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Demand down, costs up, but builders will rein in bids

Contractors have to fill order books but are unable to pass on additional costs of measures to ensure safe workplace

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Tender prices for new projects are estimated to rise by as little as 6 per cent as contractors compete to secure new projects, say consultants.

Singapore

SINGAPORE contractors are facing a double whammy – plunging demand due to the Covid-19 pandemic while needing to fill their order books but without being able to pass on all the additional costs of measures to ensure a safe working environment.

As such, tender prices for...

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