l 1 0,5 0 0 -1 4,0 0 05-s t a r Ho t e l 1 4,0 0 0 u pNotes:1.Includesfurniture,fl oor,wallandceilingfinishes,drapery,sanitaryfi
58、ttingsandlightfi ttings.2.Excludespartitioning,M&Eworks,buildingshell,chandeliers,operationalitemsandequipment(e.g.cutlery,crockery,linen,television,refrigeratoretc.),openingexpenses,stageequipmentandcomputersystems.OFFICESGeneral offi ce 6,2 0 0 -9,7 0 0Executive offi ce 9,7 0 0 -1 3,5 0 0Prestige
59、offi ce 1 3,5 0 0 u pNotes:1.Local/Taiwanese/PRCfurnitureallowedforgeneraloffices.2.Includesfurniture,partitioning,electricalwork,minoralterationtoair-conditioning,fi reservicesandsuspendedceilingtosuitlayout.3.Excludestelephones,datacabling,offi ceequipment(puters,photocopiers,faxmachines,UPS,etc).
60、Th e a b o v e c o s t s a r e a t 4th Quarter 2019 le v e ls.C ONS TRU C TION C OS T D ATA1 6BUILDING TYPEHK$/m2DEPARTMENT STORESG e n e r a l d e p a r t m e n t s t o r e 7,7 0 0 -1 2,5 0 0P r e s t ig e d e p a r t m e n t s t o r e 1 2,5 0 0 u pNotes:1.Includeselectricalwork,additionalFCUandmin
61、oralterationoffireservicestosuitlayout.2.Excludesfacademodification,datacabling,operationalitemsandequipment(puters,P.O.S.,officeequipment)andopeningexpenses.RESTAURANTSG e n e r a l d in in g r e s t a u r a n t 1 1,5 0 0 -2 0,0 0 0Fin e d in in g r e s t a u r a n t 2 3,0 0 0 u pNotes:1.Includesfu
62、rniture,floor,wallandceilingfinishes,electricalwork,minoralterationtoair-conditioningandfireservicesinstallationtosuitlayout,exhaustforkitchen.2.Excludesexhaustflue,operationalitems(e.g.cutlery,crockery,linen,utensils,etc.).The costs per square meter are based on fit-out area measured to the inner f
63、 a c e o f t h e p e r im e t e r w a ll.CONSTRUCTION COST DATA11 7 C ONS TRU C TION C OS T D ATADESCRIPTIONUNITHK$SQUASH COURTSS i n g l e c o u r t w i t h g l a s s b a c k w a l l i n c l u d i n g a s s o c i a t e d m e c h a n i c a l a n d e l e c t r i c a l s e r v i c e s b u t e x c l u
64、d i n g a n y p u b lic f a c ilit ie s (e n c lo s in g s t r u c t u r e n o t in c lu d e d).p e r c o u r t7 0 0,0 0 0TENNIS COURTSS i n g l e c o u r t o n g r a d e w i t h a c r y l i c s u r f a c in g a n d c o m p le t e w it h c h a in lin k f e n c e.p e r c o u r t1,5 0 0,0 0 0Single co
65、urt on grade with artifi cial turf s u r f a c in g a n d c o m p le t e w it h c h a in lin k f e n c e.p e r c o u r t1,7 0 0,0 0 0Ex t r a f o r lig h t in g.p e r c o u r t6 0 0,0 0 0SWIMMING POOLSHa lf Oly m p ic (2 5 m x 1 0.5 0 m)o u t d o o r s w i m m i n g p o o l b u i l t o n-g r a d e,f
66、 u l l y t ile d;c o m p le t e w it h 5 m w id e d e c k a n d associated pool equipment and ozones y s t e m.p e r p o o l1 0,0 0 0,0 0 0PLAYGROUND EQUIPMENTOutdoor playground equipment c o m p r i s i n g v a r i o u s a c t i v i t i e s.p e r s e t3 0 0,0 0 0t o 8 0 0,0 0 0UNIT COSTS FOR ANCILL
67、ARY FACILITIESFOR HONG KONGTh e a b o v e c o s t s a r e a t 4th Quarter 2019 le v e ls.C ONS TRU C TION C OS T D ATA1 8DESCRIPTIONUNITHK$SAUNASS a u n a r o o m f o r 4-6 p e o p le c o m p le t e w it h a ll a c c e s s o r ie s (e n c lo s in g s t r u c t u r e n o t in c lu d e d).p e r r o o
68、m3 0 0,0 0 0STEAM BATHS S t e a m b a t h f o r 4-6 p e o p le c o m p le t e w it h a ll a c c e s s o r ie s (e n c lo s in g s t r u c t u r e n o t in c lu d e d).p e r r o o m3 0 0,0 0 0GOLF COURSES(B a s e d o n a v e r a g e c o s t o f a n 1 8-h o le g o lf c o u r s e)Ex c l u d i n g a s s
69、 o c i a t e d b u i l d i n g s a n d equipment.p e r h o le8,0 0 0,0 0 0t o 1 4,0 0 0,0 0 0GREEN ROOFP r o p r i e t a r y l i g h t w e i g h t g r e e n r o o f s y s t e m;w it h a u t o m a t ic ir r ig a t io n s y s t e m (roofing and roof structure not included).p e r m 22,0 0 0t o5,0 0 0VE
70、RTICAL GREENV e r t i c a l g r e e n s y s t e m;w i r e f r a m e t y p e,w it h a u t o m a t ic ir r ig a t io n s y s t e m (b a c k g o r u n d s u p p o r t in g w a ll n o t in c lu d e d).p e r m 25,0 0 0t o1 0,0 0 0CONSTRUCTION COST DATA119 CONSTRUCTION COST DATABUILDING TYPEUS$/m2 CFASHAN
71、GHAI+BEIJING+GUANGZHOU/SHENZHEN+CHONGQING/CHENGDU+DOMESTICApartments,high rise,average standard 691-762 609-669546-601 571-679 Apartments,high rise,high end 1,561-1,701 1,474-1,679879-962 923-1,163Terraced houses,average standard 473-504 871-944410-450 465-560Detached houses,high end 689-762 1,674-1
72、,7471,571-1,785 610-700OFFICE/COMMERCIALMedium/high rise offi ces,average standard 878-1,161 851-1,146763-850 905-1,047 High rise offi ces,prestige quality 1,139-1,421 1,146-1,8831,115-1,345 1,143-1,538Out-of-town shopping centre,average standard N/A 649-867735-807 731-935Retail malls,high end 1,208
73、-1,558 1,173-1,6151,068-1,493 1,089-1,523HOTELSBudget hotels-3-star,mid market 970-1,183 960-1,183967-1,064 981-1,210Business hotels-4/5-star 1,563-2,116 1,604-2,1181,563-2,231 1,763-2,200Luxury hotels-5-star 2,113-2,527 2,043-2,6292,125-2,3422,171 -2,600CONSTRUCTION COSTS FOR SELECTEDASIAN CITIESCO
74、NSTRUCTION COSTS FOR SELECTED ASIAN CITIESC ONS TRU C TION C OS T D ATA2 0The above costs are at 4th Quarter 2019 levels,in clu sive of p relimin aries bu t ex clu sive of con tin gen cies.+H ou ses are bu ilt to shell an d core stan d ard ONLY,where all ten an t or occu p an t areas are u n fu rn i
75、shed.Schools(p rimary an d secon d ary)are of p u blic au thority stan d ard,n o a/c an d comp lete with basic ex tern al works.(Con td)INDUSTRIALIn d u s t r ia l u n it s,s h e ll o n ly (C o n v e n t io n a l s in g le s t o r e y f r a m e d u n it s)2 7 3 -3 3 4 2 6 8 -3 2 7 4 8 8 -5 3 7 4 4 6
76、 -5 6 1Ow n e r o p e r a t e d f a c t o r ie s,lo w r is e,lig h t w e ig h t in d u s t r y 4 2 3 -5 2 9 5 1 9 -5 9 4N/AN/AOTHERSU n d e r g r o u n d/b a s e m e n t c a r p a r k s (3 le v e ls)7 2 5 -1,0 1 0 7 4 1 -8 1 5 5 0 4 -8 0 5 4 3 3 -6 0 8Mu lt i s t o r e y c a r p a r k s,a b o v e g
77、r o u n d(4 le v e ls)3 7 1 -5 1 9 4 4 6 -4 5 1 3 6 0 -3 9 7 3 4 5 -4 2 5S c h o o ls (p r im a r y a n d s e c o n d a r y)5 5 4 -6 9 9 5 1 7 -6 6 7 4 0 0 -4 4 0 4 5 8 -5 0 6S t u d e n t s r e s id e n c e s 4 0 6 -5 5 3 3 6 6 -5 1 7N/AN/AS p o r t s c lu b s,m u lt i p u r p o s e s p o r t s/le
78、is u r e c e n t r e s (d r y s p o r t s)9 3 4 -1,1 4 7 8 8 4 -8 9 1N/AN/AG e n e r a l h o s p it a ls -p u b lic s e c t o r 1,4 2 7 -1,8 4 1 1,1 6 2 -1,4 5 5N/AN/AEx c h a n g e Ra t e U s e d :U S$1 =RMB 7.0 0RMB 7.0 0RMB 7.0 0RMB 7.0 0CONSTRUCTION COST DATA12 1 C ONS TRU C TION C OS T D ATABUI
79、LDING TYPEUS$/m2 CFAHONG KONG MACAU SINGAPORE KUALALUMPURDOMESTICAp a r t m e n t s,h ig h r is e,a v e r a g e s t a n d a r d3,0 2 0 -3,4 9 02,2 3 3 -2,7 3 11,3 4 0 -1,4 8 53 0 0 -5 8 5 Ap a r t m e n t s,h ig h r is e,h ig h e n d3,9 1 0 -4,5 5 03,1 1 8 -4,7 6 52,0 6 5 -3,0 4 57 0 0 -1,3 7 5Te r
80、r a c e d h o u s e s,a v e r a g e s t a n d a r d4,1 2 0 -4,7 7 03,8 0 5 -4,5 4 11,7 4 0 -1,9 2 02 1 5 -3 4 5D e t a c h e d h o u s e s,h ig h e n d6,0 4 0 u p4,6 4 1 -6,0 3 82,2 1 0 -2,9 0 07 3 0 -9 9 0OFFICE/COMMERCIALMedium/high rise offi ces,average standard2,9 5 0 -3,4 1 02,5 7 0 -3,3 1 81,7
81、 4 0 -1,9 2 0 5 7 0 -7 5 0 High rise offi ces,prestige quality3,5 5 0 -4,1 2 03,3 1 8 -3,6 3 01,9 5 5 -2,1 0 0 8 5 5 -1,2 6 5Ou t-o f-t o w n s h o p p in g c e n t r e,a v e r a g e s t a n d a r d2,9 4 0 -3,4 5 02,4 2 0 -3,6 3 01,9 5 5 -2,0 3 05 4 0 -7 2 0Re t a il m a lls,h ig h e n d3,8 4 0 -4,5
82、 8 03,8 0 5 -4,5 9 12,0 6 5 -2,2 4 5 6 7 0 -1,0 0 5HOTELSB u d g e t h o t e ls -3-s t a r,m id m a r k e t3,8 0 0 -4,0 4 03,3 8 1 -3,8 3 02,1 7 5 -2,3 5 51,0 0 5 -1,4 0 5B u s in e s s h o t e ls -4/5-s t a r3,9 4 0 -4,5 8 04,5 9 1 -5,4 8 82,7 9 0 -3,1 1 51,3 2 5 -2,1 9 0L u x u r y h o t e ls -5-s
83、 t a r4,5 8 0 -5,2 7 05,4 8 8 -6,4 8 72,7 9 0 -3,1 1 51,9 1 0 -2,4 5 5CONSTRUCTION COSTS FOR SELECTEDASIAN CITIESCONSTRUCTION COSTS FOR SELECTED ASIAN CITIES(Con td)C ONS TRU C TION C OS T D ATA2 2(Con td)R ates are ex clu sive of an y man agemen t con tract fee.The above costs are at 4th Quarter 20
84、19 levels,in clu sive of p relimin aries bu t ex clu sive of con tin gen cies.R ates are n ett of GST.Includesraised?oorandceilingtotenantedareasbutexcludesofficecarpets(normallyundertenantsfit-out).Op en on all sid es with p arap et.6-12unitsper?oor,46m2-83m2perunit,excludeair-conditioning eq u ip
85、men t,kitchen cabin ets an d home ap p lian ces.Terracedhousesexcludeair-conditioning.Officesareaveragestandardandexcludetenantfitout.Schools(p rimary an d secon d ary)are stan d ard govern emen t p rovision s.Stu d en thostels to u n iversity stan d ard.INDUSTRIALIn d u s t r ia l u n it s,s h e ll
86、 o n ly (C o n v e n t io n a l s in g le s t o r e y f r a m e d u n it s)N/A N/A7 6 0 -9 3 03 1 5 -4 3 5Ow n e r o p e r a t e d f a c t o r ie s,lo w r is e,lig h t w e ig h t in d u s t r y 2,2 9 0 -2,8 8 0N/AN/A4 2 5 -5 2 5OTHERSU n d e r g r o u n d/b a s e m e n t c a r p a r k s (3 le v e ls
87、)3,2 0 0 -3,8 4 02,0 0 8 -2,9 4 49 4 0 -1,2 5 53 1 0 -5 3 5Mu lt i s t o r e y c a r p a r k s,a b o v e g r o u n d (4 le v e ls)1,9 2 0 -2,2 8 01,1 1 0 -1,4 6 06 5 0 -9 3 0 2 1 5 -3 4 5S c h o o ls (p r im a r y a n d s e c o n d a r y)2,4 9 0 -2,6 9 0 2,2 2 0 -2,5 7 0N/A2 4 5 -3 1 0 S t u d e n t
88、 s r e s id e n c e s 2,8 6 0 -3,2 5 0 1,7 5 9 -2,0 4 61,5 9 5 -1,7 0 52 9 5 -3 6 5 S p o r t s c lu b s,m u lt i p u r p o s e s p o r t s/le is u r e c e n t r e s (d r y s p o r t s)3,7 5 0 -4,3 2 0N/A 1,9 9 5 -2,1 0 05 8 5 -7 3 5G e n e r a l h o s p it a ls -p u b lic s e c t o r 4,8 0 0 -5,3 5
89、 0N/A 2,7 9 0 -2,9 0 08 4 0 -1,1 6 0Ex c h a n g e Ra t e U s e d :U S$1 =HK$7.8 2MOP 8.0 6S$1.3 8RM 4.1 5Officesofaveragestandardarebuilttothefollowingprovisions:(i)Cu rtain wall/win d ow wall facad e (ii)Tenantareasincludescreeded?oor,paintedwallandceilingSchools(p rimary an d secon d ary)are of p
