KUALA LUMPUR, July 29 – The Malaysia External Trade Development Corporation (Matrade) has asked Malaysian contractors and suppliers of building materials to explore the promising business opportunities in New Zealand, namely in Christchurch City, which is undergoing reconstruction worth over RM100 billion.
In April, the New Zealand government estimated the total cost for the reconstruction and rebuilding of Christchurch at RM102 billion.
Statistics showed more than 20,000 buildings have been repaired since the devastating Canterbury earthquake in September 2011, which led transformed Christchurch to be the focus for builders, contractors and suppliers of various construction and building materials.
“However, most of the affected areas still need to be rebuilt, with more than 90 per cent of the work still in the pipeline.
“This offers tremendous opportunities for Malaysian companies to participate in rebuilding the scenic Christchurch,” the trade and investment promotion agency said in a statement today.
A recent survey on Building Construction Sentiment, the construction sector in New Zealand would continue to show a positive growth, with more work to be made available over the coming years as the efforts might stretch to more than 20 years.
Of the 4,000 buildings within the Four Avenues of Christchurch, 1,000 had to be demolished, the survey showed.
The survey also reported building refurbishment work topped the construction business list with 76 per cent growth opportunities, followed by retirement and senior living facilities and residential units, 70 per cent and 65 per cent, respectively, as well as modular housing units.
Among the potential products for the market are modular buildings; builders joineries and carpentries; brick, concrete and tiles; pipes; home repairs decoration products and furniture.
Matrade said Malaysian companies keen to explore the New Zealand market can contact the Matrade office in Sydney for assistance.
– BERNAMA
