More Retail Buildings To Be Constructed In Malaysia Subject To New Economic Plan -Ken Research

Infrastructure is one of the key factors for the economic development of a country. A well planned and efficient infrastructure boosts the economic growth. One of the key industries that has a very important role in the development of infrastructure is construction and manufacturing sector. Technological innovations are leading different segments of the industry towards progress. Several new developments in this field are changing the face of the industry. Reduction in labor costs and changing preferences of the buyers of the home are opening up vast opportunities in this field. Automation has reduced the cost of labor and this has resulted in significant rise in the industry.

Retail buildings are those which are constructed to sell various physical goods. Also retail buildings may be constructed to sell some of the services. These retail buildings include department stores, shops, supermarkets, malls, service stations, garages, hypermarkets, but are not limited to just them. Retail buildings, however, exclude or do not sell foodservice facilities except in those situations in which these facilities are some parts of larger developments in retail.

The retail construction market in Malaysia has been marked by various fluctuations, both in terms of average annual growth rate and in terms of value, in the recent years and this means that a certain uncertainty is looming over the industry.

The report titled “Retail Buildings (Construction) in Malaysia: Market Analytics by Category & Cost Type to 2021” provides an in-depth and detailed analysis of the operating environment of the market. It can prove to be a vital tool for the various active players in the construction sector value chain in Malaysia. It is also substantially important for the new entrants in the market.

The activities of construction sector in Malaysia have been dominated by various large-scale projects, both in the public and private domain, over the years. These projects are largely driven by the efforts of the investors and of the Malaysian government to successfully implement the five-year plans launched by the government to propel the country into the league of the developed nations. The 11MP that is the 11^th Malaysian Plan, which covers the years of 2016-2020, has put the spotlight on the construction sector among other economic areas, in order to boost the infrastructure of the country and result in economic growth. This plan is put under four main strategies and it calls for continuation of an already in place “Construction Industry Transformation Programme” which is considered to be separate from other such ones and is covering the five year period in the purview of the 11^th Malaysian Plan.

This programme is expected to enable the industry to meet the ever increasing market demands in Malaysia and push the construction industry of the nation from the national to international playground and cumulatively help the retail construction market nurture well in the coming years.

Topics Covered in The report