Construction > Overweight CIMB Research, Jan 4

THE Building and Construction Authority (BCA) projects the value of public sector construction in Singapore to amount to between S$18 billion and S$23 billion a year in 2018-2021, of which half is expected to comprise civil engineering projects.

We estimate this translates into at least S$9 billion worth of civil engineering contracts, exceeding the value awarded in 2017. Upcoming tenders in 2018 include the bulk of the North-South Corridor (NSC) project (worth S$13 billion), which would support public sector construction demand.