Growth is likely to be supported by a higher number of conservation shophouse transactions, strong government support for tourism and culture as well as the potential for more new and conservation buildings identified for adaptive use.
RHB Bank Singapore analyst Alfie Yeo has initiated a “buy” call on Lum Chang Creations given that the company is seen as a “strong beneficiary” of Singapore’s urban revitalisation specialist (URS) growth.
The industry is forecasted by research and business intelligence services provider, Converging Knowledge, to grow from $380 million - $450 million in 2024 to $470 million - $550 million 2027, representing a compound annual growth rate (CAGR) of 6.76% for the three years.
