Construction demand in Singapore strong, set to hit up to S$32b this year: BCA

Singapore

CONSTRUCTION demand is expected to remain strong this year due to sustained public sector contracts, as the industry continues to recover from a challenging three-year spell.

Total construction demand, which is the value of construction contracts to be awarded, is expected to be between S$27 billion and S$32 billion this year, despite additional cooling measures in the private property market and the delay in construction of the high-speed rail between Singapore and Kuala Lumpur last year.

Public construction demand, expected to be between S$16.5 billion and S$19.5 billion this year, is set to make up about 60 per cent of projected demand for the year.

An estimated S$30.5 billion in contracts was awarded last year, according to the Building and Construction Authority (BCA). This is in line with the agency's estimate of between S$26 billio…