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SINGAPORE: Demand for structure is expected to fall to billions of dollars this year, after COVID-19 hit and stopped projects.
The Building and Construction Authority (BCA) announced Thursday (September 17) that it had reviewed its projected order at between S$18 billion and S$23 billion for the year, below its January forecast from $28 billion to $33 billion.
Last year, the sector recorded $33. 52 billion in contracts.
The downward revision comes after a drop in the sector’s structure call and the allocation of some public sector projects has been postponed from this year to the next, according to BCA.
“Entrepreneurs and suppliers (had) asked for more time to assess the effect of COVID-19 on resource control and allocation implementation times,” BCA said.
This year, the public sector is expected to account for between S$11 billion and S$14 billion of all contracts, up from S$19. 03 billion last year, BCA said in its projections.
The private sector is expected to generate contracts from S$7 billion to S$9 billion, up from S$14. 5 billion reported in 2019.
The structure sector has been hit by COVID-19 and the measures put in place to involve the pandemic.
Singapore imposed a “circuit breaker period” on 7 April to halt COVID-19, the end of all non-essential enterprises. He left the circuit breaker on June 1 and entered phase 2 of his reopening on June 19.
During the circuit breaker, the structure stopped, which affected the synchronization of raw projects and materials.
After the slow resumption of Phase 1 projects of reopening, labour shortages among the migrant employed population remained a problem.
BCA said the call for the structure is expected to be “to some extent” from next year, as a component due to advances in public housing and modernization works.
The firm on the progression of the Jurong Lake District, the structure of new fitness services and infrastructure projects such as Cross Island Line.
In a Facebook post Thursday, National Development Minister Desmond Lee noted that COVID-19 has an effect on the “procedure and construction time” and demanding situations faced by industry players.
“Despite the reboot, he still faces challenges,” Lee said.
“On the plus side, we expect the call to recover to some extent next year, and there will be a portfolio of public sector projects next year,” he said.
He added that BCA and other agencies will continue to provide assistance, adding monetary assistance, to the industry.
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