Construction demand in Singapore expected to stay strong in 2020

SINGAPORE, Jan 8, Straits Times/ANN - Construction demand is expected to remain strong in 2020 after hitting a five-year high last year, spurred by a sustained recovery in public sector building demand amid economic headwinds and global geopolitical uncertainty.

Total construction demand, which is the value of construction contracts to be awarded, is expected to range between $28 million and $33 million this year, led by public sector building projects including public housing, as well as private sector projects such as the continued redevelopment of en bloc residential sites and berth facilities at Jurong Port and Tanjong Pagar Terminal.

The construction sector accounts for about 4 per cent of Singapore's total gross domestic product.

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