Public infrastructure projects to prop up construction sector in 2015

$29b to $36b worth of contracts will be awarded.

The construction sector can rely on public infrastructure projects to keep demand flowing this year, the Building and Construction Authority said today.

In a speech at the BCA-REDAS Built Environment & Property Prospects Seminar 2015, Senior Minister of State for National Development Lee Yi Shyan said that construction demand momentum will be maintained with an estimated range of $29 billion to $36 billion worth of contracts to be awarded.

This figure is marginally lower than the $38 billion worth of contracts that was awarded in 2014.

“Construction demand over the next five years will remain strong. BCA expects contract values to range from between $26 billion and $37 billion per year. Major healthcare and infrastructure works, such as the remaining contracts for the upcoming MRT lines and Changi Airport Terminal 5 provide support for the industry demand,” he said.