Construction & Real Estate

Sarawak 2015 Construction & Real Estate

Steady economic growth, increased industrialisation, rapid urbanisation and one of the highest foreign investment rates in the country are all contributing to fuel a strong performance in Sarawak’s construction industry. The private and public sectors are doing their part to fill up the order books and, as a result, the construction industry has nearly doubled in productivity over the five-year span of 2009-13, during which the annual value of completed projects spiked from $1.5bn to $2.4bn. The myriad of factors influencing Sarawak’s real estate market have resulted in a mixed bag for the sector, with property growth, value and transaction activity all varying widely by region. Despite the regulatory uncertainties giving property developers and purchasers pause on a national level, the real estate market looks set to continue its strong run in Sarawak, due largely to a robust investment pipeline that should help fuel demand for the foreseeable future.

This chapter contains interviews with Richard Curtis, Group Managing Director, Cahya Mata Sarawak; and Joseph Wong Kee Liong, President, Sarawak Housing and Real Estate Developers Association.

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