What is the current construction demand in Singapore real estate

Singapore's construction demand is projected to remain robust in 2025, with expected contract values ranging between 47 and 53 billion Singapore dollars. This high level of demand is driven by several major public sector infrastructure projects, including the continued expansion of Changi Airport Terminal 5, the Cross Island Line, and the Tuas Mega Port.

Key drivers for 2025 include:

- Strong public sector investments in transport infrastructure, new healthcare and education facilities, as well as large-scale redevelopment initiatives.
- The residential sector will see steady activity, including the launch of approximately 19,600 new HDB Build-To-Order flats and several Executive Condominium sites to meet housing needs.
- In the private sector, land sales and new development launches continue, although developers are proceeding cautiously amid tighter property cooling measures introduced in recent years.

The Building and Construction Authority projects that institutional and other building construction will constitute a significant portion, alongside civil engineering works, particularly mechanical and electrical contracts for new MRT stations and road projects.

Singapore's construction output is expected to rise, supported by the momentum of recently awarded contracts and the pipeline of infrastructure megaprojects. However, the actual pace and volume of construction may be affected by global economic uncertainties and the phased implementation of very large projects. The industry is also continuing to transform, with emphasis on digitalisation and productivity through platforms such as CORENET X.

Overall, Singapore's construction sector is set for sustained growth in 2025, positioning the nation as a leader in advanced and resilient urban development.