The Singapore government will implement more measures to stabilise the property market if needed. The assurance came from National Development Minister Mah Bow Tan in Parliament on Friday. Mr Mah said the government will go also go ahead with multi-billion dollars worth of infrastructural projects. Marina Bay, Singapore's new premier business district, is taking shape. So far, the government has...
Public-sector Projects
S$1 billion has been earmarked for greening Singapore's infrastructure over the next five years. Experts said the real challenge lies not in new developments, but in retrofitting existing buildings. Lee Siew Eang, head, Energy Sustainability Unit, School of Design and Environment, National University of Singapore, said: "That forms approximately about 80 per cent of our existing building stocks and these...
Mah provides sneak peek of revived projects to be announced on Budget Day MORE deals up for grabs, less money required upfront and subsidised courses to groom local talent these are some of the initiatives that small-time construction firms can keep their eyes peeled for come Budget Day next week. The sneak peek, provided yesterday by National Development Minister Mah Bow Tan, brought cheer to struggling...
The Singapore government will roll out public sector projects worth up to S$50 million each from the middle of this year. It had earlier deferred projects amounting to S$4.7 billion to ease pressure on the construction sector. The government said the upcoming projects are expected to attract small and medium-sized contractors. National Development Minister Mah Bow Tan said: "The big contractors have...
There are limits to what Govt can and should do, says Minister WHEN it comes to dealing with weak demand in the domestic property market, developers and officialdom may not exactly be on the same page right now. And it couldn’t have been more evident during last night’s 49th anniversary dinner of the Real Estate Developers’ Association of Singapore (Redas). Delivering his prepared speech as...
The Singapore government will not introduce measures to stimulate demand or prop up prices artificially in the property sector. Speaking at an industry event on Wednesday, National Development Minister Mah Bow Tan said such efforts are not sustainable. However, the government will study suggestions by market players on how to help the property sector. Developers are feeling the heat from the economic...
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...
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...