12 Jan '11, 4am

Singapore construction demand expected to reach S$22b-$28b this year

SINGAPORE: Private construction demand this year may decline from 2010, but government contracts are expected to rise. As a whole, the outlook for construction demand this year continues to be strong. New construction contracts for 2011 should be worth about S$22b to S$28b, according to the Building and Construction Authority (BCA). Buoyed by strong economic growth, Singapore's construction demand grew from S$22.5b in 2009 to S$25.7b to 2010, a 14% growth. For this year, the BCA expects S$12b to S$15b worth of public sector contracts, accounting for 55% of overall construction demand. The Ministry of National Development (MND) says it will continue to support public-sector construction this year. Speaking at an industry seminar on Wednesday, National Development Minister Mah Bow Tan said: "The government will continue to invest in public infrastructure in the year ahead to...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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