Construction Approvals Grow

GOVERNMENT-approved construction projects soared 84 percent year-on-year through July to US$747.7 million, which officials called the biggest jump since the property market bust three years ago. The number of approved projects for the period reached 1,279, a decline from the 1,344 projects greenlighted in the first seven months of 2010. However, construction during the period last year totalled only $405.8 million, which accounted for the increase in value for 2011.

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