- Singapore’s construction sector is entering a new growth phase, underpinned by major infrastructure projects such as Changi T5 (S$5.75b in awarded contracts), Tuas Mega Port, and the Marina Bay Sands expansion. Falling material and labour costs are easing margin pressures, improving the profitability outlook for contractors.
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Construction players poised to benefit from major infrastructure pipeline.
- The continuous investment in large-scale projects like the T5 expansion (S$4.75b out of total estimated S$12.5b awarded), Tuas Mega Port (S$20b investment), and Marina Bay Sands integrated resort expansion (around S$10.4b investment) provides a steady stream of high-value projects that Singapore companies can bid for or participate in via JVs.
Changi Airport Terminal 5 (T5) contract awards mark key infrastructure milestone.
- Changi Airport Group recently awarded S$5.75b in contracts for T5 —
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- a S$3.8b substructure package to a China Communications Construction Company –Obayashi JV for the terminal and ground transport centre, and
- a S$950m airside infrastructure package to Hwa Seng Builder for remote stands, taxilanes and support facilities.
Sustainability a key focus.
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