DUBLIN–(BUSINESS WIRE)–The “Construction in Singapore – Key Trends and Opportunities to 2025 (Q2 2021)” report has been added to ResearchAndMarkets.com’s offering.
Singapore’s construction industry is forecast to recover by 30% in 2021, after contracting by 35.9% in 2020. The industry is projected to continue to expand in 2022, registering real growth of 8.1%, and then expand by 3.3% over the remainder of the forecast period (2023-2025).
The government’s programs, which promote the development of affordable housing, transport, and renewable energy infrastructure, are expected to continue to support the expansion of the industry in the coming years.
To support the construction industry’s recovery, in June 2020 the government announced a SGD1.4 billion (US$1.06 million) construction support package, which includes a SGD525.8 million (US$398.8 million) construction restart booster to support construction firms in meeting additional compliance costs due to enhanced social distancing measures.
The government announced an additional fiscal package worth SGD11 billion (US$8.3 billion) in the latest budget released in April 2021. According to the finance minister, around SGD4.8 billion (US$3.6 billion) is meant for public health and safe reopening measures, including vaccinations, contract tracing, and testing capabilities. The government also extended several existing schemes to subsidize wages and provide financing to businesses.
This report provides detailed market analysis, information and insights into Singapore’s construction industry, including:
Scope
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/c8ix5w
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