Construction demand could hit $53b in 2025 on back of housing developments, Changi T5, MBS expansion
Construction demand in Singapore is expected to increase this year, with the value of contracts awarded projected to reach between $47 billion and $53 billion. This is higher than the estimated $44 billion in 2024. The stronger outlook is driven by more housing developments, as well as large-scale projects like Changi Airport Terminal 5 and the expansion of Marina Bay Sands. As demand for construction activities grows, the built environment sector is doubling down on efforts to increase productivity. More than 15 projects have begun piloting collaborative contracting, which aims to deepen coordination between developers, consultants and builders. Alexandra Anand reports.
Construction demand in Singapore is expected to increase this year, with the value of contracts awarded projected to reach between $47 billion and $53 billion. This is higher than the estimated $44 billion in 2024. The stronger outlook is driven by more housing developments, as well as large-scale projects like Changi Airport Terminal 5 and the expansion of Marina Bay Sands. As demand for construction activities grows, the built environment sector is doubling down on efforts to increase productivity. More than 15 projects have begun piloting collaborative contracting, which aims to deepen coordination between developers, consultants and builders. Alexandra Anand reports.