90、 u blic au thority stan d ard,n o a/c an d comp lete with basic ex tern al works.CONSTRUCTION COST DATA123 CONSTRUCTION COST DATABUILDING TYPEUS$/m2 CFAMANILA INDIA BANGKOKHO CHI MINH&DOMESTICApartments,high rise,average standard 968-1,197570-653801-951650-806Apartments,high rise,high end1,287-2,276
91、860-1,0351,068-1,319827-948Terraced houses,average standard 942-1,153394-414501-618438-514Detached houses,high end1,830-3,103520-544868-1,052500-610OFFICE/COMMERCIALMedium/high rise offi ces,average standard958-1,152430-465801-951760-880High rise offi ces,prestige quality1,287-1,616 538-5701,002-1,2
92、85 877-1,195Out-of-town shopping centre,average standard814-1,014420-455684-885N/ARetail malls,high end1,112-1,558585-632918-968710-930HOTELSBudget hotels-3-star,mid market1,216-1,356808-8951,252-1,3851,410-1,725Business hotels-4/5-star1,371-2,2901,258-1,4911,602-1,836N/ALuxury hotels-5-star1,884-3,
93、1581,590-1,7401,869-2,1701,780-2,137CONSTRUCTION COSTS FOR SELECTEDASIAN CITIESCONSTRUCTION COSTS FOR SELECTED ASIAN CITIES(Contd)C ONS TRU C TION C OS T D ATA2 4The above costs are at 4th Quarter 2019 levels,in clu sive of p relimin aries bu t ex clu sive of con tin gen cies.R ates in clu d e 12%V
94、AT.R ates ex clu d e V AT.?R ates are based on p roj ects in B an galore an d are n ett of GST.Mu mbai costs are gen erally 8%higher.INDUSTRIALIn d u s t r ia l u n it s,s h e ll o n ly (C o n v e n t io n a l s in g le s t o r e y f r a m e d u n it s)5 1 9 -5 8 43 3 6 -3 9 45 3 4 -6 6 83 1 2 -3 9
95、3Ow n e r o p e r a t e d f a c t o r ie s,lo w r is e,lig h t w e ig h t in d u s t r y6 9 7 -8 7 23 5 7 -4 2 0N/A3 5 3 -4 6 5OTHERSU n d e r g r o u n d/b a s e m e n t c a r p a r k s (3 le v e ls)5 0 2 -7 5 02 8 5 -3 0 56 0 1 -8 0 16 4 5 -7 7 0Mu lt i s t o r e y c a r p a r k s,a b o v e g r o
96、u n d(4 le v e ls)4 8 3 -6 8 32 2 7 -2 4 92 0 0 -3 2 74 1 5 -4 5 5S c h o o ls (p r im a r y a n d s e c o n d a r y)7 1 3 -9 8 42 8 2 -3 2 0N/A5 4 5 -5 9 5S t u d e n t s r e s id e n c e s7 5 5 -9 6 83 0 5 -3 3 5N/A5 4 5 -7 0 0S p o r t s c lu b s,m u lt i p u r p o s e s p o r t s/le is u r e c e
97、 n t r e s (d r y s p o r t s)1,2 0 7 -1,7 5 65 9 5 -6 2 0N/A8 0 6 -8 6 2G e n e r a l h o s p it a ls -p u b lic s e c t o r1,4 5 0 -1,6 6 56 5 3 -7 1 5N/AN/AEx c h a n g e Ra t e U s e d :U S$1 =P HP 5 1.0 5INR 7 1.1 1B AHT 2 9.9 6V ND 2 3,3 0 0&R ates are n ett of V AT an d con tigen cies.CONSTRU
98、CTION COST DATA125 CONSTRUCTION COST DATAM&E COSTS FOR SELECTED ASIAN CITIESM&E COSTS FOR SELECTED ASIAN CITIESBUILDING TYPESHANGHAIBEIJINGGUANGZHOU/SHENZHENCHONGQING/CHENGDURMB/m2 CFARMB/m2 CFARMB/m2 CFARMB/m2 CFAMECHANICAL SERVICESOffi ces 814-1,035 775-1,200 775-1,150 750-1,020Industrial*181-304
99、170-280 155-285 145-240Hotels 1,040-1,356 950-1,224 1,080-1,350 960-1,320Shopping Centres 1,102-1,160 806-970 715-910 920-1,040Apartment 330-436 143-459 152-410 155-310ELECTRICAL SERVICESOffi ces 639-721 470-850 540-795 465-680Industrial*320-453 326-459 320-459 270-370Hotels 697-890 719-962 715-980
100、600-855Shopping Centres 556-697 490-690 500-690 525-680Apartment 270-395 258-406 280-500 235-350HYDRAULIC SERVICESOffi ces 115-171 97-143 128-184 88-125Industrial 92-35 97-143 89-124 88-125Hotels 386-613 377-490 390-500 340-465C ONS TRU C TION C OS T D ATA2 6The above costs are at 4th Quarter 2019 l
101、evels,ex clu sive of con tin gen cies.*Gen erally withou t A/C.*Ex clu d es sp ecial p ower su p p ly.(Con td)S h o p p in g C e n t r e s1 4 4 -1 9 41 4 3 -2 0 41 1 4 -1 6 81 0 5 -1 5 5Ap a r t m e n t1 7 6 -2 3 81 7 3 -2 3 41 5 0 -2 8 01 0 5 -1 8 5FIRE SERVICESOffices2 3 9 -3 3 51 8 4 -2 7 02 3 0
102、-3 5 02 4 8 -3 0 0In d u s t r ia l1 6 5 -2 7 61 5 3 -2 3 01 4 3 -2 7 21 3 5 -2 4 0Ho t e ls3 0 3 -4 0 82 2 4 -3 8 32 8 5 -4 2 52 6 0 -3 6 0S h o p p in g C e n t r e s2 7 1 -4 0 32 2 4 -3 8 32 4 8 -3 8 32 6 0 -3 8 0Ap a r t m e n t5 8 -1 0 87 1 -1 3 87 2 -1 5 26 0 -1 1 5LIFTS/ESCALATORSOffices2 9 4
103、 -5 7 82 9 4 -5 7 72 9 5 -5 1 73 1 0 -5 7 0In d u s t r ia l1 4 2 -4 1 01 4 5 -4 0 01 5 0 -4 4 01 5 5 -3 6 0Ho t e ls2 3 0 -5 2 02 3 2 -5 2 02 5 0 -4 8 02 8 8 -4 4 5S h o p p in g C e n t r e s3 4 2 -5 2 03 2 7 -5 2 03 2 5 -4 7 03 0 0 -4 5 5Ap a r t m e n t1 7 3 -3 0 61 7 5 -2 8 91 3 0 -5 0 01 4 5 -
104、2 5 0CONSTRUCTION COST DATA127 CONSTRUCTION COST DATAM&E COSTS FOR SELECTED ASIAN CITIESM&E COSTS FOR SELECTED ASIAN CITIES(Contd)BUILDING TYPEHONG KONGMACAU SINGAPORE KUALALUMPURHK$/m2 CFAMOP/m2 CFAS$/m2 CFARM/m2 CFAMECHANICAL SERVICESOffi ces1,880-2,650N/A153-249320-490Industrial*160-260N/A34-1178
105、5-190Hotels2,100-2,5502,590-2,990215-278300-590Shopping Centres2,100-2,6502,350-2,940147-246300-475Apartment850-2,000 up900-1,20090-170120-210ELECTRICAL SERVICESOffi ces1,720-2,400N/A158-258290-460Industrial*620-860N/A55-136145-190Hotels1,900-2,5002,590-3,090277-367295-550Shopping Centres1,750-2,400
106、2,590-2,940160-304295-460Apartment1,050-2,100up1,000-1,290109-236105-210HYDRAULIC SERVICESOffi ces700-850N/A26-5535-65Industrial480-650N/A18-3640-50Hotels1,800-2,8001,790-2,190122-172175-270C ONS TRU C TION C OS T D ATA2 8*Gen erally withou t A/C.*Ex clu d es sp ecial p ower su p p ly.R ates are n e
107、tt of GST an d ex clu d in g B AS.(Con td)The above costs are at 4th Quarter 2019 levels,ex clu sive of con tin gen cies.S h o p p in g C e n t r e s 7 0 0 -9 0 06 0 0 -7 9 04 6 -8 03 0 -3 5Ap a r t m e n t 1,3 5 0-2,1 0 01,4 9 0 -1,9 9 07 9 -1 4 35 0 -1 0 0FIRE SERVICESOffices 5 5 0-7 0 0N/A3 3 -5
108、66 0 -8 0In d u s t r ia l 4 0 0-5 0 0N/A2 3 -5 14 5 -6 5Ho t e ls 6 0 0-8 5 09 1 0 -1,1 2 02 8 -5 56 5 -9 0S h o p p in g C e n t r e s 5 5 0-7 0 06 1 0 -8 1 03 7 -5 65 5 -8 0Ap a r t m e n t 1 0 0-6 0 02 5 0 -3 0 02 5 -5 11 5 -3 0LIFTS/ESCALATORSOffices 7 0 0-1,1 5 0N/A6 3 -1 6 21 2 5 -3 5 0In d u
109、 s t r ia l 5 5 0-7 5 0N/A4 1 -1 0 45 5 -1 8 0Ho t e ls 5 5 0-8 5 06 1 0 -8 1 04 9 -8 21 0 0 -2 8 5S h o p p in g C e n t r e s 8 5 0-1,0 0 04 6 0 -7 1 05 6 -9 09 5 -1 2 0Ap a r t m e n t 4 5 0-8 5 04 6 0 -6 1 04 1 -1 1 36 5 -1 1 0CONSTRUCTION COST DATA129 CONSTRUCTION COST DATABUILDING TYPE MANILA
110、INDIA BANGKOKHO CHI MINHPHP/m2 CFAINR/m2 CFABAHT/m2 CFAVND/m2 CFAMECHANICAL SERVICESOffi ces 4,000-6,800 4,750-6,730 4,400-4,800 2,090,000-2,975,000Industrial*800-1,600 2,185-3,880 1,550-1,600 N/AHotels 3,500 -11,190 5,815-6,350 4,600-5,200 N/AShopping Centres 2,890-7,070 4,535-5,940 4,600-4,800 N/A
111、Apartment 1,360-4,450 2,590-3,210 4,300-4,500 1,570,000-2,150,000ELECTRICAL SERVICESOffi ces 3,500-7,200 4,200-5,775 3,400-3,800 2,320,000-2,780,000Industrial*2,000-3,500 2,470-4,105 1,950-2,200 N/AHotels 4,900-10,200 4,660-6,355 3,800-4,500 N/AShopping Centres 3,060-6,600 4,005-5,360 2,800-3,200 N/
112、AApartment 3,600-6,300 2,120-2,775 2,800-3,350 2,040,000-2,572,000HYDRAULIC SERVICESOffi ces 1,230-2,200 730-1,120 780-900 340,000-630,000Industrial 800-1,400 505-880 750-790 N/AHotels 2,250-6,820 3,825-5,760 1,400-1,650 N/AM&E COSTS FOR SELECTED ASIAN CITIESM&E COSTS FOR SELECTED ASIAN CITIES(Contd
113、)C ONS TRU C TION C OS T D ATA3 0(Con td)*Gen erally withou t A/C.*Ex clu d es sp ecial p ower su p p ly.Tran sformer,in clu d ed in Electrical Services.The above costs are at 4th Quarter 2019 levels,ex clu sive of con tin gen cies.?R ates are based on p roj ects in B an galore an d are n ett of GST
114、.Mu mbai costs are gen erally 8%higher.S h o p p in g C e n t r e s 1,2 2 0 -1,6 5 0 1,0 9 0 -1,9 7 0 7 9 0 -9 5 0 N/AAp a r t m e n t 2,2 5 0 -4,1 0 0 1,7 2 5 -2,3 8 5 1,2 0 0 -1,4 0 0 6 6 0,0 0 0 -7 7 0,0 0 0FIRE SERVICESOffices 9 8 0 -1,5 6 0 1,1 7 0 -1,5 3 0 7 8 0 -8 5 0 7 2 0,0 0 0 -1,1 8 5,0 0
115、 0In d u s t r ia l 1,0 0 0 -2,5 0 0 5 3 5 -7 3 5 7 3 0 -7 5 0 N/AHo t e ls 1,1 0 0 -2,0 3 0 1,3 6 0 -1,7 4 0 7 8 0 -8 9 0 N/AS h o p p in g C e n t r e s 1,0 9 0 -1,7 3 0 1,1 2 0 -1,2 9 5 7 8 0 -8 2 0 N/AAp a r t m e n t 9 8 0 -1,3 5 0 6 2 5 -7 4 5 7 5 0 -8 5 0 4 9 0,0 0 0 -6 1 5,0 0 0LIFTS/ESCALAT
116、ORSOffices 1,8 0 0 -4,9 3 0 9 7 5 -1,2 4 0 1,1 0 0 -1,4 0 0 6 8 0,0 0 0 -1,3 0 0,0 0 0In d u s t r ia l 0 -5 9 0 6 3 8 -8 1 5 N/A N/AHo t e ls 1,8 0 0 -3,5 0 0 1,4 1 5 -2,0 6 0 1,1 0 0 -1,4 0 0 N/AS h o p p in g C e n t r e s 1,6 0 0 -3,0 1 0 1,6 5 5 -2,1 2 0 3 5 0 -4 5 0 1,3 9 0,0 0 0 -1,9 6 0,0 0
117、0Ap a r t m e n t 8 5 0 -3,4 4 0 8 8 0 -1,1 4 0 6 0 0 -8 0 0 7 7 0,0 0 0 -1,1 2 0,0 0 0?B ased u p on n ett en closed area an d n ett of V AT.CONSTRUCTION COST DATA131 CONSTRUCTION COST DATADESCRIPTIONSHANGHAIBEIJINGGUANGZHOU/SHENZHENCHONGQING/CHENGDUUNITRMBRMBRMBRMB1.Excavating basement 2.00m deepm
118、3303030302.Excavating for footings 1.50m deepm3 30 33 30 303.Remove excavated materials off sitem3 135 100 110 654.Hardcore bed blinded with fi ne materialsm3 190 180 190 1805.Mass concrete grade 15m3 740 595 740 5506.Reinforced concrete grade 30m3 780 615 805 5807.Mild steel rod reinforcementkg 5.6
119、 5.6 6 6.18.High tensile rod reinforcementkg 5.6 5.6 6 6.19.Sawn formwork to soffi ts of suspended slabsm29590906510.Sawn formwork to columns and wallsm2 90 85 85 6011.112.5mm thick brick wallsm2 90 80 80 8012.Kliplok Colorbond 0.64mm profi led steel sheetingm2 N/A N/A N/A N/AMAJOR RATES FOR SELECTE
120、D ASIAN CITIESMAJOR RATES FOR SELECTED ASIAN CITIESC ONS TRU C TION C OS T D ATA3 2(Con td)*R ates for d ou ble glaz ed win d ow.The above costs are at 4th Quarter 2019levelsandarebasedonlumpsumfixedpricecontractratesexclusiveofpreliminariesandcon tin gen cies.13.Aluminium casement windows,single gl
121、azedm2 7 0 0 8 1 5*7 0 0 6 7 0*1 4.S t r u c t u r a l s t e e lw o r k -b e a m s,s t a n c h io n s a n d t h e lik ek g 1 0 1 1 1 2.5 1 1.515.Steelwork-angles,channels,flats and the likek g 8.5 9.5 1 1.5 1 01 6.2 5 m m c e m e n t a n d s a n d (1:3)p a v in gm2 3 5 3 2 3 5 3 01 7.2 0 m m c e m e
122、 n t a n d s a n d (1:4)p la s t e r t o w a llsm2 3 5 3 2 3 0 2 818.Ceramic tiles bedded to floor screed(m e a s u r e d s e p a r a t e ly)m2 1 6 0 1 4 5 1 5 5 1 4 019.12mm fibrous plasterboard ceiling liningm2 1 6 0 1 6 2 1 9 0 1 5 02 0.Tw o c o a ts o f e m u ls io n p a in t to p la s te r e d
