2015 private construction demand to crash by 37% as developers turn cautious
Amid a slowdown in private home sales and global economic uncertainties.
Private sector construction demand is anticipated to moderate to between $11 billion to $15 billion compared to $18 billion in 2014.
According to a media release by BCA, developers may adopt a cautious stance amid a slowdown in private home sales and global economic uncertainties.
Nevertheless, the slowdown is likely to be cushioned by a rise in private sector civil engineering projects such as the proposed infrastructure works for the development of the Changi East Runway 3.