It is more important than ever for construction businesses in Singapore to address the ever-persistent industry challenges. One way to do so is to embark on a transformation that many other industries have already partaken in: Digitisation.
Labour shortages, supply chain issues, workplace safety, and rising raw material costs. The challenges of the last few years still plague Singapore’s construction sector without signs of abatement.
The good news is that many construction projects are in the pipeline. Singapore’s Building and Construction Authority (BCA) predicted total construction demand to be roughly $27 billion to $32 billion in 2023. Recently announced mega-infrastructure projects like Changi’s Terminal 5 and Tuas Mega Port are also expected to contribute significantly to the industry’s overall optimistic outlook. This optimism is evident among construction players, where Procore’s How We Build Now 2023 benchmark industry report found that 90% of Singapore’s construction leaders expressed confidence in the industry’s market conditions in the next 12 months.
