2020 building demand likely to stay robust after reaching 5-year high last year

Singapore

SINGAPORE construction demand is expected to remain strong this year after hitting a five-year high in 2019, said the Building and Construction Authority (BCA) on Wednesday.

Last year's total construction demand expanded by 9.5 per cent to reach S$33.4 billion - about S$1.4 billion higher than the upper bound of BCA's 2019 forecast of S$27 billion to S$32 billion. The robust showing was mainly due to a stronger than expected increase in industrial construction demand for petrochemical facilities, amid a manufacturing slowdown.