Royal Deluxe Holding Limited (Royal Deluxe, and together with its subsidiaries, the Group; HKG: 3789), Hong Kong’s first formwork erection and related ancillary services provider holding more than 10 formwork patents, is pleased to announce that its wholly-owned subsidiary Ming Tai Construction Engineering Company Limited (Ming Tai) has been awarded the formwork works projects and Related Works of the Hong Kong International Airport Tunnel Structure, and also that for Traditional Formwork, System Formwork and Installation of Precast Façade for Construction of Public Housing Development at Tung Chung Area 103, together worth approximately HK$373 million.
Rooted in Hong Kong for more than 28 years, the Group prides rich experience in formwork erection of reinforced concrete structures and a solid business foundation. Over the years, it has undertaken a good number of large-scale infrastructure projects, including structural engineering projects for the Hong Kong International Airport concourse of the three-runway system, works in relation to stations and tunnels of the Kowloon City Section (Song Wong Toi and To Kwa Wan Station) of the MTR Shatin to Central Link, West Kowloon Terminus of the Guangzhou-Shenzhen-Hong Kong High Speed Rail (southern section), the visual culture museum M+ in West Kowloon Cultural District, and AsiaWorld-Expo, etc. Obtaining the new projects is further proof of the Group’s professional competence in undertaking large-scale integrated construction projects, as well as the government’s high recognition for the safe, environmentally friendly and cost-effective construction solutions of the Group, again affirming its technical strengths.
Over the years, the Group has kept innovating and pursuing actively research and development of innovative moulds. It has developed constructional aluminium tableform, building construction systems formwork and coding processing systems, leading development of the industry. According to the “Construction Expenditure Forecast” issued by the Construction Industry Council in July 2023, the total construction expenditure of the local construction industry is estimated at between HK$240 billion to HK$375 billion a year in the next decade. That speaks clearly to the huge potential of the market, meaning the Group will have vast room for future development. Thus, the Group will continue to reinforce its foundation, improve construction techniques and seize market opportunities to promote sustainable development and create greater value for all stakeholders.
As at 31 March 2023, the Group had 10 projects on hand and the total outstanding value in FY2023 was estimated at approximately HK$445 million. In FY2023, the Group won five new contracts with total value of approximately HK$184 million, about 21.3% more than in FY2022.