According to the results of the 2024 Annual Survey of Economic Activities - Building, Construction and Real Estate Sectors released today (November 27) by the Census and Statistics Department (C&SD), the construction sector's total receipts (comprising gross value of construction works performed and other business receipts) amounted to $473.7 billion in 2024, representing an increase of 5.0% over 2023; on a per company basis, total receipts was $18.2 million in 2024, increased by 9.8% over 2023.

     Operating expenses and compensation of employees of the construction sector altogether amounted to $440.1 billion in 2024, representing an increase of 6.0% over 2023; on a per company basis, they were $16.9 million in 2024, increased by 10.8% over 2023.

     Gross surplus of the construction sector, which is equal to total receipts less operating expenses and compensation of employees, decreased by 5.9% compared with 2023 to $33.6 billion in 2024; on a per company basis, gross surplus decreased by 1.6% compared with 2023, to $1.3 million in 2024. Gross surplus accounted for 7.1% of total receipts in 2024, down by 0.8 percentage point compared with 2023.

     Industry value added of the construction sector, which is a broad measure of its contribution to Hong Kong's Gross Domestic Product, increased by 4.0% over 2023 to $138.3 billion in 2024; on a per company basis, the industry value added was $5.3 million in 2024, representing an increase of 8.7% over 2023.

     In 2024, there were some 26 000 companies in the construction sector, which directly engaged about 197 500 persons, or an average of 7.6 persons per company.

     The survey did not cover labour-only sub-contractors that mainly supplied labour to work on a job-to-job basis, owing to practical consideration in data collection. The employment figures above mainly covered direct employees of the construction companies and did not reflect the labour input through the sub-contracting activities of labour-only sub-contractors.

     Apart from the construction sector, the survey also enumerated companies engaged in real estate activities; and architectural, surveying and engineering services.

     Total receipts (comprising gross margin of real estate development projects, service and rental income and other business receipts) of companies engaged in the real estate activities (including real estate development, real estate leasing, real estate brokerage and agency, and real estate maintenance management) amounted to $180.0 billion in 2024, representing a decrease of 0.2% compared with 2023. Operating expenses and compensation of employees altogether amounted to $97.3 billion in 2024, representing an increase of 1.0% over 2023. Gross surplus increased by 0.4% over 2023 to $71.5 billion in 2024. Gross surplus accounted for 39.7% of total receipts in 2024, up by 0.2 percentage point over 2023. Industry value added increased by 1.5% over 2023 to $116.0 billion in 2024.

     In 2024, the real estate activities comprised some 11 500 companies and engaged about 125 500 persons, or an average of 10.9 persons per company.

     The survey excluded companies which developed real estate projects for their own use as well as those which owned land but had not developed it during the reference year. Real estate leasing and other related activities undertaken by individuals or firms which engaged less than two persons (except for subsidiaries of real estate enterprises) were also not covered in the survey.

     Total receipts (comprising service income and other business receipts) of companies engaged in the architectural, surveying and engineering services amounted to $29.1 billion in 2024, representing an increase of 4.9% over 2023. Operating expenses and compensation of employees altogether amounted to $25.6 billion in 2024, representing an increase of 6.3% over 2023. Gross surplus decreased by 4.1% compared with 2023 to $3.6 billion in 2024. Gross surplus accounted for 12.2% of total receipts in 2024, down by 1.1 percentage points compared with 2023. Industry value added increased by 4.2% over 2023 to $19.6 billion in 2024.

     In 2024, the architectural, surveying and engineering services comprised some 2 400 companies and engaged about 28 100 persons, or an average of 11.5 persons per company.

     Selected statistics for the building, construction and real estate sectors, with breakdowns by industry grouping, are shown in the attached table.

     More detailed survey results on the building, construction and real estate sectors will be given in the report "Key Statistics on Business Performance and Operating Characteristics of the Building, Construction and Real Estate Sectors in 2024". Users can browse and download this report at the website of C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080011&scode=330) as from end-December 2025.

     For enquiries about the key statistics on business performance and operating characteristics of the building, construction and real estate sectors, please contact the Construction and Miscellaneous Services Statistics Section of the C&SD (Tel: 3903 6964; email: building@censtatd.gov.hk).

Ends/Thursday, November 27, 2025
Issued at HKT 16:30

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