123、s u r fa c e sm2 4 0 3 2 3 5 3 5Av e r a g e e x p e c t e d p r e lim in a r ie s%6 -1 2 7 -1 2 7 -1 0 6 -1 2CONSTRUCTION COST DATA133 CONSTRUCTION COST DATADESCRIPTIONHONG KONGMACAUSINGAPOREKUALA LUMPURUNITHK$MOPS$RM1.Excavating basement 2.00m deepm3220 1502015-252.Excavating for footings 1.50m de
124、epm3 200 180 20 15-253.Remove excavated materials off sitem3 300 150 15-20 18-304.Hardcore bed blinded with fi ne materialsm3 950 1,300 50 72-1005.Mass concrete grade 15m3 1,100 1,500 177-187 220-2956.Reinforced concrete grade 30m3 1,200 1,400 117-122 240-3007.Mild steel rod reinforcementkg 9.7 9 1.
125、25-1.35 3.25-3.78.High tensile rod reinforcementkg 9.7 9 1.25-1.35 3.25-3.79.Sawn formwork to soffi ts of suspended slabsm2410280 4036-4610.Sawn formwork to columns and wallsm2 410 280 40 36-4611.112.5mm thick brick wallsm2 400 450 35-40 42-5012.Kliplok Colorbond 0.64mm profi led steel sheetingm2 1,
126、000 N/A 43 70-85MAJOR RATES FOR SELECTED ASIAN CITIESMAJOR RATES FOR SELECTED ASIAN CITIES(Contd)C ONS TRU C TION C OS T D ATA3 4(Con td)?R ates in clu d in g d u mp in g charges.R ates are n ett of GST.R ate for lean con crete blin d in g.The above costs are at 4th Quarter 2019levelsandarebasedonlu
127、mpsumfixedpricecontractratesexclusiveofpreliminariesandcon tin gen cies.13.Aluminium casement windows,single glazedm2 3,8 0 0 4,0 0 0 2 9 0 3 8 0-6 0 01 4.S t r u c t u r a l s t e e lw o r k -b e a m s,s t a n c h io n s a n d t h e lik ek g 3 5 3 5 4 -4.5 6 -915.Steelwork-angles,channels,flats and
128、 the lik ek g 4 2 4 0 4 -4.5 6 -91 6.2 5 m m c e m e n t a n d s a n d (1:3)p a v in gm2 1 5 5 1 2 0 2 1 1 7 -2 61 7.2 0 m m c e m e n t a n d s a n d (1:4)p la s t e r t o w a llsm2 1 6 0 1 5 0 2 2 1 8 -2 618.Ceramic tiles bedded to floor screed(m e a s u r e d s e p a r a t e ly)m2 4 0 0 4 5 0 7 4
129、 5 0 -7 519.12mm fibrous plasterboard ceiling liningm2 5 8 0 6 5 0 3 0 3 5 -4 52 0.Tw o c o a t s o f e m u ls io n p a in t t o p la s t e r e d s u r f a c e sm2 9 0 2 0 0 3.5 -4 3.4 -5.0Av e r a g e e x p e c t e d p r e lim in a r ie s%1 0 -1 5 1 0 1 2 -1 5 6 -1 5CONSTRUCTION COST DATA135 CONSTR
130、UCTION COST DATADESCRIPTIONMANILAINDIABANGKOKHO CHI MINH#UNITPHPINRBAHTVND1.Excavating basement 2.00m deepm3270 197 120-140 92,4002.Excavating for footings 1.50m deepm3538 223 120-140 92,4003.Remove excavated materials off sitem3350 N/A 120-150 84,7004.Hardcore bed blinded with fi ne materialsm31,40
131、0-1,600 4,570 650-750 280,9005.Mass concrete grade 15m34,400 6,180 2,300-2,500 1,696,4006.Reinforced concrete grade 30m34,899 7,735 2,800-3,200 1,912,2917.Mild steel rod reinforcementkg51-55 70 25-28 19,7648.High tensile rod reinforcementkg52-55 71 24-27 19,9089.Sawn formwork to soffi ts of suspende
132、d slabsm2950-1,200 700 450-500 225,75010.Sawn formwork to columns and wallsm21,200 753 450-500 257,25011.112.5mm thick brick wallsm2N/A 1,140 650-750 312,78012.Kliplok Colorbond 0.64mm profi led steel sheetingm21,500 1,765 1,200 401,110-597,600MAJOR RATES FOR SELECTED ASIAN CITIESMAJOR RATES FOR SEL
133、ECTED ASIAN CITIES(Contd)C ONS TRU C TION C OS T D ATA3 6 Rateforaluminiumwithanodizedfinish;6mmthick.The above costs are at 4th Quarter 2019levelsandarebasedonlumpsumfixedpricecontractratesexclusiveofpreliminariesandcon tin gen cies.R ate for 9mm gyp su m board.?All rates above are Su p p ly an d F
134、ix,based on p roj ects in B an galore an d are n ett of GST.Mu mbai costs are gen erally 8%higher.13.Aluminium casement windows,single glazedm2 1 2,5 0 0 6,2 3 0 7,0 0 0 6,3 1 5,0 0 01 4.S t r u c t u r a l s t e e lw o r k -b e a m s,s t a n c h io n s a n d t h e lik ek g 1 8 0 1 2 5 6 0 -7 5 5 2,
135、6 5 015.Steelwork-angles,channels,flats and the lik ek g 1 6 0 1 2 5 6 0 -7 5 5 2,6 5 01 6.2 5 m m c e m e n t a n d s a n d (1:3)p a v in gm2 6 5 0 4 9 3 2 0 0 -2 4 0 9 4,0 0 01 7.2 0 m m c e m e n t a n d s a n d (1:4)p la s t e r t o w a llsm25 0 0 -7 0 0 4 0 5 2 2 0 -2 6 0 1 4 4,0 0 018.Ceramic
136、tiles bedded to floor screed(m e a s u r e d s e p a r a t e ly)m2 1,8 0 0 1,7 6 5 1,2 0 0 6 7 4,1 8 019.12mm fibrous plasterboard ceiling liningm21,4 0 0 -1,6 4 5 1,4 0 0 7 5 0 -8 5 0 2 4 5,7 0 02 0.Tw o c o a t s o f e m u ls io n p a in t t o p la s t e r e d s u r f a c e sm25 0 0 -8 0 0 2 5 0 1
137、 4 0 -1 8 0 8 8,9 0 0Av e r a g e e x p e c t e d p r e lim in a r ie s%1 2 -1 89 -1 31 2 -1 88 -1 2 R ates are n ett of V AT.CONSTRUCTION COST DATA137 CONSTRUCTION COST DATABUILDING TYPEOUTLINE SPECIFICATIONDOMESTICApartments,high rise,average standardApartment units with fi t-out,including air-con
138、ditioning,kitchen cabinets and home appliances,but excluding decorative light fi ttings and loose furnitureApartments,high rise,high endApartment units with good quality fi t-out,including air-conditioning,kitchen cabinets and home appliances,but excluding decorative light fi ttings and loose furnit
139、ureTerraced houses,average standardHouses with fi t-out,including air-conditioning,kitchen cabinets and home appliances,but excluding decorative light fi ttings,loose furniture,garden and parkingDetached houses,high endHouses with good quality fi t-out,including air-conditioning,kitchen cabinets and
140、 home appliances,but excluding decorative light fi ttings,loose furniture,garden and parkingOFFICE/COMMERCIALMedium/high rise offi ces,average standardRC structure,curtain wall,including public area fi t-out,tenant area with raised fl oor/carpet,painted wall and false ceilingHigh rise offi ces,prest
141、ige qualityCONSTRUCTION COST SPECIFICATIONCONSTRUCTION COST SPECIFICATIONC ONS TRU C TION C OS T D ATA3 8(Con td)Ou t-o f-t o w n s h o p p in g c e n t r e,a v e r a g e s t a n d a r dIncluding public area fit-out and M&E,but excluding shop fit-outRe t a il m a lls,h ig h e n dHOTELSB u d g e t h
142、o t e ls -3-s t a r,m id m a r k e t1)In t e r io r d e c o r a t io n2)Furniture(fixed and movable)3)Special light fittings(chandeliers,etc.)4)Operating Supplies and Equipment(OS&E)excluded.B u s in e s s h o t e ls -4/5-s t a rL u x u r y h o t e ls -5-s t a rINDUSTRIALIn d u s t r ia l u n it s,s
143、 h e ll o n ly (C o n v e n t io n a l s in g le s t o r e y f r a m e d u n it s)RC s t r u c t u r e w it h s t e e l r o o f a n d M&E t o m a in d is t r ib u t io n,b u t excluding a/c,h e a t in g a n d lig h t in gOw n e r o p e r a t e d f a c t o r ie s,lo w r is e,lig h t w e ig h t in d u
144、 s t r yRC structure,including small office with simple fit-out and M&E,but excluding a/c a n d h e a t in gCONSTRUCTION COST DATA139 CONSTRUCTION COST DATABUILDING TYPEOUTLINE SPECIFICATIONOTHERSUnderground/basement car parks(3 levels)RC structureMulti storey car parks,above ground(4 levels)RC stru
145、cture,natural ventilaion,no facade enclosureSchools(primary and secondary)Including fi t-out and a/c,but excluding educational equipmentStudents residencesIncluding fi t-out,loose furniture and a/cSports clubs,multi purpose sports/leisure centres(dry sports)Dry sports(no swimming pool)and are for le
146、isure centre type schemes including main sports hall,ancillary sports facilities,changing and showers,restaurant/cafe,bar,etc.Costs include a/c,Furniture,Fittings and Equipment(FF&E).General hospitals-public sectorExcluding medical and operating equipmentCONSTRUCTION COST SPECIFICATIONCONSTRUCTION C
147、OST SPECIFICATION(Contd)C ONS TRU C TION C OS T D ATA4 0Notes:1.Thecostsfortherespectivecategoriesgivenaboveareaveragesbasedonfixedpricecompetitivetenders.Itmustbeu n d erstood that the actu al cost of a bu ild in g will d ep en d u p on the d esign an d man y other factors an d may vary from the fi
148、guresshown.2.The costs p er sq u are metre are based on Con stru ction Floor Areas(CFA)measu red to the ou tsid e face of the ex tern al walls/ex tern al p erimeter in clu d in g lift shafts,stairwells,balcon ies,p lan t rooms,water tan ks an d the like.3.Allbulidingsareassumedtohavenobasements(exce
149、ptotherwisestated)andarebuilton?atground,withnormalsoilandsitecondition.Thecostexcludessiteformationworks,externalworks,landcost,professionalfees,financeandlegalex p en ses.4.The stan d ard for each category of bu ild in g varies from region to region an d d o n ot n ecessary follow that of each oth
150、er.5.All costs are in US$/m2 CFA.Flu ctu ation in ex chan ge rates may lead to chan ges in con stru ction costs ex p ressed in U.S.d ollars.2GENERAL CONSTRUCTION DATA2020 OutlookBuilding Cost Trends in Hong KongMaterial Prices in Hong KongLabour Index in Hong KongLabour Wages in Hong KongEstimating
151、Rules of Thumb and Design NormsConstruction Activity in Hong Kong Construction Value in Hong Kong Hong Kong General Construction InsuranceSpecifi ed Forms for Buildings Ordinance or Regulations for Hong Kong Summary of Building Regulationsfor Hong KongPercentage Site Coverage and Plot Ratiosfor Hong
152、 KongEvolving Regulations for Green Buildingin ChinaProcurement Strategies and Formof ContractsConstruction Workdone ForecastGENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA243 2020 OUTLOOK CHINAIn 2019,Chinas economy saw GDP growth of(+)6.2%,Year-on-Year(YoY)up to Q3 2019.This is the lowest growt
153、h since the statistics of China GDP commenced from 1992.Infl ation was mild,with the composite Consumer Price Index(CPI)increasing gradually by(+)2.5%YoY in the fi rst three quarters of 2019.The Chinese government recorded signifi cant annual reduction of(-)20.2%in land sales in the first three quar
154、ters of 2019.However,the completed construction area and new commencement area increased(+)8.7%and(+)8.6%respectively.This has resulted in a reduction of Chinese developers land stock.The construction market is anticipated to slowdown next year.Developers saw high levels of turnover in the fi rst th
