Building supports HK GDP

PUBLISHED : Wednesday, 22 June, 1994, 12:00am
UPDATED : Wednesday, 22 June, 1994, 12:00am

HONG Kong's powerful construction industry is one of the main contributors to the territory's economic growth. The industry was valued at $63.8 billion in 1993, eight per cent of the territory's GDP.

Construction of Chek Lap Kok airport is providing a significant boost to the territory's building industry.

The airport project is made up of 10 separate schemes, estimated to cost $163.7 billion.

The construction industry will be busy working on airport-related projects into the next century, building airport terminals, railways, tunnels, expressways, one of the world's longest suspension bridges and land reclamation.

The Housing Authority plans to spend $41 billion over the next five years on new projects which will sustain further growth of the construction industry.

A new town at Tung Chung aims to provide homes for 20,000 people by 1997.