Key stats on business performance & operating characteristics of building, construction & real estate sectors 2014

Analysis, Slider 27 Nov 2015
Key stats on business performance & operating characteristics of building, construction & real estate sectors 2014

Hong Kong Key statistics on business performance and operating characteristics of the building, construction and real estate sectors in 2014 [26 Nov 2015]

According to the results of the 2014 Annual Survey of Economic Activities – Building, Construction and Real Estate Sectors released today (November 26) by the Census and Statistics Department (C&SD), the construction sector’s total receipts (comprising gross value of construction works performed and other business receipts) amounted to $327.4 billion in 2014, representing an increase of 13.2% over 2013; on a per establishment basis, total receipts increased by 1.5% compared with 2013 to $13.2 million in 2014.

Operating expenses and compensation of employees of the construction sector altogether amounted to $303.4 billion in 2014, representing an increase of 11.0% over 2013; on a per establishment basis, they decreased by 0.4% compared with 2013 to $12.2 million in 2014.

Gross surplus of the construction sector, which is equal to total receipts less operating expenses and compensation of employees, increased by 51.0% over 2013 to $24.0 billion in 2014; on a per establishment basis, gross surplus increased from $0.71 million in 2013 to $0.96 million in 2014. Gross surplus accounted for 7.3% of total receipts in 2014, up by 1.8 percentage points over 2013.

Value added of the construction sector, which is a measure of its contribution to Hong Kong’s Gross Domestic Product, increased by 15.4% over 2013 to $96.8 billion in 2014; on a per establishment basis, the value added was $3.9 million in 2014, representing an increase of 3.5% over 2013.

In 2014, there were some 24 900 establishments in the construction sector, which directly engaged about 189 500 persons, or an average of 7.6 persons per establishment.

The survey did not cover labour-only sub-contractors that mainly supplied labour to work on a job-to-job basis, owing to practical consideration in data collection. The employment figures above mainly covered direct employees of the construction establishments and did not reflect the labour input through the sub-contracting activities of labour-only sub-contractors.

Apart from the construction sector, the survey also enumerated establishments engaged in real estate activities; and architectural, surveying and engineering services.

Total receipts (comprising gross margin of real estate development projects, service and rental income and other business receipts) of establishments engaged in the real estate activities (including real estate development, real estate leasing, real estate brokerage and agency and real estate maintenance management) amounted to $178.0 billion in 2014, representing an increase of 2.4% compared with 2013. Operating expenses and compensation of employees altogether amounted to $72.7 billion in 2014, representing a decrease of 0.8% compared with 2013. Gross surplus increased by 4.7% compared with 2013 to $101.2 billion in 2014. Gross surplus accounted for 56.8% of total receipts in 2014, up by 1.2 percentage points compared with 2013. Value added increased by 4.5% compared with 2013 to $126.5 billion in 2014.

In 2014, the real estate activities comprised 7 100 establishments and engaged about 107 600 persons, or an average of 15.2 persons per establishment.

The total number of private real estate projects ever operated in 2014 was 329. As at end 2014, 228 projects, which were expected to provide a total 5.8 million square metres of gross floor area of buildings when completed, were still under construction. Among them, 22% were on Hong Kong Island, 35% in Kowloon and 43% in the New Territories and outlying islands.

Table: Selected statistics for the building, construction and real estate sectors in 2014

http://gia.info.gov.hk/general/201511/26/P201511260589_0589_155761.pdf

The survey excluded establishments which developed real estate projects for their own use as well as those which owned land but had not developed it during the reference year. Real estate leasing and other related activities undertaken by individuals or firms which engaged less than two persons (except for subsidiaries of real estate enterprises) were also not covered in the survey.

Total receipts (comprising service income and other business receipts) of establishments engaged in the architectural, surveying and engineering services amounted to $21.5 billion in 2014, representing an increase of 3.7% compared with 2013. Operating expenses and compensation of employees altogether amounted to $18.6 billion in 2014, representing an increase of 5.9% over 2013. Gross surplus decreased by 9.1% compared with 2013 to $2.9 billion in 2014. Gross surplus accounted for 13.3% of total receipts in 2014, down by 1.9 percentage points compared with 2013. Value added increased by 6.6% compared with 2013 to $14.9 billion in 2014.

In 2014, the architectural, surveying and engineering services comprised some 1 900 establishments and engaged about 27 400 persons, or an average of 14.7 persons per establishment.

Key stats on business performance & operating characteristics of building, construction & real estate sectors 2014.

 

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