Growth for the construction industry

Will the Malaysian election hurt the property market

Malaysia’s vast number of projects are contributing to a healthy construction industry.  

The country’s construction industry has been fairing well of late. Growing by 7.4 percent in 2016 it is predicted that the industry will grow by a further eight percent this year alone. A result of the vast number of infrastructure projects that are planned plus real estate projects too. The total industry combined is anticipated to be worth MYR 170 billion. Additionally there will be even more demand for scaffolding due to the rapid surge in construction.

The projects behind this growth are Forest City: a mixed-use scheme sitting on an artificial island site bordering Singapore that covers 14 square kilometres; Tun Razak Exchange: a purpose built financial district in Kuala Lumpur, Bandar Malaysia: set to be the country’s centre of transport as the interconnecting point for Kuala Lumpur-Singapore high-speed rail, MRT lines, KTM Komuter, Express Rail Link and 12 highways in addition to huge scale real estate project; and Cyberjaya City Centre: a mega mixed project dubbed to become a smart city and global technology hub with a developmental value of MYR 11 billion.

The scaffolding industry is valued at MYR 40 million per year, making up a sizable chunk of the construction industry. A figure that is anticipated to grow even further in the future according to the MKRS Group, a firm that supplies scaffolding in Malaysia. Due to the increasing number of construction sites in the country and rising number of accidents, MKRS have set up a training programme dedicated entirely to highlighting safety during construction.