155、ree quarters of 2019,which accumulated in revenue reaching RMB11,149.13 billion,a(+)7.1%increase YoY.However,growth has significantly dropped compared with the(+)13.3%growth of the same time last year.Further to the reduction of the VAT rate in May 2018,the Chinese government announced the second VA
156、T reduction in March 2019,implemented from 1st April 2019.The VAT of construction and real estate reduced from 10%to 9%,and VAT of fabrication,including fabrication of major construction materials,reduced from 16%to 13%.This policy was designed to help the local manufactories benefi t from the relie
157、f of taxation.However,the profi t of the manufactory industry was still reduced(-)2.1%YoY in the fi rst three quarters of 2019,compared with growth of(+)14.7%at the same time of last year.The continuous decline of GDP growth indicated that the impact of insuffi cient demand has been transmitted to t
158、he production side.G ENERAL C ONS TRU C TION D ATA4 4(Con td)In November 2016,Chin as state cou n cil p u blished a p lan to imp rove resou rce recyclin g an d ren ovation in d esign an d con stru ction in the 13th Five-Year P eriod (2016-2020).TheMinistryofHousingandUrban-RuralDevelopmentp u blishe
159、d an action p lan to imp el the d evelop men t of p refabricated con stru ction in March 2017,which stated that the p ercen tage of p refabricated bu ild in g shou ld reach 15%cou n trywid e by 2020.Therefore,the p refabrication%became a comp u lsory d esign criterion from 2019.In stead of the cast-
160、in-p lace rein forced con crete stru ctu re,p recast stru ctu re is wid ely p romoted as on e of the maj or p refabrication p rod u cts.The imp lemen tation of a p recast stru ctu re can red u ce the waste an d imp rove the n oise an d dustcontrolattheconstructionsite.However,theprecastman u factori
161、es are at the begin n in g stage of d evelop men t an d d u e to the limited p rod u ctivity for rein forced con crete stru ctu re bu ild in gs,the stru ctu ral cost rises at 50 300 p er con stru ction area.Inthefirstthreequartersof2019,constructionwagesincreasedby4.2?YoY.UpuntilOctober2019,basiccon
162、structionproductcosts?uctuatedinpricewithrebar(-)15%,steel(-)14%,con crete(+)9%an d cemen t(+)2%,YoY.The su bstan tial d ecrease in rebar an d steel were d u e to exce ss su p p ly.The ten d er p rice record ed an in crease of 3%in 2019.Con stru ction wages are an ticip ated to grow between 3%an d 5
163、%in the comin g year.While the p rices of maj or material will remain stable.We an ticip ate that con stru ction costs will rise by 3%p er an n u m in the n ext two years.GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA245 2020 OUTLOOK HONG KONG2019 was a challenging year for Hong Kongs constructi
164、on industry.After enjoying a decade of busy years,the construction industry was relatively quiet in 2019.Construction output returned to 2016s level based on the gross value of construction works performed during the fi rst three quarters of 2019.With the continuing tension of the China-US trade war
165、 and weakened consumer demand in Hong Kong,the GDP growth rate has recorded a negative growth rate of(-)2.9%Year-on-Year(YOY)based on Q3 2019 which is the fi rst time since Q3 2009.Infl ation was moderate,with the overall Composite Consumer Price Index(CPI)increasing steadily by 3.1%YOY based on Oct
166、ober 2019.Reduced construction activity and delay in funding approval for capital worksThe gross value of construction works performed dropped by 3.0%YOY based on Q3 2019.The decline was due to the reduction in both the public and private sectors spending.The decline was especially signifi cant in t
167、he public sector,which reduced by 8.3%YOY based on Q3 2019.Moreover,Hong Kongs Legislative Council(LegCo)approved funding for major capital works in 2018/19 has decreased by 30%when compared with the previous year.Such trends of decreasing rates of approval funding are expected to continue in 2019/2
168、0,which can be seen in the limited number of approved projects by the LegCo Finance Committee after its resumption of the funding approval process for capital works in October 2019.However,several major civil projects,including the Trunk Road T2,infrastructure works for the Kai Tak Development and t
169、he construction of the desalination plant in Tseung Kwan O,have commenced in late 2019.Funding has also been granted for hospital projects,including Kwai Chung Hospital and Prince of Wales Hospital,as the ten-year Hospital Development Plan progresses.Public housing and land supplyThe completion of p
170、ublic housing production by the Hong Kong Housing Authority and the Hong Kong Housing Society is around 19,000 fl ats in 2019/20,which is slightly below the targeted yearly supply average of 20,140 fl ats as set by the latest Long-Term Housing Strategy Annual Progress Report 2019.That means the numb
171、er of public housing projects would need to be increased G ENERAL C ONS TRU C TION D ATA4 6(Con td)to make u p the shortfall in p rod u ction or to u p lift the p rod u ction target in the comin g years.As men tion ed in the 2019 P olicy Ad d ress,the govern men t haspromisedtoincreaselandsupplybyin
172、vokingtheLandsResumptionOrdinanceandimplementingtheLandSharingPilotScheme.However,adetailedtechnicalstudyandthoroughcon su ltation mu st be u n d ergon e before su ch measu res can be fu lly imp lemen ted to in crease lan d su p p ly in the fu tu re.It is unlikelytheconstructionindustrycanbenefitfro
173、mincreasedlandsu p p ly in 2020.Cost of materials and labourTheTenderPriceIndex(TPI)decreasedby3.6?YOYbasedonQ42019.Steelpricedecreasedby6?YOYbasedonQ32019,while P ortlan d cemen t,con crete blocks an d d iesel fu el in creased by4?YOYbasedonQ32019.Thepriceofsandremainedstableatahighlevel.However,th
174、epriceofreadymixedconcreteremainsstable after the d rop at the en d of last year an d early this year.Con stru ction workers wages are stable overall.Wages of carpenterandsteelbarbendersincreasedby7?and9?YOYresp ectively,based on Q 3 2019,while the d eclin in g tren d of wages of bricklayers can be
175、seen,d rop p in g by 18%sin ce mid-2017.TheCompositeLabourWagesIndexincreasedby2?YOYbasedonQ32019.However,theHongKongConstructionIndustryEmployeesGeneralUnionrecommendedapayfreezeinOctober2019,whichcovered15differenttrades,for12months.Thiswasthefirsttimein12yearsthattheUnionhadmadetherecommen d atio
176、n an d came after the u n emp loymen t rate for bu ild ers grew.Looking forwardLookingforwardto2020,Arcadisexpectsthatthelevelofcon stru ction activities will be relatively low yet stable comp ared with2017and2018.Furthermore,itislikelythattheChina-UStradewarandlocalsocialunrestwillhaveacontinuousef
177、fectonthe local p rop erty market.The p oten tial in crease in lan d su p p ly throughtheLandsResumptionOrdinanceandtheLandSharingPilotSchememayhaveanoticeableimpactonmarketsentiment.However,theimpactofincreasinglandsupplyonconstructioncosts will take at least a few years to become p romin en t.With
178、 all these in min d,it is an ticip ated that con stru ction costs will d rop by 3%in 2020 an d remain stable in 2021.GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA247 2020 OUTLOOK MACAUWith the opening of the Hong Kong-Zhuhai-Macao Bridge in October 2018,the total number of visitor arrivals in M
179、acau rose by 20.6%in the fi rst half of 2019 with year-on-year to 20.29 million as reported by the Macau Government Economic Bureau.While visitor arrivals continued to grow,slowdown in Chinas economic growth means that China visitors spending in Macao,particularly on the gaming activities,has weaken
180、ed.According to University of Macao Release for the second quarter of 2019,the nominal gross gaming revenue was 73.4 billion MOP,dropping by 0.5%year on year and by 3.7%quarter-on quarter.The hotel sector experienced stable development.The number of hotels as at end of June 2019 was 83,providing 38,
181、000 guest rooms.The general hotel occupancy rate in the fi rst half of 2019 was 91.1%,which has increased by 1.1 percentage year-on year.The total number of guests was 6.91 million,representing a rise of 1.5%year-on year.In the fi rst half of 2019,the Gross Domestic Product(GDP)of Macau was amounted
182、 to MOP 214.92 billion and was dropped by 2.5%year-on-year,according to the Macau Government Economic Bureau.The China-US trade war,the depreciation of RMB and the ongoing social movement in Hong Kong also had negative impacts on Macaos economy in 2019.Infl ation remained steady and the Composite Co
183、nsumer Price Index rose by 2.8%year-on-year in the fi rst half of 2019,due to the rise in dinning out expenses and housing rent.Looking into the construction industry,Casinos and hotel resorts still drive the construction market in Macau.The Hotel and Gaming Alteration and Additions(A&A)development
184、on various large-scale Hotel and Casino Resorts played an important role in the 2019 construction market and is expected to grow in the coming years.On the government side,a number of public housing projects G ENERAL C ONS TRU C TION D ATA4 8CONSTRUCTION COST TREND PREDICTIONREGION201920202021Chin a
185、(+)3%(+)3%(+)3%HongKong(-)3.5%(-)3%FlatMacau(-)3%(-)2%(-)1%an d in frastru ctu re tu n n els p roj ects are p rogressin g.The Q in gmao P ort is u n d er con stru ction an d is an ticip ated to be comp leted by 3rd Q u arter 2020.WithreferencetothestatisticaldataprovidedbyDSEC(GovernmentofMacaoSpeci
186、alAdministrativeRegionStatisticsandCensusService),thepriceofconstructionmaterials has in creased by 1.6%year-on-year as of the 3rd Q u arter 2019,while labou r costs have d rop p ed significantlyby10?.Thisismainlyduetofewerlargescale casin o an d hotel resort n ew con stru ction sites.The overall co
187、n stru ction costs in 2019 d rop p ed by arou n d 2.8%.Lookingforwardto2020and2021,thechallengesfacingMacauwillbetheuncertaintyoftheChina-UStradewarandtheongoingsocialmovementinHongKongwhichwillindirectlyaffectvisitorscomingtoMacau.BothofthesefactorsmayhaveasignificantimpacttoMacausecon omy in 2020.
