Asia Construction

Costs Summary

Fourth Quarter 2013

Asia Construction Costs Summary

Shanghai

Beijing

Guangzhou/
Shenzhen

Chongqing/
Chengdu

Dalian

Shenyang

Building Type
RMB / m2 CFA

DOMESTIC
z

Apartments, high rise, average standard

- Shell and core

Apartments, high rise, high end

- Shell and core

Terraced houses, average standard

- Shell and core

2,600 - 3,000
4,500 - 5,000

2,600 - 3,000
4,100 - 4,500

3,200 - 3,500
3,100 - 4,500
11,000 - 12,000 10,100 - 11,500

2,310 - 2,550
3,450 - 3,810

2,300 - 2,700
3,300 - 4,200

2,500 - 2,700
3,800 - 4,400

2,400 - 2,600
3,500 - 4,000

2,900 - 3,150
5,730 - 6,330

2,800 - 3,400
5,300 - 7,000

2,900 - 3,300
7,200 - 7,900

2,800 - 3,200
5,800 - 6,500

3,000 - 3,200
N/A

3,000 - 3,500
6,000 - 6,500

2,600 - 2,870
N/A

2,600 - 3,200
N/A

2,800 - 3,200
N/A

2,600 - 3,000
N/A

4,500 - 5,000
N/A

4,500 - 5,000
11,500 - 12,000

3,550 - 3,920
N/A

3,600 - 4,200
N/A

3,800 - 4,200
N/A

3,500 - 3,800
N/A

6,000 - 8,000

6,000 - 8000

5,020 - 5,550

5,500 - 6,500

5,700 - 6,100

5,500 - 6,000

8,000 - 10,000

8,000 - 10,000

6,900 - 7,620

7,000 - 9,500

7,800 - 8,200

7,500 - 8,500

N/A

4,500 - 6,000

4,780 - 5,280

4,300 - 5,600

5,000 - 5,600

4,500 - 5,000

8,500 - 11,000

8,000 - 11,000

7,060 - 7,800

7,500 - 10,000

7,700 - 8,700

7,500 - 8,500

Detached houses, high end

- Shell and core

OFFICE / COMMERCIAL

Out-of-town shopping centre, average standard

Retail malls, high end

INDUSTRIAL
z

Industrial units, shell only.

(Conventional single storey framed unit)

3,500 - 4,000

3,500 - 4,000

3,260 - 3,600

3,000 - 4,000

N/A

N/A

Owner operated factories, low rise, light

weight industry

N/A

N/A

N/A

N/A

N/A

N/A

6,500 - 8,000

6,500 - 8,000

6,490 - 7,170

6,500 - 8,000

6,800 - 7,400

6,600 - 7,300

HOTEL
z

Budget hotels - 3-star, mid market

Business hotels - 4/5-star

11,000 - 15,000 11,000 - 14,000 10,480 - 11,580 12,000 - 15,000 11,500 - 13,000 10,000 - 13,000

Luxury hotels - 5-star

15,000 - 18,000 14,000 - 18,000 14,300 - 15,800

N/A

N/A

N/A

OTHERS
z

Underground/basement car parks

(<3 levels)

5,000 - 7,000

4,500 - 5,000

3,300 - 5,300

N/A

N/A

3,800 - 4,200

Multi storey car parks, above ground

(<4 levels)

2,500 - 3,500

2,500 - 3,000

2,360 - 2,600

2,300 - 2,700

2,400 - 2,500

2,300 - 2,500

Schools (primary and secondary)

3,500 - 4,500

3,500 - 4,500

2,610 - 2,890

N/A

N/A

N/A

Students' residences

2,500 - 3,500

2,500 - 3,500

1,660 - 1,840

N/A

N/A

N/A

Sports clubs, multi purpose sports/leisure

(dry sports) with a/c and including FF&E

6,500 - 8,000

6,000 - 8,000

4,890 - 5,410

N/A

N/A

N/A

General hospitals - piblic sector

N/A

N/A

N/A

N/A

10,000 - 13,000 8,000 - 10,000

ASIA CONSTRUCTION COSTS SUMMARY

FOURTH QUARTER 2013

Asia Construction Costs Summary

Hong Kong

Macau

Singapore

Kuala Lumpur

Bangkok

Building Type
USD / m2 CFA (See also exchange rates per U.S. dollar below)
HK$ 7.80

