Normalised to real values, the demand in 2025 is estimated to range between $35 billion and $39 billion, which is between 0.3% to 11.7% higher than pre-Covid levels in 2019. There were no equivalent estimates released in 2024, BCA added.
With construction demand “bursting out of our ears”, maximising resources to meet this demand will be the real differentiator among firms, says Song Seng Wun, economic advisor at CGS International Securities Singapore (CGS SG).
In January, the Building and Construction Authority (BCA) projected that total construction demand in 2025 would range between $47 billion and $53 billion in nominal terms, 46.88% or 39.47% higher than 2024’s range of $32 billion and $38 billion.