188、Yet there are also several op p ortu n ities ahead,in clu d in g the ren ewal of Macau s gamin g licen se in 2022,which may give rise to more comp etition in the casin o market.Tou rism an d casin o visitation is expected to in crease followin g the op en in g of the Q in gmao P ort an d more op p o
189、rtu n ities for hotels an d commercial d evelop men t are expected in the Guangdong-HongKong-MacauGreaterBayArea.We an ticip ate that the con stru ction costs will d rop by 2%p er an n u m in 2020 an d 1%p er an n u m in 2021,main ly duetotheriskoftheuncertaintyoftheChina-UStradewarandtheongoingsoci
190、almovementinHongKong.GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA249 BUILDING COST TRENDS IN HONG KONGYEARINDEX(Base=100,at Year 1970)Q1Q2Q3Q4 2009 1,245 1,242 1,253 1,273 2010 1,297 1,315 1,342 1,367 2011 1,385 1,425 1,452 1,491 2012 1,511 1,552 1,595 1,632 2013 1,688 1,713 1,747 1,786 2014 1
191、,789 1,808 1,857 1,903 2015 1,946 1,958 1,963 1,984 2016 1,992 1,992 1,993 1,986 2017 1,975 1,968 1,957 1,946 2018 1,920 1,910 1,885 1,86820191,8481,8351,8181,8007009001,1001,3001,5001,7001,9002,100 09 10 11 12 13 14 15 16 17 18 19YearArcadis Tender Price IndexG ENERAL C ONS TRU C TION D ATA5 0(Con
192、td)S o u r c e :A r c h it e c t u r a l S e r v ic e s D e p a r t me n t,H o n g K o n g,S A R R e f e r t o w w w.a r c h s d.g o v.h k f o r f u r t h e r in f o r ma t io n.*UptoQ2onlyYEARINDEX(B ase=100,at Year 1970)Q1Q2Q3Q4 2 0 0 9 1,0 7 4 9 8 3 1,1 1 1 1,1 0 7 2 0 1 0 1,1 3 4 1,1 6 1 1,2 4 9
193、 1,2 6 6 2 0 1 1 1,2 7 3 1,3 2 0 1,3 6 9 1,4 0 8 2 0 1 2 1,4 1 4 1,4 3 8 1,4 6 7 1,4 9 6 2 0 1 3 1,5 1 6 1,5 3 2 1,5 5 9 1,5 9 0 2 0 1 4 1,6 2 1 1,6 4 8 1,6 7 9 1,7 0 3 2 0 1 5 1,7 3 2 1,7 6 1 1,7 7 7 1,7 7 5 2 0 1 6 1,7 7 5 1,7 7 6 1,7 8 3 1,7 8 1 2 0 1 7 1,7 7 9 1,7 7 6 1,7 7 3 1,7 6 8 2 0 1 8 1,7
194、 5 5 1,7 2 7 1,7 0 8 1,6 9 82 0 1 9*1,6 9 51,6 8 65008001,1001,4001,7002,000 09 10 11 12 13 14 15 16 17 18 19YearArchSD Building Works Tender Price IndexGENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA251 BUILDING COST TRENDS IN HONG KONG*1/19 to 8/19 onlySource:Civil Engineering and Development D
195、epartment,Hong Kong,SARRefer to www.cedd.gov.hk/eng/publications/standards-spec-handbooks-cost/index.html for further information.YEARHyD CONST.COST INDEX(Nov.1975 Value=100)2009950201098920111,07520121,12720131,19120141,25620151,28220161,32320171,42920181,5012019*1,4799001,1001,3001,500091011121314
196、1516171819YearHighways Department Construction Cost IndexG ENERAL C ONS TRU C TION D ATA5 2BUILDING COST TRENDS IN HONG KONG*u p to Q 3 on ly#p rovision alS o u r c e :C iv il E n g in e e r in g a n d D e v e lo p m e n t D e p a r t m e n t,H o n g K o n g,S A RR e f e r t o w w w.c e d d.g o v.h
197、k/e n g/p u b l i c a t i o n s/s t a n d a r d s-s p e c-h a n d b o o k s-c o s t/in d e x.h t ml f o r f u r t h e r in f o r ma t io n.YEARCEDD CIVIL ENGINEERING WORKS TENDER PRICE INDEX(2010 Q1=100)Q 1Q 2Q 3Q 42 0 0 91 2 01 0 71 0 71 0 02 0 1 01 0 01 0 51 1 01 1 72 0 1 11 2 91 2 91 1 11 0 42 0
198、1 21 3 21 3 31 3 11 4 82 0 1 31 3 41 3 51 4 01 3 72 0 1 41 4 31 4 21 4 61 5 42 0 1 51 6 11 4 61 4 31 3 32 0 1 61 4 21 3 61 2 21 2 82 0 1 71 2 71 2 91 2 21 2 22 0 1 81 1 81 0 01 1 79 42 0 1 9*9 49 8#9 8#80100120140160180 09 10 11 12 13 14 15 16 17 18 19YearC E D D C i v i l E n g i n eeri n g Wo rk s
199、 T en d er Pri c e I n d exGENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA253 MATERIAL PRICES IN HONG KONGGALVANIZED MILD STEEL ANGLESource:Census and Statistics Department,Hong Kong,SAR Refer to www.censtatd.gov.hk for further information.REBAR051015200910111213141516171819YearHKD(000)/tonne0123
200、456780910111213141516171819YearHKD(000)/tonne Mild Steel Round Bars,6mm-20mm High Tensile Steel Bars,10mm-40mmG ENERAL C ONS TRU C TION D ATA5 4(Con td)SAND ORDINARY PORTLAND CEMENTS o u r ce:C e n sus a n d S t a t i st i cs D e p a r t me n t,H o n g K o n g,S A R R e f e r t o w w w.cen st a t d.
201、g o v.h k f o r f u r t h e r i n f o r ma t i o n.050100150200250300 09 10 11 12 13 14 15 16 17 18 19YearHKD/tonne450500550600650700750 09 10 11 12 13 14 15 16 17 18 19YearHKD/tonneGENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA255 Source:Organization of the Petroleum Exporting Countries(OPEC)Re
202、fer to www.opec.org for further information.Source:International Monetary Fund Refer to www.imf.org for further information.CRUDE OIL COPPER GRADE AMATERIAL PRICES IN HONG KONG0246810120910111213141516171819YearHKD/tonne0204060801001201400910111213141516171819YearUS$/barrel OPEC Basket PriceG ENERAL
203、 C ONS TRU C TION D ATA5 6LABOUR INDEX IN HONG KONGF ig u r e s a b o v e a r e t h e q u a r t e r ly a v e r a g e o f t h e m o n t h ly in d ic e sS o u r c e:C e n s u s a n d S t a t is t ic s D e p a r t me n t,H o n g K o n g,S A R R e f e r t o w w w.c e n s t a t d.g o v.h k f o r f u r t
204、h e r in f o r ma t io n.*1/19 to 6/19 on lyYEARINDEX(Base=100,at April 2003)Q1Q2Q3Q4 2 0 0 9 8 5 8 5 8 5 8 6 2 0 1 0 8 7 8 7 8 8 8 9 2 0 1 1 9 0 9 0 9 1 9 4 2 0 1 2 9 5 9 5 9 6 1 0 2 2 0 1 3 1 0 9 1 1 1 1 1 3 1 1 5 2 0 1 4 1 1 7 1 2 1 1 2 6 1 3 3 2 0 1 5 1 3 8 1 4 1 1 4 3 1 4 5 2 0 1 6 1 4 6 1 5 0
205、1 5 2 1 5 3 2 0 1 7 1 5 4 1 5 71 5 41 5 2 2 0 1 81 4 91 4 81 4 91 4 9 2 0 1 9*1 4 91 4 98090100110120130140150160 09 10 11 12 13 14 15 16 17 18 19*YearIndexGENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA257 LABOUR WAGES IN HONG KONGSTRUCTURALSource:Census and Statistics Department,Hong Kong,SAR R
206、efer to www.censtatd.gov.hk for further information.ARCHITECTURAL-BASIC WORKS4006008001,0001,2001,4001,6000910111213141516171819YearHK$/Day General welder Bricklayer General workers4007001,0001,3001,6001,9002,2002,5000910111213141516171819YearHK$/Day Bar bender and fixer Carpenter(formwork)Concretor
207、G ENERAL C ONS TRU C TION D ATA5 8(Con td)ARCHITECTURAL-DECORATIVE WORKS M&ES o u r ce:C e n sus a n d S t a t i st i cs D e p a r t me n t,H o n g K o n g,S A R R e f e r t o w w w.cen st a t d.g o v.h k f o r f u r t h e r i n f o r ma t i o n.4006008001,0001,2001,4001,600 09 10 11 12 13 14 15 16
208、17 18 19YearHK$/Day P lasterer J oin er P ain ter4006008001,0001,2001,4001,600 09 10 11 12 13 14 15 16 17 18 19YearHK$/Day P lu mber Electrical fitter Mechan ical fitterGENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA259 ESTIMATING RULES OF THUMB AND DESIGN NORMSCFA To GFA RatioBuilding Type CFA:G
209、FAResidential 1.15 to 1.25:1 Offi ce/Commercial 1.15 to 1.25:1Hotel 1.30 to 1.45:1The above ratios do not include any associated car parking area.Functional Area Distribution in 5-Star HotelsFunctional Area%of Total Hotel CFAFront of House 15-20%Guestroom Floors 50-60%Back of House 25-30%Dimensions
210、of Typical Grade A Offi ce SpaceComponent DimensionDistance from curtain wall to core wall 9-13 mPopulation 9 m2 usable fl oor area/personAverage waiting interval for lifts 30-40 secondsDensity of Basic Materials for StructureMaterial DensityConcrete 2,400 kg/m3Cement 1,450 kg/m3Sand 1,600 kg/m3Aggr
211、egate 1,600 kg/m3Steel 7,843 kg/m3Average Loads VolumeLorry(24 ton)10.0 m3Concrete truck(24 ton)5.5 m3Barge 200-1,450 m3HONG KONGG ENERAL C ONS TRU C TION D ATA6 0Av erage Piling Ratio-Bored Piles Building Type m2 CFA/m2 cross section area of pilesR esid en tial 200-330 Office/Commercial200-300Hotel
212、200-330Av erage Piling Ratio-Driv en H-PilesBuilding Type m2 CFA/No.of pilesR esid en tial 60-120 Office/Commercial60-110Hotel60-120Av erage Piling Ratio-Pre-Bored H-PilesBuilding Type m2 CFA/No.of pilesR esid en tial 70-150 Office/Commercial70-140Hotel70-150All p ile ratios are for high-rise bu ild
213、 in gs with n ormal soil con d ition s.Building Structure-Concrete RatioConcrete/?oorarea0.4m3/m2 to 0.5 m3/m2Formwork/?oorarea2.2m2/m2 to 3.0 m2/m2R ein forcemen t 160 kg/m3 to 250 kg/m3Av erage Ex ternal Wall/Floor RatioR esid en tial Ap artmen ts 1.2 m2/m2Office,Hotel0.4m2/m2In d u strial 0.4 m2/
214、m2(Con td)HONG KONG(Con td)GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA261 ESTIMATING RULES OF THUMB AND DESIGN NORMSAverage Internal Wall/Floor RatioResidential Apartments 1.0 m2/m2Offi ce 0.5 m2/m2Hotel 1.5 m2/m2The above ratios are indicative and for reference purposes only.They do not acco
215、unt for buildings with special shapes,confi gurations or particularly small foot prints.Average Lighting LevelBuilding Type LuxResidential 300 Offi ce 500Retail 400Hotel 300School 300-500Average Power DensityBuilding Type VA/m2 CFAResidential 80-100 Offi ce 70Retail 300-400Hotel-Accommodation 30Hote
216、l-F&B Area 550School 50Average Cooling LoadBuilding Type m2 Cooling Area/RTResidential 18-23 Offi ce 14-18Retail 12-14Hotel 23School 23HONG KONG(Contd)G ENERAL C ONS TRU C TION D ATA6 2Dimensions of Parking Spaces MinimumType of Vehicle Length Width Headroom P rivate Cars an d Taxi s 5 m 2.5 m 2.4 m
217、LightGoodsVehicles7m3.5m3.6mMedium/Heavy Good s V ehicle 11 m 3.5 m 4.7 mCon tain er V ehicles 16 m 3.5 m 4.7 mCoaches an d B u ses 12 m 3.5 m 3.8 mLightbuses8m3m3.3mMin imu m head room mean s the clearan ce between the?oorandthelowermostprojectionfromtheceilingin clu d in g an y lightin g u n its,v
218、en tilation d u cts,con d u its or similar.Indicativ e Dimensions for Sports Grounds Length WidthTen n is Cou rt 40 m 20 mSquashCourt10m6.4mB asketball Cou rt 34 m 20 mV olleyball Cou rt 36 m 20 mB ad min ton Cou rt 20 m 10 mIce R in k 61 m 26 mSoccerPitch120m90mThe above d imen sion s are for a sin
219、 gle cou rt with ap p rop riate clearan ce.No sp ectator seatin g or su p p ort area has been allowed.(Con td)HONG KONG(Con td)GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA263 ESTIMATING RULES OF THUMB AND DESIGN NORMSCHINA&HONG KONGBuilding Type China Hong Kong*DOMESTICApartments2.02.0OFFICE/C
220、OMMERCIALOffi ce2.03.0Shopping Arcade3.55.0HOTELSHotel2.02.0INDUSTRIALIndustrial,light duty4.05.0OTHERSCarpark,private cars2.53.0School2.53.0Theatre,Sports Hall,etc.4.05.0Hospital2.02.5Source:Load Code for the Design of Building Structures,GB 50009-2012,Ministry of Housing and Urban-Rural Developmen
221、t,PRC*Code of Practice for Dead and Imposed Loads 2011,Buildings Department,HKSARMinimum Imposed Loads(kPa)for Building DesignG ENERAL C ONS TRU C TION D ATA6 4CHINASeismic Precautionary Intensity ZoningAsstipulatedinPRCNationalStandardGB50011-2010(CodeforSeismicDesignofBuildings)2016,geographicregi
222、onswhichareclassifiedasLevel6oraboveinSeismicPrecautionaryIntensityClassificationshouldincorporateseismic measu res in the d esign of the stru ctu re an d fou n d ation s.GeographicRegionsIntensityLev elGeographicRegionsIntensityLev elB e ijin g7 -8Ho n g K o n g7C h a n g s h a6Ma c a u7C h e n g d
