Construction companies in Singapore are reportedly suffering due to a combination of factors, including tightening immigration policies, rising interest rates, a weakening economy, and an increasing supply of housing. This has led to significant decline in the construction sector which grew only 1.5% in the previous year, down from 5.2% in 1H 2015. However, a number of public construction projects are to be undertaken in the next five years, which may provide the sector with a much-needed boost, notably Project Jewel and the North-South Highway project.
Construction companies in Singapore are reportedly suffering due to a combination of factors, including tightening immigration policies, rising interest rates, a weakening economy, and an increasing supply of housing. This has led to significant decline in the construction sector which grew only 1.5% in 1H 2015, down from 5.2% in the previous year. However, a number of public construction projects are to be undertaken in the next five years, which may provide the sector with a much-needed boost, notably Project Jewel and the North-South Highway project.