Amid this construction bedlam, contractors and developers have had problems getting the right talent for the right roles.
According to Ben Butt, director of Facility Media - which is overseeing the Urban Infrastructure Conference to be held in March this year in Hong Kong - the picture is mixed.
"In general, there is enough of a mid-level talent pool in Hong Kong for current and pending construction projects in Kowloon," he says. "At the senior level, there's a lack of professionals with skills in certain areas for specific projects. There are difficulties in finding specialists such as tunnelling engineers for the MTR projects for example.
"But overall, the recruitment picture is positive and there will be an increase in demand across sectors for architects, urban planners, engineering consultants and construction professionals," Butt adds.
Contractors are also casting their nets globally. "Professionals with experience in museum, arts hub, auditorium and theatre projects will have to be recruited from overseas. However, they will need to be able to implement their ideas and experience in the context of Asian culture," he says.
Luckily, there seems to be growing interest among foreign professionals - particularly those from countries beset by financial woes - to find jobs here. "We have seen a rise of about 30 per cent in the number of candidates applying from abroad," Butt notes.
Dee Allan, managing director of pan-Asian construction recruiting giant 3C Synergy, echoes these views, with a slight twist.
"The main challenge is that demand for talent, particularly 'mid-talent', is intense. Hence, candidates are not available for long periods of time in the market and are being `snapped up' often by the highest bidder, which in-turn is driving costs higher for companies," Allan says.
"It's not just a case of 'company versus company', it's also 'country versus country', as neighbouring Asian countries are also searching for the same skill sets for mega-construction projects across