223、 u7 -8Q in g d a o6 -7C h o n g q in g6 -7S h a n g h a i7D a lia n6 -8S h e n y a n g7Fo s h a n7S h e n z h e n6 -7G u a n g z h o u6 -7S u z h o u6 -7Ha ik o u8Tia n jin7 -8Ha n g z h o u6 -7W u h a n6 -7He n g q in7X ia n8Level5Level6Level7Level8Level9Seismic Precautionary Intensity Zoningof Chi
224、naS o u r ce:C h i n a E a r t h q u a ke D a t a C e n t e r (d a t a.e a r t h q u a )GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA265 YEARCOMPLETEDm2CONSENT TO COMMENCEm2#20091,489,0001,456,000 20101,978,0001,518,000 20111,650,0001,232,000 20122,507,0002,343,000 20131,472,0001,437,000 20141,
225、908,0001,679,000 20151,897,0002,445,000 20162,134,0001,597,00020172,379,0001,900,000 20182,600,0001,414,0002019*1,563,0001,653,000CONSTRUCTION ACTIVITY IN HONG KONG*1/19 to 9/19 only#First Submission onlySource:Census and Statistics Department,Hong Kong,SAR Buildings Department,Hong Kong,SARRefer to
226、 www.censtatd.gov.hk and www.bd.gov.hk for further information.00.511.522.530910111213141516171819Gross Floor Area(Million m2)Completed Consent to CommenceG ENERAL C ONS TRU C TION D ATA6 6CONSTRUCTION VALUE IN HONG KONG*UptoQ2figuresandareprovisionalonlyS o u r ce:C e n sus a n d S t a t i st i cs
227、D e p a r t me n t,H o n g K o n g,S A R R e f e r t o w w w.cen st a t d.g o v.h k f o r f u r t h e r i n f o r ma t i o n.YEARVALUE IN NOMINAL TERMSHK$MILLIONSVALUE IN CONSTANT(2000)MARKET PRICEHK$MILLIONS 2 0 0 9 1 0 0,9 4 4 9 3,6 8 3 2 0 1 0 1 1 1,2 7 4 1 0 0,2 7 8 2 0 1 1 1 2 8,5 3 5 1 0 8,2 6
228、 3 2 0 1 2 1 6 1,4 4 9 1 2 6,4 1 4 2 0 1 3 1 7 6,5 7 5 1 2 9,8 6 8 2 0 1 4 1 9 9,7 3 7 1 3 8,2 8 5 2 0 1 5 2 2 3,9 4 7 1 4 6,9 7 8 2 0 1 6 2 3 6,4 9 1 1 4 9,9 7 32 0 1 72 4 9,9 1 91 4 8,9 4 32 0 1 82 5 2,1 7 61 4 3,1 3 62 0 1 9*1 1 2,9 8 76 3,0 2 5040801201602002402800910111213141516171819Gross Valu
229、e of Construction Work Performed(HK$Millions)Actu al Discou n tedGENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA267 HONG KONG GENERAL CONSTRUCTION INSURANCEThis section provides general information regarding construction insurance arrangements in Hong Kong.It is common place for Hong Kong constru
230、ction contracts to contain provisions as to insurances such as Employees Compensation Insurance,Third Party Liability Insurance,Works Insurance and,on occasion,Professional Liability Indemnity Insurance.For employers,the insurance placement ensures that the contractual indemnities are backed by a fi
231、 nancial institution that can aff ord to pay.For contractors,it provides a certain degree of protection to ensure that he has the means to pay in the event of mishaps.The insurances may be effected by the contractor(Contractor Controlled Insurance Programme or CCIP)or be taken out by the employer(Em
232、ployer Controlled Insurance Programme or ECIP).CCIP tends to be the most common insurance arrangement in Hong Kong,since the contractor is in control of all site operations and in a better position to manage its own site safety/risk.As a poor safety record will count against the contractor in premiu
233、ms negotiation in the procurement of insurance,CCIP provides an incentive for better safety/risk management.On the other hand,ECIP placement leaves the control of the insurance programme in the hands of the employer,thereby off ering the advantage of providing comprehensive insurance coverage on a p
234、roject-wide basis and hence minimizing overlaps and gaps in insurance coverage.Employees CompensationSection 40(1)of the Employees Compensation Ordinance states that no employer shall employ any employee unless there is a policy of Employees Compensation Insurance in place.The maximum penalty for fa
235、iling to comply with this provision is two years in jail and a maximum fi ne of HK$100,000.G ENERAL C ONS TRU C TION D ATA6 8UndertheOrdinance,theprincipalcontractorshalltakeou t in su ran ce for his emp loyees an d all of the emp loyees ofsubcontractorswithalimitofindemnityofHK$200millionperevent(o
236、rHK$100millionifthenumberofemp loyees is less than 200).Sinceaninjuredworkercouldattempttosuetheemp loyer,the emp loyer will wan t to en su re the con tractor has taken ou t in su ran ce in j oin t n ames with the emp loyer.Contractors All Risks InsuranceA Con tractors All R isks p olicy gen erally
237、comp rises(i)Third P arty In su ran ce which covers in j u ry to p erson s(exce p t the Con tractors own workmen)or d amage to p rop erty(other than the Works),d u e to the carryin g ou t of the Works which may or may n ot be cau sed by a d efau lt of the con tractor.The p olicy is n ormally su bj e
238、ct to a maxi mu m reimbu rsemen t p er in cid en t bu t u n limited in the n u mber of in cid en ts,(ii)Con tract Works In su ran ce which covers d amage cau sed to the Works itself by risks n ot excl u d ed fromthepolicyand(iii)Plant&EquipmentInsurancewhichcoversthecontractorsplantandequipmentusedi
239、ntheWorks.Plant&EquipmentInsuranceisnotnormallyrequiredunderthecontractconditionsandisvoluntarilyp u rchased by the con tractor.Professional Indemnity InsuranceFor con stru ction con tracts in volvin g con tractors d esign,it isnotuncommonfortheemployertorequirethecontractoran d his d esign con su l
240、tan ts an d in d ep en d en t checkin g en gin eers to obtain in su ran ce to cover their liability for d esign.For Govern men t Con tracts,the P rofession al In d emn ity In su ran ce shall cover the con tractors liability for d esign gen erally for the con stru ction p eriod an d a fu rther 6 year
241、s.GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA269 FORM NO.PURPOSERELEVANT SECTION OF REGULATION BA1Application for inclusion in the authorized persons register/structural engineers register/geotechnical engineers register/inspectors register.BOs 3(6)BA1AApplication for retention of name in the
242、 authorized persons register/structural engineers register/geotechnical engineers register/inspectors register.BOs 3(9B)BA1BApplication for restoration of name to the authorized persons register/structural engineers register/geo-technical engineers register/inspectors register.BOs 3(12)BA2Applicatio
243、n for registration as a general building contractor/specialist contractor.BOs 8B BA2AApplication for renewal of registration as a registered general building contractor/registered specialist contractor.BOs 8C(2)BA2BApplication for restoration of name to the register of general building contractors/s
244、pecialist contractors.BOs 8D(2)BA2CApplication for approval of technical director/other offi cer/person appointed to act for the purposes of the Buildings Ordinance for a registered general building contractor/registered specialist contractor.BOs 8B BA4Notice of appointment of authorized person and/
245、or registered structural engineer and/or registered geotech-nical engineer.BOs 4,B(A)R 23 BA5Application for approval of plans of building works and/or street works and certifi cate of preparation of plans.BOs 14(1)(a),B(A)R 29&18A SPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONSSPECIFIED FORM
246、S FOR BUILDINGS ORDINANCE OR REGULATIONS FOR HONG KONGG ENERAL C ONS TRU C TION D ATA7 0S o u r c e :B u i l d i n g s D e p a r t me n t,H o n g K o n g,S A R.R e f e r t o w w w.b d.g o v.h k f o r f u r t h e r i n f o r ma t i o n.(Con td)B A6Stabilitycertificateofauthorizedpersonand/orregistere
247、dstructuralengineer.B(A)R 18 B A7Noticeofurgentworksrequiredasaresultofaccidentoremergency.BOs19,B(A)R28 B A8Ap p lication for con sen t to the commen cemen t an d carryin g ou t of bu ild in g works or street works.BOs14(1)(b),B(A)R31 B A8AAp p lication for con cu rren t con sen t to the commen cem
248、en t of bu ild in g works.BOs14(1)(b),B(A)R31 B A9Ap p lication for ren ewal of con sen t to the carryin g ou t of bu ild in g works or street works.BOs20 B A10Notice of ap p oin tmen t of registered con tractor,n otice of commen cemen t of bu ild in g works or street works an d u n d ertakin g by r
249、egistered con tractor.B(A)R20,BOs9 B A11Notice from a registered con tractor on ceasin g to be ap p oin ted in resp ect of bu ild in g works or street works an d certificateinrespectofthatpartofthebuildingworksorstreetworkscarriedoutbytheregisteredcontractor.B(A)R 24 B A12Certificateoncompletionofbu
250、ildingworksresultinginanewtemporarybuilding,anewbuildingorpartofan ew bu ild in g an d ap p lication for temp orary occu p ation p ermit in resp ect of su ch bu ild in g or p art.B(A)R25,BOs21 B A13Certificateoncompletionofbuildingworksresultinginanewbuildingandappplicationforpermittooccupysu ch bu
251、ild in g.B(A)R25,BOs21 B A14Certificateoncompletionofbuildingworksnotresultinginanewbuildingorofstreetworks.B(A)R25&26 B A14ACertificateoncompletionofdemolitionworks.B(A)R 25GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA271 FORM NO.PURPOSERELEVANT SECTION OF REGULATION BA15Notice of intended mat
252、erial change in the use of a building.BOs 25,B(A)R 47 BA16Application for modifi cation of and/or exemption from the provisions of the Buildings Ordinance and/or Reg-ulations made thereunder.BOs 42 BA17Application for permit to erect a temporary building.B(P)R 51 BA18Application for permit to erect
253、a contractors shed.B(P)R 53 BA19Application for permit to erect hoardings,covered walkways or gantries.B(P)R 64 BA20Notice of technically competent person or persons appointed to supervise demolition works.B(DW)R 8 BA21Notice of nomination by authorized person or registered structural engineer or re
254、gistered geotechnical engineer to temporary act in his stead.BOs 4(2),B(A)R 23(2)BA22Application for authorization to carry out and/or maintain groundwater drainage works.BOs 28B(1)BA23Application for grant/renewal of licence for an oil storage installation.B(OSI)R 6(1)&7(3)BA24Notifi cation of chan
255、ge of business address/Contact Information.B(A)R 45SPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONSSPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONS FOR HONG KONGG ENERAL C ONS TRU C TION D ATA7 2S o u r c e :B u i l d i n g s D e p a r t me n t,H o n g K o n g,S A R.R e f e r t o w w w.b
256、 d.g o v.h k f o r f u r t h e r i n f o r ma t i o n.B A25Ap p lication for registration as a registered min or works con tractor(comp an y).B(MW)R 10(1)(B)B A25AAp p lication for ren ewal of registration of registered min or works con tractor(comp an y).B(MW)R 14(1)B A25BAp p lication for restorat
257、ion of n ame to the register of min or works con tractors(comp an y).B(MW)R 18(1)B A25CAp p lication for registration of ad d ition al class an d /or typ e of min or works for registered min or works con tractor(comp an y).B(MW)R 21(2)B A25DApplicationforapprovalofnominationofadditionalauthorizedsig
258、natory/technicaldirectorofregisteredminorwork con tractor(comp an y).B(MW)R 24(1)B A25EAp p lication for review of d ecision of the B u ild in g Au thority or recommen d ation of the Min or Works Con tractors R egistration Committee in resp ect of registration of min or works con tractor(comp an y).
