The total nominal value of completed construction projects in Hong Kong in the third quarter was HK$73.4 billion, down 1.5% from the same period last year

The Zhitong Finance App learned that on December 11, the Hong Kong Government Statistics Department announced the provisional results of the “Quarterly Survey on Construction Project Completion Volume”. The total nominal value of construction works completed by major contractors in the third quarter of 2025 was HK$73.4 billion, down 1.5% from the same period last year.

Excluding the impact of price changes, the provisional results showed that in real terms, the total value of construction work completed by major contractors decreased by 5.5% during the same period. The total value of construction work completed in real terms is calculated by reducing the nominal total value of the corresponding construction project completion amount to the price level of the base period 2000 through an appropriate price index.

Analyzed by construction project type, the total nominal value of private site construction projects completed in the third quarter of 2025 was HK$16.9 billion, down 18.1% from the same period last year. In real terms, the decline was 20.8%. The total nominal value of public site construction projects completed in the third quarter of 2025 increased by 7.7% over the same period last year to HK$34.1 billion. In real terms, the increase was 2.0%.

The total nominal value of non-site construction projects completed by major contractors in the third quarter of 2025 was HK$22.4 billion, a slight increase of 0.7% over the same period last year. In real terms, there was a slight decrease of 0.4%. Off-site construction projects include small-scale new construction projects, building decoration, building repair and maintenance works, and off-site electrical equipment installation and maintenance works.

Analyzed by major use categories, the total nominal value of site construction projects completed in the third quarter of 2025 was HK$21.3 billion, a slight increase of 0.9% over the same period last year. Over the same period, the total nominal value of site construction projects completed in the third quarter of 2025 decreased by 32.3% to HK$7.6 billion.

On a quarterly basis with seasonally adjusted figures, the total nominal value of construction works completed by major contractors in the third quarter of 2025 increased by 1.8% compared to the second quarter of 2025. In real terms, the increase was 0.1%.