Macau Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)

The analyst expects growth in Macau’s construction industry to slow from 5.6% in real terms in 2024 to 3.8% in 2025. This is primarily due to a reduction in profit margins from the gaming sector - which is a dominant driver of Macau’s economy. In April 2025, Macau’s finance secretary has warned that the government revenues may fall short of the initial forecasts, in 2025, due to lower-than-expected gross gaming revenue (GGR). According to data from the Gaming Inspection and Coordination Bureau, Macau’s GGR rose just by 0.6% year on year (YoY) in Q1 2025, to MOP57.7 billion ($7.2 billion). Subsequently, the gaming tax revenue rose by just 0.2% YoY in the first quarter of 2025, to MOP22.2 billion ($2.8 billion); this represents 88% of the government’s total revenue. In another setback to the industry’s output, in April 2025, the International Monetary Fund (IMF) revised down Macau’s economic growth projections for 2025, from 7.3% in October 2024 to 3.6%, citing a softer-than-expected gaming recovery.

The construction industry in Macau is estimated to register an average annual growth rate of 4.1% from 2026 to 2029, supported by investments in transport, electricity, and housing infrastructure projects. Macau International Airport Company Limited (CAM) reported a 24% increase in total revenue for 2024, reaching MOP1.5 billion ($185 million). Indeed, the Passenger traffic at Macau International Airport exceeded 7.6 million in 2024, with nearly 60,000 flight movements. This translates to a YoY rise of over 40% compared to 2023. To increase the passenger handling capacity, CAM initiated a major land reclamation project in November 2024 to expand the airport, with completion targeted by 2030

The Construction in Macau - Country Briefing (H1 2025) report provides detailed market analysis, information, and insights into Macau’s construction industry, including:

• Macau’s construction industry's growth prospects by market, project type and construction activity
• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Macau’s construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Macau. It provides:

• Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Macau, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

• Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
• Assess market growth potential at a micro-level with over 600 time-series data forecasts
• Understand the latest industry and market trends
• Formulate and validate business strategies using the analyst's critical and actionable insight
• Assess business risks, including cost, regulatory and competitive pressures
• Evaluate competitive risk and success factors