Construction demand to reach $28 bln in 2011

Public sector demand for construction is likely to strengthen to between $12 billion and $15 billion.

According to the Building and Construction Authority, the public sector demand for construction will contribute about 55% to the overall construction demand.

Singapore's construction demand increased by 14% y-o-y from $22.5 billion in 2009 to $25.7 billion in 2010. This year, Singapore's construction demand is projected to reach between $22 billion and $28 billion, reflecting a continued and sustained workload.

The rebound in the construction demand is anticipated to mainly come from growth in public sector institutional construction demand as well as stronger public sector civil engineering construction demand led by Land Transport Authority's Downtown MRT Line Stage 3 contracts.