by jbs011910 d3 — January 20, 2010—Singapore’s construction demand for 2010 is projected to reach between $21 billion and $27 billion, according to the country’s Building and Construction Authority (BCA). This is a continuation of a sustained workload from last year’s $21 billion worth of contracts awarded.
The bulk of this year’s demand will come from the public sector, which is projected to form 65 percent of total demand. It is expected to range between $14 billion and $17.9 billion and will largely be fueled by higher growths in most categories of building construction demand and strong civil engineering projects, according to BCA.
Private sector construction demand is expected to be slightly more upbeat than the preceding year, amounting to between $7.0 billion and $9.1 billion. The anticipated higher construction demand for commercial and institutional developments compared to a year ago will provide further support to the overall private sector construction demand, notes BCA.
Looking farther ahead, BCA predicts public sector construction demand will reach between $10 billion and $14 billion a year in 2011 to 2012, with 45 percent coming from building projects while the remaining 55 percent is driven by civil engineering projects.
In 2009, the total construction output (payment made for work done) in Singapore is estimated to have reached a record high of about $30 billion, supported by the exceptionally high level of construction demand (value of contracts awarded) in 2008, notes BCA. The level of on-site construction activity or output is anticipated to gradually reduce to between $27 billion and $29 billion in 2010 and to moderate further in 2011-12.
Nevertheless, the strong civil engineering construction demand as well as the demand for more green professionals will continue to provide new job opportunities in the construction industry over the next few years, says BCA.
