Budget 2021: Scheme in offing to transform construction, real estate value chain

The Growth and Transformation Scheme for the sector will require developers to work closely with their consultants, contractors and suppliers to level up as an ecosystem or value chain.
The Growth and Transformation Scheme for the sector will require developers to work closely with their consultants, contractors and suppliers to level up as an ecosystem or value chain.ST PHOTO: LIM YAOHUI

SINGAPORE - The Government will launch the Growth and Transformation Scheme (GTS) to digitalise processes and upskill workers through the entire value chain of the Built Environment sector that encompasses the construction, real estate and environment and facility services businesses.

The GTS for the Built Environment sector will require developers to work closely with their consultants, contractors and suppliers to level up as an ecosystem or value chain, Deputy Prime Minister Heng Swee Keat said on Tuesday (Feb 16).

The Ministry of National Development will give further details of the scheme during the debate on its budget.

He noted that since the launch of the Construction Industry Transformation Map in 2017, the Government has made a big push to drive transformation in the Built Environment sector and companies have adopted new ways of doing things, such as Design for Manufacturing and Assembly and Building Information Modelling.

However, Mr Heng stressed that the sector can do better, especially after the shock of the Covid-19 pandemic.

"This sector has just experienced an existential threat last year, and is recovering. Developers, consultants and contractors now realise the urgency to radically improve productivity and reduce the reliance on labour-intensive methods," he said.

While the Government will continue to support the sector's recovery, the focus of the support will tilt to enable the sector to transform decisively, he said.

"Our resolve in achieving transformation of the industry is clear and unwavering."

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