The Building and Construction Authority (BCA) in Singapore projects the total construction demand, i.e. the value of construction contracts to be awarded, to range between $34.9 billion to $39.3 billion in nominal terms in 2025, which is between 0.3% to 11.7% higher than pre-Covid levels in 2019.
The strong demand is underpinned by the expected award of contracts for several large-scale developments, such as Changi Airport Terminal 5 (T5) and the expansion of the Marina Bay Sands Integrated Resort, alongside public housing development and upgrading works.
Other contributors include high-specification industrial buildings, educational developments, healthcare facilities, mechanical and engineering contracts for the Thomson-East Coast Line Extension (TEL) and Cross Island Line (CRL), and infrastructure works for the Woodlands Checkpoint extension and the Tuas Port.
| Year | Construction demand: value of contracts awarded (nominal) | Construction output: value of certified progress payments (nominal) |
| 2024 (preliminary) | $32.8 billion | $28.5 billion |
| 2025 (forecast) | $34.9–39.3 billion | $28.9–31.2 billion |
| 2026–2029 (forecast) | $28.9–34.1 billion |
The preliminary total construction demand for 2024 reached $32.8 billion in nominal terms, exceeding BCA’s mid-year revised forecast of between $26 billion to $30 billion. This was mainly attributed to the rolling out of more public institutional projects, as well as public and private housing projects.
Construction demand forecast for 2026 to 2029
Over the medium-term, BCA expects the total construction demand to reach an average of between $28.9 billion and $34.1 billion per year from 2026 to 2029.
The medium-term demand will continue to be supported by developments such as T5, a steady pipeline of public housing developments, MRT projects such as the Cross Island Line (Phase 3) and the Downtown Line Extension to Sungei Kadut, Integrated Waste Management Facility (Phase 2), Tengah General and Community Hospital, Siglap South Integrated Development, Woodlands North Coast industrial estate, redevelopment of various Junior Colleges, commercial building redevelopments, and other urban rejuvenation developments.
While the medium-term construction demand is projected to be robust, the schedules and phasing of projects are subject to change, particularly due to potential unforeseen risks arising from an uncertain global economic climate. Furthermore, as the T5 development is likely to be a one-off exceptional project over the medium term, overall industry demand could eventually moderate after this period.
Construction output
Based on the contracts awarded in the past few years and the construction demand forecast for 2025, the total nominal construction output is projected to increase to between $28.9 billion and $31.2 billion in 2025, up from the preliminary estimate of about $28.5 billion in 2024. The anticipated uptrend is expected to be supported by the increase in actual construction demand over the last few years and the expected increase in 2025 construction demand. Normalized to real values, the total construction output in 2025 is projected to range between $30 billion and $32 billion, which is slightly higher than that in 2019.
Streamlining regulatory processes across multiple agencies
A key component in the transformation of Singapore’s built environment sector is CORENET X, a one-stop digital platform for integrated regulatory submissions for building works.
CORENET X is a co-creation effort between the public agencies and industry to transform the regulatory landscape and practices through process re-engineering and adoption of technologies, redefining the government to business interactions.
Harnessing the power of digitalization and technology, CORENET X will allow ‘Qualified Persons’ (QPs, i.e. professional engineers and registered architects) to submit a three-dimensional model of a development or building created and developed digitally through Building Information Modelling (BIM) to regulatory agencies.
It allows the project team, which includes the QPs, to collaborate and review their designs in the model together, detect possible major conflicts before construction, and produce a coordinated BIM model for submission and regulatory approval. It changes the current practice of QPs dealing separately with multiple regulatory agencies and producing different versions of building plans thereafter.
Developed using an agile approach, CORENET X will be implemented progressively and made available to the industry in phases.
Implementation timeline for CORENET X
| Date | Implementation |
| October 1, 2025 | Mandatory CORENET X submission for all new projects with gross floor area (GFA) ≥ 30,000m2 |
| October 1, 2026 | Mandatory CORENET X submission for all new projects, regardless of GFA |
| October 1, 2027 | Mandatory onboarding to CORENET X for all ongoing projects |