Construction demand surges on back of massive public infrastructure projects

Construction demand surges on back of massive public infrastructure projects

Strong demand from public infrastructure projects boosted the construction sector’s growth in the first quarter. The construction sector expanded by 6.2% in Q1 picking up from the 4.9% growth recorded in the previous quarter.

This chart from the Ministry of Trade and Industry shows that construction demand in terms of contracts awarded
rebounded in the first quarter, expanding by 4.6%, reversing the 29% fall in the previous quarter.

The improvement was due to an 84% surge in public sector demand which came on the back of the award of major civil
engineering contracts for the Thomson-East Coast Line.

However, private sector contracts awarded remained weak, contracting by 74% in the first quarter, extending the 47% decline in the preceding quarter.

In particular, segments such as private industrial building (-73 per cent), private residential building (-86 per cent) and private commercial building (-60 per cent) developments registered hefty declines in contracts awarded.

 

Construction demand surges on back of massive public infrastructure projects

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