Construction demand hit record last year, set for further growth this year: BCA
Construction demand hit an all-time high last year and could grow further this year.
Contracts for the built environment industry could reach between $31 billion and $38 billion this year, the Building and Construction Authority (BCA) said on Thursday.
This comes on the heels of the record $35.8 billion in deals last year, which trumped official estimates of up to $34 billion.
The bulk of the total construction demand will come from public sector projects, which will account for nearly 60 per cent or between $19 billion and $22 billion.