Land reclamation efforts have proven to bring tremendous economic trade-offs. A study on Hangzhou Bay area in China has shown that their GDP had grown from USD25 billion in 1996 to a USD271 billion in 2016 after coastal reclamation works began in 1985. That’s a staggering 988% increase over just 20 years! The Malaysian government began its land reclamation efforts nearly 50 years ago. Not only are the risks of flood mitigated but it has also given locals a new place to call home & access to important infrastructure and new business opportunities. The first phase of Penang South Islands (PSI) project which is slated to be completed in 2030 is expected to generate GDP contributions & job creations estimated at RM100 billion.

Presently about 40% of world’s population reside within 100 kilometres from the coast. And with global population to hit 9 billion by 2050, governments & developers in cities such as Hong Kong, Manila & Penang are scrambling to create mega projects on reclaimed land to accommodate this rising figure. Massive projects like the Lantau Vision Tomorrow in Hong Kong which would reclaim almost 18km² is expected to cost USD 80 billion and would create land for port facilities & a new airport. The additional land will also provide housing for approximately 400,000 accounting entirely for the housing shortfall, in which applicants are put on a waiting list of 5.8 years on average. The ensuing construction boomwould also mean a spike in economic growth for the country.

Join Trueventus at our 4th Annual Land Reclamation & Coastal Engineering Summit to gain key insights from industry leaders & subject experts on the new technological advances implemented in land reclamation efforts and how to mitigate risks associated with managing, monitoring and delivering projects on time and within budget.