13 Jan '11, 5am

Singapore’s Construction Demand Forecast At S$22B - S$28B For 2011: S$25.7B worth of construction contracts awar...

The construction industry will get busy in 2011, with an estimated S$22 - S$28 billion worth of contracts to be tapped. This is an increase from the S$25.7 billion seen for 2010 - or a 14% growth. Data from the Building and Construction Authority (BCA) yesterday forecast that in 2011: public sector construction contracts will reach S$12 - S$15 billion, due to projects such as the Downtown MRT Line Stage 3 and re-developing Victoria Theatre and Concert Hall private sector construction contracts will reach S$10 - S$13 billion, down from the S$17.4 billion last year due to the more cautious sentiments among developers, especially residential developers, about the economy Office space and the retail sector are likely to drive the demand for private sector commercial construction in 2011. As for construction output, or payment made for construction work done, BCA expects it to ...

Full article: http://www.business.gov.sg/EN/News/20110113ConstructionFo...

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