DUBLIN–(BUSINESS WIRE)–The “Singapore Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026” report has been added to ResearchAndMarkets.com’s offering.
Globaldata has revised upward its estimation of the growth of Singapore’s construction industry in 2022 – with the industry now expected to expand by 5.1% in real terms this year, compared to an earlier estimate of a 3.5% growth.
This upward revision is attributed to the resumption of all major infrastructure projects that were halted in the last two years due to the pandemic. According to the Department of Statistics (DOS), the construction industry’s value add rose by 5.2% year on year (YoY) in the first three quarters of 2022, owing to improving economic conditions and an increase in construction output in both the public and private sector.
The construction industry is expected to register an annual average growth rate of 4.4% from 2023 to 2026, supported by investment on transport, electricity, water and sewage, and housing infrastructure projects.
As part of the 2022 Budget, the government announced it plans to issue approximately SGD35 billion ($25.5 billion) in green bonds by 2030 to fund public-sector green infrastructure projects. In November 2022, the Housing and Development Board (HDB) reported that it had completed the construction on 9,655 Build-To-Order (BTO) flats in the first ten months of 2022.
The HDB also reported that all the BTO projects that were delayed due to the pandemic will be completed within the next two-to-three years. Depending on demand, the HDB plans to build 100,000 HDB flats from 2021 to 2025, including 23,000 flats each in 2022 and 2023.
Scope
Reasons to Buy
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/p3viyj
Source: GlobalData
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