Construction demand could reach $53b in 2025: BCA

This is due to the expected awarding of contracts for large-scale developments.

The Building and Construction Authority (BCA) projects the total construction demand in Singapore to range between $47b and $53b in nominal terms this year.

Normalised to real values, 2025's demand is projected to range between $35b and $39b, which is between 0.3% and 11.7% higher than pre-COVID levels in 2019.

The agency said this is due to the expected awarding of contracts for large-scale developments, such as Changi Airport Terminal 5 and the expansion of the Marina Bay Sands Integrated Resort, alongside public housing development and upgrading works.

In 2024, the preliminary total construction demand reached $44.2b in nominal terms, exceeding BCA's mid-year revised forecast of between $35b to $41b.

Looking ahead, BCA expects the total construction demand to reach an average of between $39b and $46b per year from 2026 to 2029.

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