KUALA LUMPUR, Nov 2 ― The growth momentum for the construction sector is expected to improve slightly in 2019, expanding 4.7 per cent following an increase in new planned supply in affordable houses and industrial segments.
The Economic Outlook 2019 Report, released by the Ministry of Finance today, however, said a review of several infrastructure projects as well as subdued activities in the non-residential sub-sector was expected to weigh down on the sector’s performance.
“The civil engineering sub-sector is expected to remain as the driver of the construction sector in 2018 and 2019 largely supported by ongoing projects.
“Among the infrastructure projects include the Pan Borneo Highway in Sabah and Sarawak, Central Spine Road in East Coast as well as Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya Line and Light Rail Transit Line 3 in Klang Valley,” the report said.
Meanwhile, the residential sub-sector is expected to grow at a marginal pace following the mismatch between supply and demand.
“Developers are focusing on sales of existing projects to address the overhang issue while the government will continue to provide affordable housing for the low and middle income groups through various programmes,” the report added. ― Bernama
