Singapore construction activity to increase in 2017, says BCA
The Building and Construction Authority (BCA) expects the average construction demand in Singapore will be between $26.0 billion and $35.0 billion per annum in 2018 and 2019 and between $26.0 billion and $37.0 billion per annum in 2020 and 2021.
BCA estimates public sector construction demand to be between $18.0 billion to $23.0 billion per annum from 2018 to 2021, with similar proportions of demand coming from building projects and civil engineering works. Besides public housing developments
and more healthcare and educational facilities, public sector demand over the mediummterm will be supported by various upcoming mega infrastructure projects such as the Jurong Regional Line, Cross Island Line, and various infrastructure developments for
Changi Airport Terminal 5.
“Although the year-to-year fluctuations in the total value of annual construction demand are influenced by the lumpy nature of major infrastructure projects, the overall on-site construction activities or construction output is expected to stay at a relatively high level. The overall construction demand prospects over the medium term as well as the long term will continue to be bolstered by a strong pipeline of public sector construction projects.
Companies that are prepared to change, innovate and transform to stay at the forefront of technological innovation, process re-engineering and productivity improvement are more likely to sustain their growth and competitiveness despite the headwinds under challenging economic conditions,” said Dr John Keung, CEO of BCA.