"Singapore Infrastructure Report Q2 2015" now available at Fast Market Research
New Construction research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Tue Feb 10 2015] We continue to expect construction and infrastructure growth in Singapore to moderate over the 2015-2020 period. Real growth for the construction sector is forecasted to moderate slightly from 4.0% in 2015 to 3.9% in 2020, while real growth for the infrastructure sector is expected to fall from 7.0% in 2015 to 6.2% in 2020. This moderation is primarily due to declining housing demand, longer construction periods for planned infrastructure projects and a poor export outlook, which could curb investment in non-residential buildings.
Key Trends And Developments
* In January 2015, Senior Minister of State For National Development Lee Yi Shyan announced that the Building and Construction Authority (BCA) estimates that between SGD29bn and USD36bn worth of construction projects will be awarded in 2015. While the BCA expects this to maintain momentum in the construction sector, the estimate is notably below the SGD38bn figure seen in 2014.
* The BCA projects that the private sector's contribution to the construction sector will retreat to between SGD11-15bn in 2015, with the public sector contributing between SGD18bn and SGD21bn, or approximately 60 percent. In particular, private residential construction looks to be in for a weak performance, as slipping real estate prices and high levels of supply begin to weigh. In line with our Country Risk team's expectations for an ongoing correction in the market as interest rates begin to rise over the coming quarters, we believe that this trend will likely remain in play throughout the entirety of 2015.
* In December 2014, Jewel Changi Airport Trustee (JCAT) started building a mixed-use complex, called Jewel Changi Airport, which will be developed in front of the Changi Airport's Terminal 1 in Singapore. JCAT is a joint venture (JV) between Changi Airport Group and CapitaMalls Asia. The project will comprise hotel, retail offerings and facilities for airport operations. The complex will have five floors above...
The Singapore Infrastructure Report features Business Monitor International (BMI)'s market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.
BMI's Singapore Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Singaporean infrastructure and construction industry.
Key Benefits
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