Construction demand for 2012 to remain strong

Despite the subdued economic backdrop, the Building and Construction Authority (BCA) expects overall construction demand to remain strong, from between S$21 billion and S$27 billion for 2012.

Minister of State for National Development, Tan Chuan-Jin said although this projection is lower than the 2011 construction demand, Singapore will continue to see a high level of on-site construction activity this year.

This is due to a combination of the volume of contracts awarded in the last two years and the on-going construction of major civil engineering projects such as the Downtown Line.

He said the BCA estimates contracts worth between S$19 billion and S$27 billion will be awarded annually in 2013 and 2014.

Mr Tan was speaking at the Construction and Property Prospects 2012 seminar organised by BCA and the Real Estate Developers Association of Singapore.

He said the healthy outlook of the construction industry over the next three years was also an excellent opportunity for the sector to enhance productivity and achieve more sustainable growth.

Mr Tan said: “The construction industry is like a huge tanker. The Government, together with the industry and the workforce, are all partners on the same ship. We will need all hands on deck to steer this tanker and working closely together to maintain an upward spiral of productivity gains to propel the industry to a higher level. Some of you have already embarked on this productivity journey and would have realised that to achieve higher productivity, we need more than just a change of hardware.”

He added that the way forward is to change the mindsets across the entire organisation from CEO to site worker.

Source : Channel NewsAsia – 11 Jan 2012

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