Construction thrives in Singapore as infrastructure and residential projects surge

The cost of materials, however, is impeding the sector's growth.

Construction activities in Singapore remained strong with increased infrastructure and private residential works.

Data from RICS showed that +8 of survey respondents saw an increase in private residential workloads, whilst +59 saw increased infrastructure work.

Workloads across subcategories like social projects like schools and hospitals, ICT, energy, water and waste, and transport also saw promising growth.

On the other hand, agribusiness and private non-residential workloads, saw negative figures at -17 and -4, respectively.

Meanwhile, 12-month expectations for the construction sector look hopeful as private, non-private and infrastructure expectations remained firmly positive, recording net balances of +12, +4 and +54, respectively.

Cost of materials (+83), increased competition (+79) and skills shortages (+79), however, are holding the sector back.

Looking ahead, RICS highlighted a looming structural challenge for the sector: a shortage of skilled labour.

Across the region, there is a lack of skilled trades (+62), managers (+54) and Quantity Surveyors (+52).

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