Yes, a hydraulic lifting device can be used as an alternative to a building hoist in certain scenarios. Hydraulic devices offer precise control and smooth operation, which can be advantageous for lifting heavy construction materials. However, it's important to consider the specific requirements of your project, such as the weight and size of the materials to be lifted, the height of the lift, and the frequency of use. Hydraulic systems are generally more expensive and require more maintenance than building hoists, but they can provide greater lifting capacity and versatility. Always ensure that any lifting device used complies with safety standards and regulations.