Domestic construction demand is expected to reach close to S$30b this year compared to S$17b in 2006. But National Development Minister Mah Bow Tan warned the industry is expected to see a slowdown with the current economic situation. Mr Mah was speaking at the Singapore Contractors Association's 71st Annual Dinner. He said that if the need arises, the government will restart some of the deferred public...
Construction
THE $10.47-million contract for Singapore’s first zero-energy building has been awarded to local firm ACP Construction. Work to retrofit an existing building at the BCA Academy along Braddell Road starts this month and should be completed by next year. As announced earlier, everything in the building, from the lights and air-conditioning, to the water in the toilets, will be sourced from renewable...
Sales of private homes by Singapore developers dropped by 56 per cent for the year ended June 30, with only about 7,200 units being sold. However, Real Estate Developers' Association of Singapore (REDAS) believes private home prices will not drop sharply this year, despite the tight credit market and economic slowdown. President of REDAS, Simon Cheong, said: "If it drops, it will not be much more. This...
The construction sector has been a pillar of Singapore's economy over the past two years, supporting it with on-year growth of close to 20 per cent every quarter. But the sector's pace of growth has slowed from the 24 per cent rate seen in the fourth quarter of last year to below the 20 per cent mark for the first three months of 2008. Analysts said they expect the sector to continue slowing over the...
Mainboard-listed construction firm Chip Eng Seng has won a S$156 million contract to design and build residential units in Punggol West for the Housing and Development Board (HDB). The deal includes the construction of a car park and community facilities. Construction is expected to begin in April next year, pending HDB approval, and is estimated to take 30 months to complete. This is the third...
Homegrown construction group Lian Beng has clinched a contract worth S$99.5 million to build a high-end residential project at Cairnhill Road. Lian Beng will build The Ritz-Carlton Residences through its Millennium International Builders unit. The deal was awarded by Royce Properties, a subsidiary of Hayden Properties. The project is the first luxury condominium project to be launched by The...
S’pore contractor is happy concocting his own brews For small-time contractor Ernest Ng, the recent property boom largely passed him by. High material costs and the difficulty in getting skilled labour has made him reconsider the wisdom of staying on in the business. “The Government has said that the construction industry will be one of the sectors that will remain buoyant. But for small timers like...
Building government projects at a later time may cost more if prices of materials continue to rise. However, National Development Minister Mah Bow Tan said that is a calculated risk the government has to take. To cool the market, the government is deferring a total of about S$4.7 billion worth of public sector construction projects to 2010 and beyond. Construction is one of the hottest industries in...
Singapore's Gardens by the Bay project is on track for completion by the end of 2010. National Development Minister Mah Bow Tan said the project is unaffected by the government's recent decision to defer S$1.7 billion worth of public-sector building projects – a move meant to ease the pressure on the construction industry in Singapore. Mr Mah was speaking to the media at the official opening of the...
The government has decided to postpone an additional S$1.7 billion worth of public sector projects to further ease pressure on construction resources in Singapore. The government had earlier announced that it would postpone about S$3 billion worth of public sector projects to after 2009. With the latest decision, the government is deferring a total of about S$4.7 billion worth of public sector...