MOP 7.99

S$ 1.25

RM 3.19

BAHT 31.69

N/A
2,880 - 3,420

N/A
1,880 - 2,300

N/A
1,560 - 1,760

N/A
410 - 610

N/A
694 - 884

N/A
3,900 - 4,550

N/A
2,620 - 4,010

N/A
2,360 - 3,520

N/A
980 - 1,175

N/A
1,010 - 1,199

N/A
3,950 - 4,600

N/A
3,220 - 3,830

N/A
2,000 - 2,240

N/A
285 - 410

N/A
505 - 631

N/A
5,300 - 5,850

N/A
3,920 - 5,260

N/A
2,520 - 3,360

N/A
955 - 1,170

N/A
852 - 1,041

2,880 - 3,420

2,170 - 2,800

2,000 - 2,200

770 - 885

663 - 820

3,630 - 4,400

2,800 - 3,070

2,200 - 2,440

1,110 - 1,495

884 - 1,136

DOMESTIC
z

Apartments, high rise, average standard

- Shell and core

Apartments, high rise, high end

- Shell and core

Terraced houses, average standard

- Shell and core

Detached houses, high end

- Shell and core

OFFICE / COMMERCIAL

Out-of-town shopping centre, average standard

2,880 - 3,420

2,040 - 3,070

2,200 - 2,360

845 - 1,095

663 - 865

Retail malls, high end

3,950 - 4,550

3,220 - 3,950

2,360 - 2,600

685 - 825

868 - 931

INDUSTRIAL
z

Industrial units, shell only.

(Conventional single storey framed unit)

N/A

N/A

840 - 1,080

410 - 515

521 - 631

Owner operated factories, low rise, light

weight industry

2,220 - 2,780

N/A

N/A

550 - 615

N/A

HOTEL
z

Budget hotels - 3-star, mid market

3,750 - 4,000

2,880 - 3,270

2,480 - 2,680

1,285 - 1,775

1,199 - 1,325

Business hotels - 4/5-star

3,950 - 4,550

3,920 - 4,760

3,160 - 3,600

2,225 - 2,570

1,515 - 1,736

Luxury hotels - 5-star

4,550 - 5,250

4,760 - 6,010

3,160 - 3,600

2,475 - 2,855

1,767 - 1,893

OTHERS
z

Underground/basement car parks

(<3 levels)

2,120 - 2,630

1,560 - 1,880

1,080 - 1,480

460 - 625

568 - 757

Multi storey car parks, above ground

(<4 levels)

1,260 - 1,470

950 - 1,280

760 - 1,080

270 - 350

189 - 316

Schools (primary and secondary)

2,450 - 2,600

1,880 - 2,250

N/A

280 - 320

N/A

Students' residences

2,050 - 2,450

1,500 - 1,750

1,840 - 2,000

360 - 400

N/A

Sports clubs, multi purpose sports/leisure

(dry sports) with a/c and including FF&E

3,550 - 4,050

N/A

2,280 - 2,440

745 - 810

N/A

General hospitals - public sector

4,850 - 5,450

N/A

3,160 - 3,320

1,115 - 1,370

N/A

ASIA CONSTRUCTION COSTS SUMMARY

FOURTH QUARTER 2013

Asia Construction Costs Summary

Jakarta

Brunei

Manila

Seoul

Building Type
USD / m2 CFA (See also exchange rates per U.S. dollar below)
IDR 11,400

B$ 1.24

PHP 43.2

KWR 1,110

N/A
640 - 720

N/A
804 - 1,104

N/A
890 -940

N/A
1,225 - 1,500

N/A
880 - 1,000

N/A
993 - 1,293

N/A
1,200 - 1,250

N/A
1,500 - 1,815

N/A
340 - 440

N/A
520 - 820

N/A
620 - 700

N/A
N/A

N/A
920 - 1,120

N/A
791 - 1,091

N/A
1,300 - 1,410

N/A
2,260 - 3,450

630 - 700

804 - 1,104

840 - 890

1,180 - 1,540

930 - 1,040

1,137 - 1,437

1,280 - 1,390

1,400 - 1,860

DOMESTIC
z

Apartments, high rise, average standard

- Shell and core

Apartments, high rise, high end

- Shell and core

Terraced houses, average standard

- Shell and core

Detached houses, high end

- Shell and core

OFFICE / COMMERCIAL

Out-of-town shopping centre, average standard

540 - 600

780 - 1,080

750 - 880

1,135 - 1,770

Retail malls, high end

600 - 650

1,029 - 1,329

1,100 - 1,140

1,360 - 2,175

INDUSTRIAL
z

Industrial units, shell only.

