THE value of projects under construction in Singapore is expected to be slashed next year, with the biggest impact to be felt in the central business district. The value of construction activity in Singapore is likely to fall 32 per cent to US$17 billion ($24.6 billion) next year from US$25 billion this year, said BCI Asia Construction Information, a construction industry research company that undertook...
Construction
The construction sector in Southeast Asia and Hong Kong is expected to contract by 16 per cent next year, according to a report by regional construction information provider BCI Asia. BCI Asia predicts that in a worst-case scenario, the contraction could be up to 32 per cent. It released a preliminary four-year forecast for the construction markets of Hong Kong, Indonesia, Malaysia, Philippines,...
Singapore’s construction sector looks set to ride out the current economic downturn, thanks to a strong orderbook of projects lasting for at least another year. These projects are expected to be valued at around S$30 billion by the end of 2008. That is 22.4 per cent higher than 2007. But some experts are predicting a prolonged economic slowdown lasting past 2010. This could mean tough times ahead for...
Mah: HDB upgrading a priority as deferred projects reinstated SOME of the Government's $4.7 billion worth of deferred construction projects are to be brought forward again, in a move expected to help smaller local building contractors. And priority will be given to smaller projects, National Development Minister Mah Bow Tan said. "We are also looking to see whether the different ministries are able to...
Two public housing upgrading programmes will be brought forward with other government projects in efforts to increase spending and stimulate the Singapore economy. Singapore previously deferred S$4.7 billion worth of public sector projects due to high construction costs. The Ministry of National Development said now is a good time to do so with material costs looking to fall further. Residents in older...
The Building and Construction Authority (BCA) is launching initiatives to attract locals to join the construction sector and to strengthen skills at all levels of the sector's workforce. These initiatives are part of a masterplan that is being drafted to build a competent, productive and progressive labour force for the local construction industry. Announcing the masterplan on Friday at a BCA Academy...
Construction and property group, Koh Brothers Group Ltd, has won a contract worth S$582 million from the Land Transport Authority (LTA) to build the Downtown Line 1 Bugis station and its associated tunnels. Koh Brothers said this is the single largest contract it has ever clinched. The 4.3-kilometre section of the Downtown Line 1 runs from Bugis station on the East-West Line to Chinatown station on the...
Construction group Yongnam Holdings has won an S$88 million contract to build the Integrated Civic, Cultural, Retail and Entertainment Hub at one-north. The integrated hub is part of a 200-hectare development at Buona Vista known as Vista Xchange. The area aims to integrate living, working, relaxation and learning facilities when fully operational. Under the deal, Yongnam will construct the integrated...
Health Minister Khaw Boon Wan said construction plans for the new Jurong General Hospital have been brought forward to take advantage of softening construction costs. In July, the government has said it is deferring another S$1.7 billion of public sector construction projects to ease pressure on the then red-hot construction sector. More hospital bed spaces are coming on-stream and drugs could get...
CLIMATE change is not the only reason why Singapore is taking a serious interest in sustainable development. The current economic crisis presents a number of challenges - or provides the impetus, some would say - for Singapore's building industry to not only cut cost but also come up with innovative and green-friendly construction practices. To get builders to reduce the impact of building works on the...