BCA projects Singapore construction demand in 2023 to hit S$27-32b, with public sector leading the way

THE value of construction contracts to be awarded in 2023 is projected to range between S$27 billion and S$32 billion this year, Singapore’s Building and Construction Authority (BCA) said on Thursday (Jan 12).

Analysts are also positive on the sector, even as it continues to face manpower constraints and disruptions from safety incidents.

This predicted range is the same as the year before, with 60 per cent of construction demand expected to come from the public sector, which BCA estimates will contribute between S$16 billion and S$19 billion.