National Development Minister Mah Bow Tan said the Housing and Development Board (HDB) is containing construction costs as much as it could even though they have gone up significantly recently. HDB is doing this by simplifying some of the projects or by combining them so that there are more economies of scale. A recent example is the Punggol Sapphire project which has more than a thousand units against...
Construction Costs
Trade and Industry Minister Lim Hng Kiang has urged developers and contractors not to price in expectations of increases in costs into their tenders for projects. Speaking to reporters on the sideline of a groundbreaking ceremony on Friday, he said that the government would continue to manage the increase in cost of steel and other materials and try to mitigate the impact of higher costs. He said: “The...