War on Iran: Contractors absorbing higher costs to deliver projects on time, says association
The cost of construction materials is rising amid the Middle East conflict and contractors are reportedly absorbing the increase so they can deliver their projects on time. An industry association says prices are going up by about 20 per cent and expects them to remain high.
Some of its members now foresee up to S$1 million in losses monthly and the sector is hoping for funding to help them cope. Nasyrah Rohim with more.
The cost of construction materials is rising amid the Middle East conflict and contractors are reportedly absorbing the increase so they can deliver their projects on time. An industry association says prices are going up by about 20 per cent and expects them to remain high.
Some of its members now foresee up to S$1 million in losses monthly and the sector is hoping for funding to help them cope. Nasyrah Rohim with more.
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