Construction activities in Singapore to grow 0.8% this year

It declined 2.8% last year.

RHB expects construction activities to grow 0.8% this year, on the back of a low base effect, ramp-up of ongoing infrastructure projects, and accelerated public civil works as announced in the Budget.

“The sector declined 2.8% in 2016, and would be constrained by sluggish contract awards. Of the contracts awarded in 2016, the majority constitute civil engineering work (S$9.4b), followed by residential (S$6.4b), institutional & others (S$4.4b), industrial (S$3.3b), and commercial (S$2.6b),” noted RHB.

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