Construction demand in 2022

In 2022, the construction demand in Singapore was projected to be between S$27 billion and S$32 billion. Here are the key points:

- The public sector was expected to contribute about 60% of the total construction demand, with an estimated value between S$16 billion and S$19 billion. This was largely driven by a strong pipeline of public housing projects, healthcare developments, and infrastructure works such as the Cross Island MRT Line (Phase 1).

- The private sector construction demand was expected to reach between S$11 billion and S$13 billion, which was comparable to the volume in 2021. This demand was supported by higher investment sentiments and recovery in the economy, particularly in residential, commercial, and industrial building developments.

The construction industry in 2022 also saw growth due to increased spending on public sector projects, despite challenges such as labor shortages, rising material prices, and supply chain disruptions.