At least $8 billion in contracts has yet to be awarded for the construction of the Changi Airport T5 main terminal buildings, according to Ong and Then. This will be split into three packages.
With the Building and Construction Authority’s construction demand forecast at $47 billion to $53 billion in 2026, CGS International analysts Natalie Ong and Then Wan Lin see “two consecutive years of strong contract awards” in 2025 and 2026, followed by “four years of elevated construction awards”.
In a Jan 23 research note, the CGSI analysts estimate that $13 billion in contracts for Changi Airport Terminal 5 (T5) and Marina Bay Sands Integrated Resort 2 (MBS IR2) will be awarded over 2026 and 2027.
