XN000022-1993-01-20 — Page 7

WEDNESDAY, JANUARY 20, 1993

SITES

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED ON PUBLIC WAS $4.3 BILLION IN THE THIRD QUARTER OF 1992, REPRESENTING AN INCREASE OF 16.5% AND 5.3% OVER THE SAME QUARTER OF 1991 AND THE SECOND QUARTER OF 1992 RESPECTIVELY.

THE INCREASE WAS MAINLY ATTRIBUTABLE TO THE COMMENCEMENT OF WORK ON A NUMBER OF AIRPORT RELATED PROJECTS.

THE GROSS VALUE OF NON-SITE WORK PERFORMED BY GENERAL CONTRACTORS IN THE THIRD QUARTER OF 1992 WAS $3.5 BILLION, WHICH WAS 19.4% AND 3.7% HIGHER THAN IN THE SAME QUARTER OF 1991 AND THE SECOND QUARTER OF 1992 RESPECTIVELY.

THE TYPES OF WORK PERFORMED INCLUDED MINOR NEW CONSTRUCTION AND RENOVATION WORKS AT ERECTED BUILDINGS AND STRUCTURES.

THE GROSS VALUE OF NON-SITE WORK PERFORMED BY SPECIAL TRADE CONTRACTORS, COMPRISING MAINLY ELECTRICAL AND MECHANICAL FITTING WORKS, TOTALLED $1.3 BILLION.

THIS WAS 17.7% AND 2.1% HIGHER THAN IN THE SAME QUARTER OF 1991 AND THE SECOND QUARTER OF 1992 RESPECTIVELY.

COMBINED

ANALYSED BY END-USE, RESIDENTIAL BUILDING PROJECTS (INCLUDING RESIDENTIAL/NON-RESIDENTIAL BUILDINGS) CONTINUED TO ACCOUNT FOR THE GREATEST PORTION OF THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED ON BOTH PRIVATE AND PUBLIC SITES.

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED IN THESE PROJECTS WAS $5.1 BILLION IN THE THIRD QUARTER OF 1992, REPRESENTING AN INCREASE OF 4.8% AND 9.7% WHEN COMPARED WITH THE SAME QUARTER 1991 AND THE SECOND QUARTER OF 1992 RESPECTIVELY.

OF

COMMERCIAL BUILDING PROJECTS CONTINUED TO FORM THE SECOND LARGEST CATEGORY OF CONSTRUCTION SITE WORK.

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED IN SUCH PROJECTS TOTALLED $1.6 BILLION IN THE THIRD QUARTER OF 1992, WHICH WAS 25.0% AND 22.0% LOWER THAN IN THE SAME QUARTER OF 1991 AND THE SECOND QUARTER OF 1992 RESPECTIVELY.

THE DECREASE WAS ACROSS THE BOARD IN THE CATEGORIES OF OFFICE BUILDINGS, HOTELS AND MULTI-PURPOSE COMMERCIAL BUILDINGS.

THE VALUE OF CONSTRUCTION WORK PERFORMED IN TRANSPORT PROJECTS CONTINUED TO INCREASE IN THE THIRD QUARTER OF 1992, TO A LEVEL COMPARABLE TO THAT OF COMMERCIAL BUILDING PROJECTS, AT $1.6 BILLION. THIS WAS 10.9% AND 14.3% HIGHER THAN IN THE SAME QUARTER OF 1991 AND THE SECOND QUARTER OF 1992 RESPECTIVELY,

AS CONSTRUCTION WORK IN A NUMBER OF TRANSPORT PROJECTS RELATING THE NEW AIRPORT HAD JUST STARTED, THIS INCREASING TREND WOULD PROBABLY CONTINUE IN THE COMING QUARTERS.

TO

OWING ΤΟ THE WIDESPREAD SUB-CONTRACTING PRACTICES IN THE CONSTRUCTION INDUSTRY, A CONSTRUCTION ESTABLISHMENT CAN BE A MAIN CONTRACTOR FOR ONE CONTRACT AND A SUB-CONTRACTOR FOR ANOTHER

CONTRACT

AT

THE SAME TIME.

/THE GROSS