Strong construction demand this year: BCA
The Building and Construction Authority (BCA) expects strong construction demand between $26 to $32 billion this year, spurred on by large public sector projects. This comes on the back of a strong performance last year of $28.1 billion.
At the BCA-REDAS Property prospects seminar on Wednesday, Senior Minister of State for National Development Mr Lee Yi Shyan noted that the construction sector was having on of its longest growth runs. In the past six years, it had grown about 10 per cent a year.
This year's demand will be fuelled by public housing and the new Thomson MRT Line.
The average construction demand for the next two years is projected to be $20 to $28 billion.