Singapore Public infrastructure projects to prop up construction sector in 2015
The construction sector can rely on public infrastructure projects to keep demand flowing this year, the Building and Construction Authority said today.
In a speech at the BCA-REDAS Built Environment & Property Prospects Seminar 2015, Senior Minister of State for National Development Lee Yi Shyan said that construction demand momentum will be maintained with an estimated range of $29 billion to $36 billion worth of contracts to be awarded.
This figure is marginally lower than the $38 billion worth of contracts that was awarded in 2014.
“Construction demand over the next five years will remain strong. BCA expects contract values to range from between $26 billion and $37 billion per year. Major healthcare and infrastructure works, such as the remaining contracts for the upcoming MRT lines and Changi Airport Terminal 5 provide support for the industry demand,” he said.