Construction companies need to collaborate and plan better as demand climbs
Poaching and project delays could plague the sector as it faces a greater strain on manpower and resources
STRONG growth in construction demand is expected to further strain demand for manpower and resources.
Without better planning and collaboration among stakeholders, issues such as poaching could become more significant in 2025 and margins could come under pressure.
On Jan 23, the Building and Construction Authority (BCA) said the total value of construction contracts could come up to S$53 billion in nominal terms, almost 20 per cent higher than the S$44.2 billion posted in 2024.
Singapore Contractors Association president Lee Kay Chai noted that the increased demand would suggest that the sector will need 20 per cent more manpower, too.
“We have been pre-empting our members about the surge (in demand that) is going to happen,” Lee said.
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