The nominal value of construction projects completed in Hong Kong in the fourth quarter was HK$73.2 billion, a decrease of 6.1% compared to the same period the previous year.

On March 12, the Census and Statistics Department of the Hong Kong government released the interim results of the Quarterly Survey of Construction Output. The total nominal value of construction works completed by the main contractors in the fourth quarter of 2025 was 73.2 billion Hong Kong dollars, a decrease of 6.1% compared to the same period last year. After adjusting for price changes, the interim results showed that, in real terms, the total value of construction works completed by the main contractors during the same period decreased by 8.3%. The real value of construction output is calculated by adjusting the nominal value of construction works completed using appropriate price indices to the price level of the base year 2000. By construction category, the nominal value of private land construction works completed in the fourth quarter of 2025 was 16.6 billion Hong Kong dollars, a decrease of 23.2% compared to the same period last year. In real terms, the decrease was 25.1%. The nominal value of public land construction works completed in the fourth quarter of 2025 increased by 2.9% to 34.3 billion Hong Kong dollars compared to the same period last year. In real terms, however, there was a slight decrease of 0.4%. The nominal value of non-land construction works completed by the main contractors in the fourth quarter of 2025 was 22.2 billion Hong Kong dollars, a decrease of 3.0% compared to the same period last year. In real terms, the decrease was 2.1%. Non-land construction works include small-scale new construction projects, building decoration, building refurbishment and maintenance works, and non-land electrical equipment installation and maintenance works. By main purpose category, the nominal value of residential building construction works completed in the fourth quarter of 2025 was 21.4 billion Hong Kong dollars, a decrease of 3.5% compared to the same period last year. During the same period, the nominal value of transport engineering construction works completed in the fourth quarter of 2025 decreased by 19.3% to 8.7 billion Hong Kong dollars. Comparing seasonally adjusted figures on a quarterly basis, the nominal value of construction works completed by the main contractors in the fourth quarter of 2025 decreased by 4.5% compared to the third quarter of 2025. In real terms, the decrease was 3.1%. Overall in 2025, the interim results showed that the total nominal value of construction works completed by the main contractors was 286.6 billion Hong Kong dollars, a decrease of 1.4% compared to the previous year. After adjusting for price changes, in real terms, the total value of construction works completed by the main contractors in 2025 decreased by 4.5% compared to the previous year. By construction category, the nominal value of private land construction works completed in 2025 was 70.7 billion Hong Kong dollars, a decrease of 16.9% compared to the previous year. In real terms, the decrease was 19.2%. The nominal value of public land construction works completed in 2025 was 130.1 billion Hong Kong dollars, an increase of 10.2% compared to the previous year. In real terms, the increase was 6.2%. The nominal value of non-land construction works completed by the main contractors in 2025 was 85.7 billion Hong Kong dollars, a decrease of 1.9% compared to the previous year. In real terms, the decrease was 3.1%. In terms of main purpose category, residential building construction works accounted for the largest proportion of construction works completed on building land in 2025. The nominal value of these works completed in 2025 was 84.9 billion Hong Kong dollars, an increase of 1.2% compared to the previous year. Transport engineering works were the second largest category of building land construction works in 2025, with a nominal value of 33.3 billion Hong Kong dollars, a decrease of 21.8% compared to the previous year.