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Demand down, costs up, but builders will rein in bids

Contractors have to fill order books but are unable to pass on additional costs of measures to ensure safe workplace

Published Thu, Jul 2, 2020 · 09:50 PM

Singapore

SINGAPORE contractors are facing a double whammy - plunging demand due to the Covid-19 pandemic while needing to fill their order books but without being able to pass on all the additional costs of measures to ensure a safe working environment.

As such, tender prices for new projects are estimated to rise by as little as 6 per cent as contractors compete to secure new projects, said Cheryl Lum, director, head of research & data, at Turner & Townsend.

"Contractors have to fill up t…