KUALA LUMPUR: Construction projects worth RM350bil are expected to come onstream over the next two to three years with the announcement of Budget 2018.
Master Builders Association Malaysia (MBAM) president Foo Chek Lee said outstanding projects in the construction industry are estimated to be worth at least RM138bil currently.
He said while Budget 2018 did not specifically mention allocations for the construction industry, the government had allocated RM2.2bil for public housing projects such as 1Malaysia People's Housing Programme (PR1MA).
“Affordable housing projects under Budget 2018 like PR1MA, apart from rail transportation projects such as Mass Rapid Transit Line 3 or Circle Line, among others, will definitely spur the construction industry in Malaysia and stimulate economic growth,” he told a press conference on the sidelines of the MBAM Building and Construction Conference 2017 here yesterday.
Also present were Construction Industry Development Board (CIDB) chairman Tan Sri Dr Ahmad Tajuddin Ali and Eversendai Corporation Bhd executive chairman and group managing director Tan Sri A.K. Nathan.
Earlier, Ahmad Tajuddin in his opening speech lauded the government for stepping up measures by making it mandatory for all private projects to use industrialised building system (IBS) for projects valued at RM50mil or more in three years' time.
“By declaring this new mandate in advance, industry players can prepare themselves to meet the deadline by developing or acquiring the necessary skills and resources to embrace the technology,” he said.
Ahmad Tajuddin added that the target had also been set as one of the key performance indicators under the productivity thrust of the Construction Industry Transformation Programme 2016-2020. — Bernama
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