Construction demand in Singapore is projected to hit S$22 billion to S$28 billion this year, as continued workload from last year saw demand reaching s$25.7 billion, up 14 percent from 2009.
Demand from the public sector is expected to be the main factor this year, contributing between S$12 billion and S$15 billion, or about 55 percent of the overall construction demand.
Meanwhile, construction demand from the private sector will likely moderate from 2010’s level of S$17.4 billion, reflecting a cautious sentiment amidst a moderate economic outlook. Demand from this sector is expected to range from S$10 billion to S$13 billion this year.
Particularly, residential construction demand from the private sector is expected to drop to between S$5.1 billion and S$6.1 billion this year, down from 2010’s S$7.7 billion.
Demand from the private commercial sector, on the other hand, is likely to be backed by a vibrant retail sector and buoyant office space demand, while state-of-the-art and high-specification buildings will dominate construction demand from the private industrial sector.