259、B(MW)R 26 B A26Ap p lication for registration as a registered min or works con tractors(in d ivid u al).B(MW)R 10(1)(A)B A26AAp p lication for ren ewal of registration of registered min or works con tractor(in d ivid u al).B(MW)R 14(1)B A26BAp p lication for restoration of n ame to the register of m
260、in or works con tractor(in d ivid u al).B(MW)R 18(1)B A26CAp p lication for registration of ad d ition al items of Class III min or works for a registered min or works con tractor(in d ivid u al).B(MW)R 21(1)B A26DAp p lication for review of d ecision of the B u ild in g Au thority or recommen d ati
261、on of the Min or Works Con tractors R egistration Committee in resp ect of registration of min or works con tractor(in d ivid u al).B(MW)R 26GENERAL CONSTRUCTION DATAG ENERAL C ONS TRU C TION D ATA27 3 S o u r c e:B u i l d i n g s O r d i n a n c e,H o n g K o n g,S A R R e f e r t ow w w.l e g i s
262、 l a t i o n.g o v.h k f o r f u r t h e r i n f o r ma t i o n.SUMMARY OF BUILDING REGULATIONS FOR HONG KONGDESCRIPTIONNUMBER OFREGULATIONSAd min istration 48Ap p eal 13Con stru ction 93Demolition Works 14EnergyEffi ciency 5Min or Works 67Min or Works(Fees)20In sp ection an d R ep air 35OilStorageI
263、nstallations 15P lan n in g 74PrivateStreetandAccessR oad s 28RefuseStorageandMaterialR ecovery Chambers an d R efu se Chu tes 30StandardsofSanitaryFitments,P lu mbin g,Drain age Works an d Latrines 97VentilatingSystems 8G ENERAL C ONS TRU C TION D ATA7 4(Con td)S o u r c e:B u i l d i n g s O r d i
264、 n a n c e,H o n g K o n g,S A R R e f e r t o w w w.l e g i s l a t i o n.g o v.h k f o r f u r t h e r i n f o r ma t i o n.PERCENTAGE SITE COVERAGE AND PLOT RATIOS FOR HONG KONG OPEN SPACE ABOUT DOMESTIC BUILDINGSItemClass of siteOpen space req uired1.Class A site Not less than on e-half of the r
265、oofed-over area of the bu ild in g2.Class B siteNot less than on e-third of the roofed-over area of the bu ild in g3.Class C siteNotlessthanone-quarterof the roofed-over area of the bu ild in gDEFINITIONClassASite:Not bein g a class B or class C site,that abu ts ononespecifiedstreetnotlessthan4.5m w
266、id e or on more than on e su ch street.ClassBSite:A corner site that abuts on 2 specified streets n either of which is less than 4.5 m wid e.ClassCSite:Acornersitethatabutson3specifiedstreets n on e of which is less than 4.5 m wid e.GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA275 Height ofBuil
267、dingin metresDOMESTIC BUILDINGSPercentage site coveragePlot RatioClassAsiteClassBsiteClassCsiteClassAsiteClassBsiteClassCsite Not over 15 m66.675803.33.754.0 15 m to 18 m6067723.64.04.3 18 m to 21 m5662673.94.34.7 21 m to 24 m5258634.24.65.0 24 m to 27 m4955594.44.95.3 27 m to 30 m4652554.65.25.5 30
268、 m to 36 m4247.5505.05.76.0 36 m to 43 m3944475.46.16.5 43 m to 49 m3741445.96.57.0 49 m to 55 m3539426.37.07.5 55 m to 61 m3438416.87.68.0 Over 61 m33.3337.5408.09.010.0PERCENTAGE SITE COVERAGE AND PLOT RATIOS FOR HONG KONGSource:Buildings Ordinance,Hong Kong,SARRefer to www.legislation.gov.hk for
269、further information.G ENERAL C ONS TRU C TION D ATA7 6NON-DOMESTIC BUILDINGSPercentage sitecov eragePlot RatioClassAsiteClassBsiteClassCsiteClassAsiteClassBsiteClassCsite1 0 01 0 01 0 05559 7.59 7.59 7.55.85.85.89 59 59 56.76.76.79 29 29 27.47.47.48 99 09 08.08.18.18 58 78 88.58.78.88 08 2.58 59.59.
270、91 0.27 57 7.58 01 0.51 0.81 1.26 97 2.57 51 1.01 1.61 2.06 46 7.57 01 1.51 2.11 2.66 06 2.56 51 2.21 2.51 3.06 06 2.56 51 51 51 5GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA277 Green Building Certifi cationsThe leading and nationally recognized environmental assessment tool for buildings in C
271、hina is the Green Building Evaluation Standard(GB-T50378-2019)published by the Ministry of Housing and Urban-Rural Development(MOHURD).The Green Building Evaluation Standard applies to all types of civil buildings,including residential buildings,commercial buildings,governmental offi ces and other p
272、ublic facilities.The Green Building Evaluation Standard rates applicable buildings under a three star system certifi ed by the Green Building Label based on several environmental factors such as indoor air quality and energy and water effi ciency.But it should be noted that the 2019 version of the G
273、reen Building Evaluation Standard added a basic grade below the one star grade,making it more diffi cult to receive a star rating.China also adopted other evaluation standards for other building types,such as green industrial buildings and green hospital.The Green Building Evaluation Standard is gen
274、erally not mandatory for new or refurbished buildings.Nevertheless,under the Green Building Work Plan in 2013,certain government-invested buildings,aff ordable housing in some big cities and public buildings over 20,000 square meters must fully adopt the Green Building Evaluation Standard.Besides,th
275、ere may be local rules requiring certain types of buildings to comply with the Green Building Evaluation Standard.For example,in Beijing and Shanghai(except Chongming District),all new buildings EVOLVING REGULATIONS FOR GREENBUILDINGS IN CHINAProvided by:Mr.Rico ChanPartner,Baker McKenzie+852 2846 G
276、 ENERAL C ONS TRU C TION D ATA7 8(Con td)arerequiredtomeettheone-starrequirementsexceptthatall n ew large-scale p u blic bu ild in gs(i.e.p u blic bu ild in gs withover20,000squaremetersof?oorarea)arerequiredtomeetthetwo-starrequirements.TheChongmingDistrictofShanghaiimposeshigherstandards,whichrequ
277、irethat,witheffectfromMay1,2019,allnewpublicbuildingsmustmeetthetwo-starrequirementsexceptthatallnewlarge-scale p u blic bu ild in gs mu st meet the three-star requirements).ChongmingDistrictalsorequiresthatatleast 70%of the n ew resid en tial bu ild in gs mu st meet thetwo-starrequirements.Further,
278、Chinesedevelopersare en cou raged to ad op t the Green B u ild in g Evalu ation Standardforresidentialandcommercialprojectsbecausethere are certain sp ecial govern men t fu n d s or other financialawardsspecificallydesignedforenvironmentp rotection p u rp oses.?Chin a has established a n ation wid e
279、 en ergy p erforman ce evaluationandlabellingsystemtheCivilBuildingEnergyPerformanceEvaluationandLabellingschemethrou gh the In terim Measu res for the Ad min istration of EnergyPerformanceEvaluationandLabellingofCivilB u ild in gs 2008(“In terim Measu res 2008”).The evalu ation an d labellin g are
280、con d u cted in two stages for a sin gle bu ild in g:First stage is a theoretical p red iction of the bu ild in gs en ergy p erforman ce.The secon d stage is the actu al evalu ation of a bu ild in gs actu al en ergy u se after it has been p u t to u se.If the bu ild in gs en ergy p erforman ce P rov
281、id ed by:Mr.Rico Chan Partner,BakerMcKenzie+852 2846 GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA279 Buildings and Energy Effi ciency(Contd)satisfi es the requirements of the scheme,a certifi cate is issued to the building owner for each of the two stages.But it should be noted that,though the
282、 nationwide energy performance evaluation and labelling system has been established through the Interim Measures 2008,China only launched a pilot of such scheme for certain provinces and cities in respect of a limited scope of projects.For example,office buildings of government authorities or large-
283、scale public buildings that are conducting comprehensive energy conservation improvements and have applied for government support are required to go through the evaluation and labelling procedures.Nonetheless,more and more cities that are not part of the pilot program have been voluntarily participa
284、ting in the scheme.Some provinces and municipalities have introduced their own implementation rules of the Civil Building Energy Performance Evaluation and Labelling scheme.Other than the Civil Building Energy Performance Evaluation and Labelling scheme,China has also adopted various policies addres
285、sing the reduction of energy consumption and carbon emission of buildings.The 13th Five-Year Plan published in March 2016 acknowledged the importance of the various environmental issues.EVOLVING REGULATIONS FOR GREENBUILDINGS IN CHINAProvided by:Mr.Rico ChanPartner,Baker McKenzie+852 2846 G ENERAL C
286、 ONS TRU C TION D ATA8 0Followin g the 13th Five-Year Ecological En viron men t P rotection P lan p u blished in November 2016,we have seen the in trod u ction of n ew p olicies en cou ragin g the u se an d p erfectin g an d en largin g the en forcemen t scop e oftheGreenBuildingEvaluationStandardde
287、scribedabove,fu rther imp lemen tin g the 2013 Green B u ild in g Work P lan so that 50%of the n ewly bu ilt bu ild in gs in theBeijing,TianjinandHebeiareaaregreenbuildings.The13thFive-YearBuildingEnergy-SavingandGreenB u ild in g Develop men t P lan,p u blished in Febru ary 2017,sets targets su ch
288、as over 50%of the n ew bu ild in gs in u rban areas shall be green bu ild in gs,at least 500 million squaremetersofresidentialbuildingsshallberenovatedfor en ergy savin g.More recen tly at the 19th Nation al CongressoftheCommunistPartyofChinaheldinOctober2017,fu rther emp hasis has been p u t on the
289、 cou n trys agen d a on en viron men tal p rotection an d the n eed to p u sh for“green d evelop men t”an d “market-orien ted green techn ologies in n ovation”.P rovid ed by:Mr.Rico Chan Partner,BakerMcKenzie+852 2846 GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA281 Government Regulatory Measur
290、esAs compared to some other countries,at the moment investors and developers in China may not yet be fully motivated by the environmental and social benefi ts of green buildings.The Chinese central government currently uses planning and zoning regulations and polices to further control and regulate
291、the development of green buildings.For example,under the 2013 Green Building Work Plan,green initiatives,such as the use of renewable energies,must be included in the urban planning by local authorities.It also requires local authorities to strengthen the review and examination of a buildings design
292、 and construction plan to ensure that the building is in compliance with the energy conservation standards.A number of major cities have also published local regulations administering and promoting development of green buildings.For example,apart from the requirements of Beijing and Shanghai that al
293、l new buildings must meet the one-star requirements while all new large-scale public buildings must meet the two-star requirements mentioned above,under the Measures for Promoting Green Buildings in Shenzhen published in February 2017,newly-built civil buildings in Shenzhen are required to reach at
294、least one-star certifi cation under the Green Building Evaluation Standard or the bronze certifi cation under local evaluation standard.Per the 13th Five-Year Plan for the Development of Building Energy Effi ciency and Green Buildings issued by Provided by:Mr.Rico ChanPartner,Baker McKenzie+852 2846
295、 EVOLVING REGULATIONS FOR GREENBUILDINGS IN CHINAG ENERAL C ONS TRU C TION D ATA8 2theMOHURDinFebruary2017,theChinesegovernmentis aimin g for all n ew bu ild in gs in (1)all cities/town s in eastern Chin a,(2)all p rovin cial cap ital cities an d maj or cities in cen tral Chin a,an d (3)all p rovin
296、cial cap ital cities inwesternChina,toachievetheminimumrequirementsundertheGreenBuildingEvaluationStandard.In ad d ition to the above,the P R C En viron men tal ProtectionTaxLawwhichcameintoforceonJanuary1,2018 imp oses en viron men tal p rotection tax es on bu ild in g own ers for carbon emission a
