Despite the high property prices, urbanization and the need for sustainable buildings will initiate growth in the Asia-Pacific building construction market, says a new report from Frost & Sullivan.
Green buildings with smart energy efficiency features will be of much demand. Newinvestors will have to find alternate ways to capitalize on the potential as buyers mostly rely on established builders, the report, Building Construction Market in Asia-Pacific, said.
The market earned revenues of US$494.49 billion in 2013. This is estimated to reach US$750.00 billion in 2018.
Southeast Asia will have better scope for expansion due to burgeoning population, increasing urbanization, and economic growth especially in countries like Thailand, Indonesia, Vietnam and Malaysia.
The market will thrive as government emphasize on the need for energy-efficiency solutions, encouraging construction of green and smart buildings. The market will get organized with the implementation of suitable guidelines for sustainable building construction, reveals the report.
Developers will delay project launches as they will evaluate the impact of newly announced government schemes and programs. The property price escalation and competition will affect construction to an extent.
Investors will offer smart propositions to ensure the construction of cost- and energy-efficient buildings and differentiate themselves from their competitors.
Existing cities will continue to strive for environmental sustainability. Emerging cities will incorporate themes that promote energy efficiency and integration with other markets. Market participants offering green and smart solutions will have surviving chances with more business opportunities.
editor@greentechlead.com