The growth of construction industry in Malaysia
• Many gigantic projects in 2008 will build.
• The construction industry exceeds those of GDP movements over a 30-year period (1974 to 2004).
The Construction industry has been declining between 2004-2006 but came back with a bang in the year 2007. 2008 promises to be better yet with many gigantic projects, including the ECER (East Corridor Economic Region), NCER (North Corridor Economic Region), IDC (Iskandar Development Corridor), SER (Sabah Economic Corridor) and SCORE (Sarawak Corridor of Renewable Energy) developments set to take places.
A review of GDP and construction growth trend over a 30-year period (1974 to 2004) reveals that the business cycle swings endured by the construction industry noticeably exceed those of GDP movements as shown in the diagram below.
It is also anticipated that the 9th Malaysia Plan, a five-year economic development plan for Malaysia (2006 - 2010), will announce projects of significant size to rejuvenate the industry.
• Many gigantic projects in 2008 will build.
• The construction industry exceeds those of GDP movements over a 30-year period (1974 to 2004).
The Construction industry has been declining between 2004-2006 but came back with a bang in the year 2007. 2008 promises to be better yet with many gigantic projects, including the ECER (East Corridor Economic Region), NCER (North Corridor Economic Region), IDC (Iskandar Development Corridor), SER (Sabah Economic Corridor) and SCORE (Sarawak Corridor of Renewable Energy) developments set to take places.
A review of GDP and construction growth trend over a 30-year period (1974 to 2004) reveals that the business cycle swings endured by the construction industry noticeably exceed those of GDP movements as shown in the diagram below.
It is also anticipated that the 9th Malaysia Plan, a five-year economic development plan for Malaysia (2006 - 2010), will announce projects of significant size to rejuvenate the industry.
