Malaysia’s Construction Industry Achieves Record Trade Value at ICW & BuildXpo 2024

January 8, 2025

USD145 million in projected trade value generated, a 32% increase from the previous year
Showcased cutting-edge technologies and fostered crucial industry connections, reinforcing Malaysia’s position as a leader in sustainable construction innovation.

The International Construction Week (ICW) and Malaysia International Building and Construction Industry Exhibition (BuildXpo) 2024, held from October 22 to 24, 2024 at the Malaysia International Trade and Exhibition Centre (MITEC) in Kuala Lumpur, has reported a significant increase in projected trade value. The event, hosted by the Ministry of Works and organized by the Construction Industry Development Board (CIDB) Malaysia and managed by Qube Integrated Malaysia Sdn Bhd (QUBE), generated USD145 million in projected trade value, marking a 32% increase from the USD110 million recorded in 2023. [1 MYR = 0.222321 USD]

Key Partnerships and Collaborations

The event facilitated several important agreements aimed at advancing Malaysia’s construction sector:

A five-year Building Information Modelling (BIM) Accreditation Collaboration Programme was established between CIDB and Universiti Tun Hussein Onn Malaysia (UTHM).
CIDB’s subsidiary, CIDBEC, partnered with PlanRadar to introduce digital solutions for improving construction efficiency.
A collaboration with Wenma Scaffolding Solutions and Services Malaysia was formed to enhance construction safety and skill development.

A landmark Memorandum of Agreement (MoA) between CIDB and UTHM,witnessed by former CIDB Malaysia Chief Executive, Mohd Zaid Zakaria, launched a five-year Building Information Modelling (BIM) Accreditation Collaboration Programme.

Additionally, eight Documents of Understanding were signed with international partners from Australia, China, Hong Kong, Korea, Norway, and Spain, focusing on technology transfer, training programs, and construction methodologies.

International Sourcing Programme

The event’s International Sourcing Programme (INSP), curated by the Malaysia External Trade Development Corporation (MATRADE) in collaboration with QUBE, generated USD33.8 million in trade value. The program facilitated 47 business meetings between 22 Malaysian firms and 11 international buyers from eight countries.

Technological Innovations

BuildXpo 2024 served as a launchpad for numerous cutting-edge technologies set to reshape the construction landscape. Attendees witnessed firsthand the practical applications of Building Information Modeling (BIM), AI-driven solutions, advanced robotics, drone technology, and smart building systems. The event highlighted how these technologies are actively transforming the industry’s approach to design, construction, and management.

Visitors explore groundbreaking construction innovations, including 3D printing and smart building systems, showcased at ICW & BuildXpo 2024. The event underscored Malaysia’s position as a regional leader in construction technology and innovation.

Global Participation

The exhibition floor featured 200 exhibitors from 20 countries, including China, Spain, Indonesia, Singapore, and Australia, presenting their latest offerings across five strategic clusters: Building, Machinery, Technology, Construction Materials, and Related Services. Beyond the exhibits, BuildXpo 2024 proved to be a vital platform for knowledge sharing and networking. Industry professionals, from contractors and consultants to government representatives and educators, engaged in productive discussions, seminars, and workshops. These sessions addressed pressing industry challenges, including talent attraction, sector modernization, and the implementation of sustainable practices.

Recognition of Excellence

CIDB introduced the QUEST 2024 Awards to recognize achievements in safety, health, quality, and green building practices. The awards included recipients of the Five-Star SCORE Competitiveness Rating.

Ir. Haji Yusuf bin Haji Abd. Wahab, Chairman of CIDB Malaysia, stated, “ICW & BuildXpo 2024 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.”

Zainora Zainal, Chief Executive of CIDB Malaysia, added, “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. ICW & BuildXpo 2024 affirms our strategic vision and underscores the sector’s critical role in driving economic growth.”

Richard Teo, representing Qube, expressed optimism about the future of BuildXpo and the company’s role in exhibition management: “BuildXpo’s consistent growth affirms our commitment to continue this successful collaboration with CIDB, supporting the local construction industry. Looking ahead, we’re excited to expand our portfolio, exploring innovative exhibitions across diverse sectors such as healthcare, business growth, machinery, and media. Our goal is to create tailored events that address the specific needs of each industry, building on the success we’ve achieved with BuildXpo.”

The success of this year’s event has solidified plans for future iterations, with the next edition of ICW & BuildXpo scheduled for October 28 to 30, 2025.

ICW & BuildXpo 2024, held at MITEC from 22 to 24 October 2024, brought together industry leaders, innovators, and professionals from around the world. The event highlighted the latest advancements in construction technology, sustainability practices, and key industry trends, setting the stage for Malaysia’s construction sector to lead the future of the industry.

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