The Construction Industry Development Board (CIDB) is optimistic that the local construction industry will record its third consecutive year of double-digit growth this year, given the number of projects undertaken year-to-date, reported The Star.
According to CIDB corporate and business sector senior general manager Sariah Abdul Karib, construction projects undertaken in 2014 amounted to around RM160 billion, comprising both private and public projects.
“We’re still projecting double-digit growth. We’re confident we can achieve it despite the current market environment,” she said.
“We’ve been achieving double-digit growth since 2012 and the momentum is still there.”
Sariah reportedly said in June that the construction sector is expected to grow by 10.3 percent this year compared with 2014’s 11.8 percent. The sector grew by 10.6 percent in 2013 and 18.1 percent in 2012.
Meanwhile, CIDB expects productivity to increase 2½ times to US$16,500 (RM61,939) per worker in 2020, said Sariah.
She believes that once the Construction Industry Transformation Programme (CITP) gathers momentum, productivity will be boosted by the modernisation of technology, with emphasis on industrialised building systems (IBS) and building information modelling as effort multipliers.
Currently, all government projects in excess of RM10 million are required to incorporate IBS in their developments.
“But it’s not 100 percent yet. Currently the utilisation rate is around 42 percent,” she said.
“This is because a lot of projects are in remote areas and it is hard to bring technology into the areas.”
Launched this month, CITP is a five-year plan to transform the country’s construction industry by 2020 in areas of safety and professionalism, quality, environmental sustainability, internationalisation and productivity.
(Source From propertyuguru.com.my)
Link From:
http://www.propertyguru.com.my/property-news/2015/9/108124/construction-industry-to-achieve-double-digit-grow?utm_source=pgmy-newsalert&utm_medium=edm&utm_campaign=dailynews-17Sep2015&utm_content=links
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