297、n d waste d isp osal in to the en viron men t.Man y bu ild in g own ers have been requiredtopayssuchtax.Withtheimplementationoftheen viron men tal p rotection tax es,the real estate d evelop ers are more keen to d evelop green bu ild in gs in the fu tu re.P rovid ed by:Mr.Rico Chan Partner,BakerMcKe
298、nzie+852 2846 GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA283 PROCUREMENT STRATEGIES AND FORM OF CONTRACTSGeneralA host of contract procurement approaches have emerged in the past decade.Each procurement approach has characteristics,benefi ts and restrictions peculiar to it.There is no single
299、approach that fi ts all situations.The key to a successful procurement arrangement lies in marrying the right procurement approach with the particular contract in question.This calls for a systematic identifi cation of clients requirements and evaluation of the decision criteria relating to the proc
300、urement strategy.Common criteria for procurement selectionSpeed Fast-tracking projects generally favor arrangements that offer opportunities to overlap the design and construction processes e.g.design&build contracting and management contracting.Cost certainty Reliability of budgets is one of the pr
301、ime concerns of most clients.Traditional lump sum bills of quantities and design&build contracting off er the highest degree of price certainty.Complexity Projects which are technologically advanced or highly serviced generally favor the use of traditional contracting where the design will be well d
302、eveloped prior to the tendering stage.Procurement arrangements such as construction management and management contracting that allow early involvement of management contractor are also considered suitable for complex projects.Responsibility For projects using traditional contracting,the contractor i
303、s employed to build what the clients design team has documented.Therefore,any dispute as to quality of works has to be resolved into a design or workmanship issue in the very fi rst place.By contrast,design&build contracts off er the clearest division of responsibility where the design&build contrac
304、tor will be the sole point of responsibility.G ENERAL C ONS TRU C TION D ATA8 4Common standard form of contract in Hong KongIn2005,theHongKongInstituteofArchitects,theHongKongInstituteofConstructionManagersandtheHongKongInstituteofSurveyorsjointlypublishedanewstan d ard form of bu ild in g con tract
305、 which is d esign ed particularlyforprivateprojectswherebillsofquantitiesare p rovid ed.In 2006,the three in stitu tes p u blished an other stan d ard form of bu ild in g con tract tailored for p rivate p roj ects withoutbillsofquantities.For p u blic works,the con d ition s of con tracts are often
306、based on on e of the followin g stan d ard forms:-T h e G o ver n me n t o f t h e H K S A R,G e n e r a l C o n d i t i o n s o f C o n t r a ct f o r B u i l d i n g Wo r ks 1 9 9 9 E d i t i o nT h e G o ver n me n t o f t h e H K S A R,G e n e r a l C o n d i t i o n s o f C o n t r a ct f o r C
307、 i vi l E n g i n e e r i n g Wo r ks 1 9 9 9 E d i t i o nT h e G o ver n me n t o f t h e H K S A R,G e n e r a l C o n d i t i o n s o f C o n t r a c t f o r E l e c t r i c a l a n d Me c h a n i c a l E n g i n e e r i n g Wo r k s 1 9 9 9 E d i t i o nT h e G o ver n me n t o f t h e H K S A
308、R,G e n e r a l C o n d i t i o n s o f D e si g n a n d B u i l d C o n t r a ct s 1 9 9 9 E d i t i o nNew Engineering Contract(NEC)NEC is the abbreviation for“New En gin eerin g Con tract”which is a su ite of con tracts p u blished by the In stitu te of Civil EngineersintheUnitedKingdom.TheNEChas
309、becomeincreasinglypopularinthepublicsectorofHongKong.(Con td)GENERAL CONSTRUCTION DATAGENERAL CONSTRUCTION DATA285 New Engineering Contract(NEC)(Contd)The Hong Kong Government has announced to use New Engineering Contract(NEC)-Engineering and Construction Contract(ECC)for all public work projects un
310、der Development Bureau with contract sum more than HK$300M from January 2018.The NEC family covers not only construction contracts between employers and contractors but also professional services for employers to engage consultants and adjudicators.ECC of the NEC family of contracts contains standar
311、d options that cover lump sum contracts,target cost contracts,cost reimbursable contracts and management contracts.The ECC contract claims to be radically different to traditional construction contracts in that it facilitates good management and encourages collaborative working.For instance,both the
312、 Project Manager and the Contractor are obliged to give early warnings and to hold early warning meetings to mitigate the eff ects of change in contract scope.Great emphasis is also given to the programme which has to be accepted by the Project Manager and to be kept updated by the Contractor.The Pr
313、oject Manager is to maintain a Risk Register to record risks that have arisen during the contract and the decisions of how to deal with them.Arcadis was the NEC Advisor for Fuk Man Road Nullah Improvement Works the very fi rst NEC pilot project in Hong Kong.Our work with the project team for that pi
314、lot project reveals that it is not only the letter or the form of the NEC that brings about the advantages of fl exibility and promotion of good project management.The success lies in a change in mindset and attitudes and the establishment of mutual trust.PROCUREMENT STRATEGIES AND FORM OF CONTRACTS
315、G ENERAL C ONS TRU C TION D ATA8 6Procurement Strategy TablePROJECT CRITERIARELATIVE DEGREE OF APPROPRIATENESSParameterObjectiv esTraditionalManagementContractingConstructionManagementDesign andConstructTim in gEa r ly C o m p le t io nL o wHig hHig hHig hC o s tP r e c o n s t r u c t io n p r ic e
316、 c e r t a in t yHig hL o wL o wHig hQ u a lit yD e s ig n p r e s t ig eHig hHig hHig hL o wV a r ia t io n sAv o id p r o h ib it iv e c o s t o f c h a n g eHig hMo d e r a t eMo d e r a t eL o wC o m p le x it yTe c h n ic a lly a d v a n c e o r h ig h ly c o m p le x b u ild in gMo d e r a t e
317、Hig hHig hL o wRe s p o n s ib ilit yS in g le c o n t r a c t u a l lin kL o wL o wL o wHig hP r o f e s s io n a l Re s p o n s ib ilit yNe e d f o r d e s ig n t e a m t o r e p o r t t o s p o n s o rHig hHig hHig hL o wRis k Av o id a n c eD e s ir e t o t r a n s f e r c o m p le t e r is kL o
318、 wL o wL o wHig hD a m a g e Re c o v e r yFa c ilit y t o r e c o v e r c o s t s d ir e c t f r o m c o n t r a c t o rMo d e r a t eL o wL o wHig hB u ild a b ilit yC o n t r a c t o r in p u t t o e c o n o m ic c o n s t r u c t io nL o wHig hHig hHig hGENERAL CONSTRUCTION DATAGENERAL CONSTRUCT
319、ION DATA287 0%20%40%60%80%100%0%20%40%60%80%100%Project PeriodProgress PaymentsCONSTRUCTION WORKDONE FORECASTThe following graph and table are an indication of the rate of expenditure for construction projects.The rate of expenditure is an average rate and will vary from project to project when spec
320、ifi c project circumstances are taken into account.Construction Workdone ForecastCONTRACTPERIODCUMULATIVE WORKDONECONTRACTPERIODCUMULATIVE WORKDONE 5%1%55%41%10%2%60%50%15%3%65%60%20%4%70%69%25%6%75%77%30%8%80%84%35%12%85%89%40%17%90%93%45%24%95%97%50%32%100%100%Contract Period3PROPERTYProperty Comm
321、entary 2019Property IndicatorsGross Floor Area(GFA)Calculationsin Hong KongGross Floor Area(GFA)Calculationsin PRCConstruction Floor Area(CFA)Defi nitionPROPERTYPROPERTY389PROPERTY COMMENTARY 2019EconomyIn the wake of the prolonged China-US trade war and the worst political crisis in its history,the
322、 Hong Kong economy has been seriously impacted,resulted in an abrupt deterioration in the third quarter of 2019.After a mild increase of 0.4%in Q2,GDP contracted 2.9%YoY in Q3,indicating that the Hong Kong economy has entered a technical recession.This marked the fi rst year-on-year contraction for
323、an individual quarter since the Great Recession of 2009.Both domestic and external demand remained weak.Private consumption expenditure decreased 3.5%in real terms in the third quarter from a year earlier,as against the 1.3%growth in the second quarter.Over the same period,total exports of goods dec
324、lined 7%and imports of goods also fell 11.1%.For the fi rst three quarters,the economy contracted 0.7%YoY.Aff ected by turbulence in the macroeconomic and political environment,the local stock market underwent a sharp correction during the third quarter.The Hang Seng Index dropped by 8.6%from end-Ju
325、ne to end-September,the largest quarterly loss since the third quarter of 2015.Nonetheless,despite being overshadowed by global uncertainties,Hong Kong stood fi rm in its position as the worlds leading IPO hub.According to KPMG,by the end of 2019,Hong Kong will have completed 160 IPOs,raising a tota
326、l of HKD 307.8 billion,with a historical high of 145 new Main Board listings.Two notable mega-sized listings in 2019 included Alibabas secondary listing and the listing of Anheuser-Busch InBev.Provided by:P ROP ERTY9 0(Con td)Sin ce the begin n in g of 2H 19,the retail sector tu mbled,as sen timen t
327、 was d amp en ed by the local social in cid en ts,escalated US-Main lan d trad e ten sion s an d a weaker global econ omy.The con tin u ed social u n rest also d ealt a severe blow to the tou rism sector.The total n u mber of visitorstoHongKongplungedsignificantlyby56.0?inNovember 2019,which marked
328、the biggest YoY mon thly d ecin e sin ce the Sars ou tbreak in 2003.The resolu tion of Sin o-U.S.trad e wars an d the en d of social u n rest will be the key focu ses for better marketsentiment.Lookingahead,thedifficultexternalen viron men t is likely to p ersist in the n ear Term.We expect the loca
329、l econ omy an d in vestmen t sen timen t will remain weak in 2020.ResidentialB oth macro head win d s an d local p olitical crisis have p lagu ed H on g K on gs resid en tial market.The tran saction volu me d rop p ed d rastically in Jun e by 44%MoM to 4,627 u n its,largely attribu table to the weak
330、en ed sen timen t d u e to the ou tbu rst of social u n rest.R esid en tial p rices d rop p ed by 1.7%MoM in Sep tember,which marked a largest fall sin ce December 2018.The market saw a rebou n d in November after the an n ou n cemen t of n ew hou sin g p olicy in relaxi n g the mortgage cap.Total r
331、esid en tial sales reached 5,756 u n its in November,u p 43.9%MoM.Total resid en tial sales reached56,613unitsinthefirst11monthsof2019,upslightly by 2.6%comp ared with the same p eriod in 2018.P rovid ed by:PROPERTYPROPERTY391Residential(Contd)Looking ahead,we expect the various headwinds to continu
332、e to curb buyer confi dence.Nonetheless,the new initiatives of easier mortgage rules should provide stimulus to drive property transaction prices and volume in the short term.For properties worth between HK$6-8 million,buyers only need a down payment of just 10%.These properties will become the main
333、 demand drivers in the market,and drive up transaction volume by as much as 20-30%in the next three to four months,until the purchasing power has been exhausted.Mass and luxury home prices are expected to fall by 5-10%next year,while super luxury residential prices would have a minor correction.We expect the transaction volume of fi rst-hand and second-hand homes to be on a par with last year,and
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