With millions to billions of dollars involved in every construction development venture, one would assume that builders compete fiercely to secure these projects. That cannot be said about Singaporean constructors that have begun to collaborate with competitors amidst an anticipated growth of the industry.
Data from the “Singapore Construction Industry Databook Series” show that Singapore’s construction industry will grow by 2.1% to reach $36b in 2023. The Building and Construction Authority (BCA), meanwhile, estimates construction demand to range between $27b and $32b.
“Companies are actively exploring collaborations with competitors to risk-share and capitalise on new build projects,” Dennis Lee, partner at RSM Singapore, told Singapore Business Review. “Construction firms have [also] been looking closely at capacity management, reducing down time and working closer with authorities to explore flexibility and efficiency in project planning,” Lee added.
Catching up
Denne historien er fra Issue 104-utgaven av Singapore Business Review.
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Denne historien er fra Issue 104-utgaven av Singapore Business Review.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Income Insurance seeks to fill billion-dollar financing gap in climate transition
The region skimmed its carbon intensity by 2.8%, far below the 17.2% needed.
SIDS fights misconceptions in interior design with accreditation, education
The organisation is setting up a digital platform to speed up accreditation from 6 to 2 months.
IHH's proton therapy takes aim at tumours with precision and low risk
Leaving surrounding organs at risk during cancer treatment might become a thing of the past.
SingPost pivots from mail to logistics as e-commerce demand drives growth
It is banking on e-commerce to drive its logistics unit, which accounts for 69% of revenue.
Singapore needs SEA neighbours to power renewable energy transition
Experts favour Malaysia and Indonesia as renewable energy import sources.
Singapore's architecture blueprint spurs push to tackle brain drain in other sectors
Paying the country's architects just right will hopefully stop the brain drain.
Millionaires eye a piece of Singapore's rich colonial era
The country's remaining 6,500 shophouses are in high demand amongst the ultra-rich.
HDB resale portal unlikely to cut out property agents
The portal enables sellers to list their units themselves.
Factory and retail spaces shine as housing heads for worst market slump in 16 years
Its manufacturing and tourism rebound will spur demand for industrial and high-street shops.
