KUALA LUMPUR: The International Construction Week (ICW) and Malaysia International Building and Construction Industry Exhibition (BuildXpo) 2024 achieved a record-breaking projected trade value of RM654.4 million, reflecting a 32 per cent increase from RM494.3 million in 2023.
Organised by the Construction Industry Development Board (CIDB) Malaysia under the Ministry of Works and managed by Qube Integrated Malaysia Sdn Bhd (QUBE), the event brought together nearly 15,000 professionals, policymakers, and innovators, along with 200 exhibitors from 20 countries.
It showcased cutting-edge technologies, including advanced robotics, smart building systems, and 3D printing, cementing Malaysia's role as a hub for construction innovation.
The event also saw the signing of eight Documents of Understanding (DOUs) with partners from Australia, China, Hong Kong, Korea, Norway, and Spain. These agreements, estimated to generate RM20 to RM30 million over three years, focus on technology transfer, advanced training programs, and modern construction methodologies.
Additionally, the International Sourcing Programme (INSP), curated by the Malaysia External Trade Development Corporation (MATRADE) in collaboration with QUBE, recorded RM152.2 million in trade value.
The INSP facilitated 47 targeted business meetings between 22 Malaysian companies and 11 international buyers from eight countries.
Four Letters of Intent from Hong Kong and Australia are currently under negotiation, further reinforcing Malaysia's appeal as a leader in construction innovation.
CIDB Malaysia chairman Haji Yusuf Abd. Wahab said the event stands as a testament to CIDB's relentless drive to elevate Malaysia's construction industry.
"Our record-breaking achievements reflect the growing global recognition of Malaysia's construction capabilities and our firm commitment to innovation," he said.
"Through initiatives like the Construction 4.0 Roadmap and the promotion of Industrialised Building Systems (IBS), CIDB is charting a transformative path for the Malaysian construction sector."