In our recent article on the exciting state of the local construction sector (Multi-year construction boom fires up investor interest, Issue 1219, Dec 15, 2025), we discussed the infrastructure upcycle that has led to greater investor interest in construction companies. Apart from construction players, companies that supply construction materials, such as steel and concrete, are also major beneficiaries of this upcycle.
According to a Jan 12 Singapore report published by Maybank Securities, Singapore is seeing a robust pipeline of mega projects such as Changi Airport’s Terminal 5, the Tuas Megaport, the North-South Corridor, various new HDB housing developments, the expansion of the two integrated resorts, the Deep Tunnel Sewerage System and even climate-protection projects such as the Long Island off the East Coast. Maybank estimates that these alone could cost more than $100 billion and help sustain construction activities till 2030 and beyond. Naturally, with higher construction demand and activity, building material suppliers will see greater demand as well.
