Off the wire
• Riske returns to final at WTA Shenzhen Open  • Morocco eye quarters at 2017 Africa Cup of Nations  • Search for MH370 in "final lap": Malaysian official  • Siniakova knocks out Konta to set up final clash with Riske at Shenzhen  • Websites reprimanded for online news violations  • Interview: Syrian conflict poses uncertainty to Caucasus region -- Azerbaijani analyst  • Lowry's 33 leads Raptors to comeback win over Jazz  • Xinhua China-related world news summary at 0900 GMT, Jan. 6  • Australian surfers to use artificial surf breaks to prepare for Tokyo Olympics  • 1st Ld-Writethru: Chinese shares close lower Friday  
You are here: 　 Home

Singapore's construction sector to remain robust in 2017

Xinhua, January 6, 2017 Adjust font size:

Singapore's construction sector is projected to grow to between 28 billion Singapore dollars (15.77 billion U.S. dollars) to 35 billion Singapore dollars due to stronger demand in public infrastructure projects in 2017, said Singapore Building and Construction Authority (BCA) on Friday.

The projected growth in 2017 is higher than the preliminary estimate of total construction demand last year at 26.1 billion Singapore dollars.

Singapore's construction sector is expected to boost by stronger public sector demand which dominates 70 percent of the total construction projects in 2017.

Public sector construction demand is projected to increase to 20 billion Singapore dollars to 24 billion Singapore dollars this year, up from about 15.8 billion Singapore dollars in 2016, said the BCA.

Various mega infrastructure projects in pipeline this year include the construction of the second phase of the Deep Tunnel Sewerage System, the North-South Corridor express way and the Circle Line Six train system.

Desmond Lee, Senior Minister of State for Home Affairs and National Development said that, a Built Environment cluster sub-committee under the Council for Skills, Innovation and Productivity will also be formed to develop an industry transformation map for the construction sector.

For the year of 2018 and 2019, the agency estimates that public sector construction demand to grow to 26 billion Singapore dollars to 35 billion Singapore dollars.

John Keung, chief executive of BCA noted that although the year-to-year fluctuations in the total value of annual construction demand are influenced by the lumpy nature of major infrastructure projects, the overall construction output is expected to remain at a high level.

"Companies that are prepared to change, innovate and transform to stay at the forefront of technological innovation, process re-engineering and productivity improvement are more likely to sustain their growth and competitiveness despite the headwinds under challenging economic conditions," Keung added. Endit