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Malaysia Residential Building (Design & Construction) Industry Analysis
Malaysia has a well-established residential construction industry, driven by the growing population and increasing demand for affordable housing. The industry has been a major contributor to the country's economic growth, accounting for a significant portion of the construction sector's overall output.
Currently, the residential construction industry in Malaysia is facing a number of challenges, including rising material costs, a shortage of skilled labor, and increasing competition from foreign developers. These factors have resulted in a slowdown in the industry's growth in recent years, with fewer new projects being launched and delays in ongoing developments.
However, the industry outlook remains positive, with the government actively promoting the development of affordable housing projects to address the growing housing needs of the population. In addition, the country's growing middle class and urbanization trend are expected to fuel demand for new residential developments, particularly in the major cities.
Local developers, such as S P Setia Berhad, UEM Sunrise Berhad, and Mah Sing Group, continue to dominate the residential construction market, but are facing increasing competition from foreign developers. China-based Country Garden Holdings Co Ltd, for example, has recently launched several large-scale residential projects in Malaysia, targeting both local and foreign buyers.
The government's initiatives, such as the National Housing Policy and the Malaysia My Second Home program, are expected to further boost the industry's growth by promoting affordable housing and attracting foreign investment.
In conclusion, despite the current challenges, the outlook for the residential construction industry in Malaysia is promising, with the government's support and increasing demand for affordable housing expected to drive growth in the coming years.
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