"Asia needs up to US$ 1 trillion investments in infrastructure each year*”
Singapore’s strategic location at the bottleneck of important trade routes and its economic freedom has created an ecosystem of investors, developers and construction companies. Suitably, Singapore is well positioned to spearhead the need for development in Asia and act as the region’s Infrastructure Hub. This report is a comprehensive analysis of the construction industry in Singapore, highlighting the significance of infrastructure sector to the construction industry. The report also skims through Singapore’s culture, demographics, and political dominance. The current economic scenario, ease of doing business and anti-corrupt policies have also been addressed. As a developed country, Singapore has a saturated stock of transportation systems with its Tuas Megaport and Changi Airport ranking among the best in the world.
A brief overview of the construction and crucial information regarding the main players involved, popular project delivery methods and the performance of the residential and non-residential sector have been discussed. The ease of doing business in Singapore has definitely attracted massive foreign direct investments. Numerous international companies operate their businesses efficiently in this city-state. Up and coming infrastructure projects like the Tuas Megaport, HSR link to Kuala Lumpur, the Deep Tunnel Sewerage Systems are expected to contribute strongly to the pipeline of public projects. The scarcity of labor with tightening immigration policies another aspect that is expected to influence the construction industry. Moreover, the government’s technology-driven approach to transforming construction as a trade is also highlighted. The report concludes with a detailed SWOT analysis of the construction industry and provides important recommendations for new international companies planning to enter the construction market in Singapore.