Malaysian Construction Sector to Gradually Evolve by Tapping New Opportunities: Ken Research
Posted on 19 September 2017 by KenResearch Manufacturing And Construction,
The construction sector primarily covers the construction of buildings or engineering projects such as highways, homes and public utility buildings. Firm that involves in the preparation of sites for construction and subdividing land are included in construction sector. Construction sector includes work, additions, alterations, maintenance and repairs.
The construction of buildings or facilities associated with outdoor leisure activities for public are categorized as outdoor leisure facilities. Outdoor leisure facilities in Malaysia include theme parks, parks, playgrounds, sports and track fields, golf courses, athletics tracks, outdoor cinemas and other outdoor recreation facilities.
The construction market of the Malaysian outdoor leisure facilities has witnessed a great fluctuation with decline in the market. The construction activity includes new construction, repair and maintenance, refurbishment and demolition and by the cost type includes construction materials, construction equipment and construction services.
According to the report, “Leisure & Hospitality Buildings (Construction) in Malaysia: Market Analytics by Category & Cost Type to 2021”, commercial constructions in Malaysia cover construction of office buildings, sports complexes (such as athletic fields, golf courses and parks), shopping centres, and hotels excluding residential buildings. Commercial constructions market includes five categories: leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings and other commercial construction. The constructions of any building through which physical goods are sold are categorized under retail buildings. It includes, but is not limited to, shops, malls, department stores, supermarkets, hypermarkets, and garages and service stations. It excludes foodservice facilities, except where those facilities are components of larger retail developments.
The increase in the construction players and the introduction of new players in the construction business is sure to help the growth in the construction sector in Malaysia. Malaysia’s tourism sector is showing signs of recovery with growth in tourists’ arrivals from around the world. With the recovery in tourism, the outdoor leisure facilities in Malaysia are sure to increase paving way for more construction opportunities. The opportunities in constructions of Leisure and Hospitality buildings will help in a slow growth in the coming years.
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