Special report: Singapore

Construction demand increased by 42 percent in 2021, reaching approximately S$29.9bn. This was largely driven by public residential and infrastructure projects. The overall balance of workload continues to be weighted towards public sector investment brought forward by the government, which contributes about 60 percent of overall workload.

Familiar uncertainties and challenges remain – including ongoing labour shortages and inflation in the cost of materials. Adding to this, the government and businesses will be keeping a close eye on any further Covid-19 developments and the continued rise of oil and gas prices worldwide. These challenges are not going away anytime soon, and now is the time for the construction sector in Singapore to address them by adopting a more collaborative approach.