(Conventional single storey framed unit)

290 - 320

371 - 671

445 - 455

660 - 810

Owner operated factories, low rise, light

weight industry

320 - 350

505 - 805

490 - 510

N/A

HOTEL
z

Budget hotels - 3-star, mid market

1,100 - 1,300

1,520 - 1,820

1,200 - 1,350

1,630 - 1,995

Business hotels - 4/5-star

1,500 - 1,700

2,144 - 2,444

1,295 - 1,390

2,360 - 4,080

Luxury hotels - 5-star

1,600 - 1,800

2,201 - 2,501

1,600 - 1,670

2,715 - 4,425

OTHERS
z

Underground/basement car parks

(<3 levels)

450 - 550

N/A

500 - 550

970 - 1,025

Multi storey car parks, above ground

(<4 levels)

290 - 320

412 - 712

450 - 500

545 - 670

Schools (primary and secondary)

N/A

603 - 903

680 - 750

1,810 - 1,930

Students' residences

N/A

705 - 1,005

700 - 800

1,080 - 1,150

Sports clubs, multi purpose sports/leisure

(dry sports) with a/c and including FF&E

1,000 - 1,500

1,622 - 1,922

1,200 - 1,450

1,470 - 1,540

General hospitals - public sector

N/A

1,823 - 2,123

1,350 - 1,500

N/A

ASIA CONSTRUCTION COSTS SUMMARY

FOURTH QUARTER 2013

Asia Construction Costs Summary

Building Type
DOMESTIC
Apartments, high rise, average standard

Shell and core

units

excluding

, to apartment units, with air-conditioning, kitchen cabinets and home

appliances, but excluding
Shell and core
units

Apartments, high rise, high end

excluding

, good quality provisions, with air-conditioning, kitchen cabinets and home

appliances, but excluding
Terraced houses, average standard

Shell and core, joined houses in row(s), excluding

, to house interior, with air-conditioning, kitchen cabinets and home appliances,
but excluding
Shell and core, good quality facade, excluding
to house interior

Detached houses, high end

, good quality provisions, with air-conditioning, kitchen cabinets and home

appliances, but excluding

OFFICE / COMMERCIAL
carpet, painted wall and false ceiling
Out-of-town shopping centre, average standard
excluding
Retail malls, high end

INDUSTRIAL
Industrial units, shell only. (Conventional single storey
framed unit)

RC structure with steel roof and M&E to main distribution, but excluding a/c, heating
and lighting
excluding a/c

Owner operated factories, low rise, light weight industry

and heating

HOTEL
Budget hotels - 3-star, mid market
Business hotels - 4/5-star
Luxury hotels - 5-star

1) Interior decoration
2)
3)
4) Operating Supplies and Equipment (OS&E) excluded.

OTHERS
Underground/basement car parks (<3 levels)

RC structure

Multi storey car parks, above ground (<4 levels)

RC structure, natural ventilation, no facade enclosure

Schools (primary and secondary)

excluding educational equipment

Students' residences
Sports clubs, multi purpose sports/leisure centres (dry
sports) with a/c and including FF&E

Dry sports (no swimming pool) and are for 'leisure centre' type schemes including
main sports hall, ancillary sports facilities, changing and showers, restaurant / cafe,
bar, etc. Costs include Furniture, Fittings and Equipment (FF&E)

General hospital - public sector

Excluding medical and operating equipment

Notes:

1.

The costs for

2.

The costs per square metre are based on Construction Floor Areas (CFA) measured to the outside face of the external walls /
external perimeter including lift shafts, stairwells, balconies, plant rooms, water tanks and the like.

3.

All buildings are

4.

The standard for each category of building varies from region to region and do not necessarily follow that of each other.

5.

Shell and core: generally covers ONLY base building elements. Shell refers to overall structure and foundations, exterior walls,
tenant or occupant areas unfurnished.

6.
7.

should complete with all elements that allow the buildings to be ready for operation, including public and tenants
Fluctuation in exchange rates may lead to changes in construction costs expressed in U.S. dollars.

ASIA CONSTRUCTION COSTS SUMMARY

FOURTH QUARTER 2013