Posted on 08 Jan 2015
Construction contracts for the built environment sector are expected to reach between $29 billion to $36 billion this year, fuelled by a healthy pipeline of public sector projects, the Building and Construction Authority (BCA) said on Thursday.
This is down from last year's record high of $37.7 billion total construction projects.
Public sector projects will account for about 60 per cent or up to $21 billion of construction demand this year, which is higher than it has been in the past five years.
Meanwhile, private sector demand is expected to moderate between $11 billion and $15 billion this year, down from $18 billion last year as developers remain cautious amid a slowdown in private home sales and global economic uncertainties, said the BCA.
