Singapore's building boom projected at 4.8%
This will be for the next three years, thanks to lower interest rates.
According to ICAEW, Singapore’s infrastructure investments are projected to grow by 4.8% over the next three years, as interest rates are at record lows. Cheaper money will allow countries in ASEAN to fund investments in public infrastructure, from transport links to education systems, while low returns in the financial markets are likely to prompt companies to invest in machinery, technology and skills instead.
Here's more from ICAEW:
ICAEW Economic Advisor and Centre for Economics and Business Research's Head of Macroeconomics, Charles Davis, said: “With the availability of cheap money for ASEAN governments, we expect that public investment in needed infrastructure will increase this year.”
Cebr’s forecast for the average infrastructure investment growth between 2012 and 2014 is 5.2% for Thailand, on the back of reconstruction efforts after last year’s floods. Other ASEAN countries are also expected to increase infrastructure spending;, Vietnam by 8.1%, Indonesia by 9.1% (focused on the mining sector and sectors serving household consumption), and Malaysia with 6.8%. Even Singapore, with the lowest infrastructure investment growth in the region, stands at a respectable 4.8%.