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December 22, 2021

Building fund enhancements set

The Development Bureau recently announced that a series of enhancement measures under the Construction Innovation & Technology Fund will be launched, further supporting the industry in leveraging innovative construction technologies to enhance productivity and quality.

     The enhancement measures were announced after the bureau and the Construction Industry Council completed the mid-term review of the fund. The measures, which include an uplifted funding ceiling, expanded funding scope and streamlined application procedures, will be applicable to applications received from January 1 next year.
     Secretary for Development Michael Wong remarked that the fund has so far approved about 2,200 applications at a sum of $550 million since its launch in October 2018.
     Since the fund launch, the prominent increase in the number of construction projects adopting innovative technologies such as the use of building information modelling, modular integrated construction, advanced construction technologies and prefabricated steel reinforcing bars as well as the upswing in industry practitioners receiving technology-related training has proved the fund’s effectiveness in supporting the industry to move towards "Construction 2.0", Mr Wong said.
     Construction Industry Council Chairman Chan Ka-kui said the fund has successfully raised the industry's awareness in the adoption of innovative construction technology. Online registration is available <click here>.