2021 construction demand forecast to recover, but shadow of manpower crunch remains
TOTAL construction demand is projected to recover to between S$23 billion and S$28 billion this year, and industry players are mixed on whether they have the capacity to cope with the rising demand, given manpower issues.
Allan Tan, managing director of United Tec Construction, said while the forecasts are an encouraging sign for the industry, he noted that there are still many risks and uncertainties.
"The labour crunch is still very bad, (and) import cases are still high," he said, adding that with the Covid-19 cases in China and Malaysia - two main sources in the supply chain - getting worse, this will affect the capabilities of companies.
He added: "Vaccine outcomes are (also) yet to be certain. With all these factor…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sunak says UK to raise defence spending amid global threats
China’s central bank hints it may add treasury bond trades to policy toolkit
US business activity cools in April; inflation measures mixed
India’s inflation at risk from extreme weather, geopolitical issues: central bank
Thailand to replace military-appointed Senate, reduce its powers
Bankers lose hope of London IPO revival for another year