Share
KUALA LUMPUR (April 11): Malaysia's construction segment is expected to grow between 8% and 10% in 2016 in terms of projects undertaken, driven by government infrastructure projects, said Works Minister Datuk Seri Fadillah Yusof.
"We are expecting growth of between 8% [and] 10% for 2016, driven by infrastructure projects including the MRT, LRT, the highway projects in East Malaysia and affordable housing projects," he said.
He added that these projects ensure consistent growth in the local construction segment, which will contribute to the country's economy as well as its people through employment opportunities.
Meanwhile, Master Builders Association Malaysia (MBAM) president Matthew Tee noted the Malaysian construction segment saw double-digit growth from 2012 to 2014.
"The sector has recorded double-digit growth from 2012 up to 2014. For 2015, the figure has not been finalised but growth of 8.2% is expected.
"For this sector, growth so far has been spearheaded more by government projects," said Tee.
He added that private projects are contributing a lower portion to the sector due to the slowdown in the local property market.
"Demand for housing is still there, but it is very hard for buyers to secure financing. Loan rejection rates are very high. If the central bank can loosen their policy, then the property sector can rise again," he said.
Fadillah and Tee were speaking to the media at a press conference held in conjunction with the seventh Malaysian Construction Summit 2016. – theedgemarkets.com
TOP PICKS BY EDGEPROP
Austin Residence @Taman Mount Austin
Johor Bahru, Johor
RPT LABOHAN BILIS, TANJUNG HANTU/TELUK SENANGIN
Kinta, Perak
The Walden @ Bandar Seri Coalfields
Sungai Buloh, Selangor
