+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Singapore Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q4 2025)

  • PDF Icon

    Report

  • 55 Pages
  • December 2025
  • Region: Singapore
  • GlobalData
  • ID: 5744718
The construction industry in Singapore is estimated to grow by 5.2% in real terms in 2025 and 4.5% in 2026, supported by rising investments in the transport infrastructure and commercial sectors. Growth will also be supported by an increase in construction contracts awarded and progress payments issued. According to the Department of Statistics (DOS), the total value of progress payments issued rose by 7.8% year-on-year (YoY) in January-September 2025, whereas the total value of construction contracts issued grew by 8.3% YoY, during the same period. The industry’s growth in the initial part of the forecast period will also be supported by investments announced as part of the financial year (FY) 2025-26 (April 2025 to March 2026) Budget, announced in February 2025. The budget includes an expenditure of SGD123.8 billion ($93.1 billion), marking a 9.6% increase from FY2024-25 Budget. The latest budget prioritizes infrastructure, social development, and economic resilience. It allocates SGD26.8 billion ($20.3 billion) for development projects and SGD97 billion ($73.4 billion) for operations. In December 2025, the Building and Construction Authority (BCA) had projected that Singapore's total construction demand will average SDG39 billion ($29.5 billion) to SDG46 billion ($34.8 billion) per year from 2026 to 2029.

The construction industry is projected to grow at an average annual rate of 4.1% between 2027 to 2029, supported by investments in transport and energy projects, coupled with government’s target of achieving net-zero emissions by 2050. in July 2025, Singapore’s Long-Term Plan Review (LTPR), led by the Urban Redevelopment Authority, set out a 50-year framework for sustainable growth, focusing on land use, transport, and economic priorities. A major part of the plan is rail expansion, with the Mass Rapid Transit (MRT) network set to grow from 250km to 360km by the 2030s. Growth during the forecast period will also be driven by the Land Transport Authority's (LTA) Land Transport Master Plan 2040. Under the plan, the government plans to invest an estimated amount of SGD34.4 billion ($26 billion) to construct railway stations, transit priority corridors (TPCs), and 700km of cycling paths by 2030, with plans to expand to 1,000km by 2040.

The Construction in Singapore - Key Trends and Opportunities to 2029 (Q4 2025) report provides detailed market analysis, information, and insights into Singapore's construction industry, including:

  • Singapore's construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Singapore's construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Report Scope

This report provides a comprehensive analysis of the construction industry in Singapore. It provides:

  • Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Singapore, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

  • Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts
  • Understand the latest industry and market trends
  • Formulate and validate business strategies using the analyst's critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Table of Contents

1 Executive Summary2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
  • Outlook
  • Latest news and developments
  • Construction Projects Momentum Index
4.2 Commercial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.3 Industrial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.4 Infrastructure Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.5 Energy and Utilities Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.6 Institutional Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.7 Residential Construction
  • Outlook
  • Project analytics
  • Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
  • About the Analyst
  • Contact the Publisher
List of Tables
Table 1: Construction Industry Key Data
Table 2: Singapore, Key Economic Indicators
Table 3: Singapore, Commercial Construction Output by Project Type (Real % Change), 2020-29
Table 4: Singapore, Top Commercial Construction Projects by Value
Table 5: Singapore, Industrial Construction Output by Project Type (Real % Change), 2020-29
Table 6: Singapore, Top Industrial Construction Projects by Value
Table 7: Singapore, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
Table 8: Singapore, Top Infrastructure Construction Projects by Value
Table 9: Singapore, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
Table 10: Singapore, Top Energy and Utilities Construction Projects by Value
Table 11: Singapore, Institutional Construction Output by Project Type (Real % Change), 2020-29
Table 12: Singapore, Top Institutional Construction Projects by Value
Table 13: Singapore, Residential Construction Output by Project Type (Real % Change), 2020-29
Table 14: Singapore, Top Residential Construction Projects by Value
Table 15: Singapore, Key Contractors
Table 16: Singapore, Key Consultants
Table 17: Singapore, Construction Output Value (Real, $ Million)
Table 18: Singapore, Construction Output Value (Nominal, SGD Million)
Table 19: the analyst Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: South and South-East Asia, Construction Output (Real % Change), 2023-29
Figure 2: Singapore, Construction Output by Sector (Real % Change), 2023-25 and 2026-29
Figure 3: Singapore, Risk Summary
Figure 4: Singapore, Risk Regional Comparison
Figure 5: Singapore, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020-29
Figure 6: Singapore, Construction Output Value, by Sector (Real, $ Million), 2020-29
Figure 7: Singapore, Construction Value-add (SGD Million, 2015 Chained Prices)
Figure 8: Singapore, Total Fixed Capital Formation in Construction (2015 Chained Prices, SGD Million)
Figure 9: Singapore, Progress Payments Certified for Construction (SGD Million)
Figure 10: Singapore, Construction Contracts Awarded (SGD Million)
Figure 11: Singapore, Construction Material Market Prices, % Change YoY
Figure 12: Singapore, Cessation of Construction Business Entities
Figure 13: Singapore, Commercial Banks: Loans and Advances to Residents for Construction, End of Period, In SGD Million
Figure 14: Singapore, Changes in Construction Employment, Number, (Compared to Previous Quarter)
Figure 15: Singapore, Construction Projects Momentum Index
Figure 16: South and South-East Asia, Construction Projects Momentum Index
Figure 17: Singapore, Commercial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 18: Singapore, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 19: Singapore, Progress Payment Issued for Commercial Construction (SGD Million)
Figure 20: Singapore, Contracts Issued for Commercial Construction (SGD Million)
Figure 21: Singapore, Retail sales index, Chained Volume Terms, 2017=100
Figure 22: Singapore, Office Price, and Rental Index, 1998=100
Figure 23: Singapore, Supply of Retail Space in the Pipeline, GFA, In Thousand m2
Figure 24: Singapore, Supply of Office Space in the Pipeline, GFA, In Thousand m2
Figure 25: Singapore, Supply of Hotel Rooms in the Pipeline, GFA, In Thousand m2
Figure 26: Singapore, International Visitor Arrivals (In Thousands)
Figure 27: Singapore, Industrial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 28: Singapore, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Singapore, Manufacturing Value-add (SGD Million, 2015 Chained Prices)
Figure 30: Singapore, Contracts Issued for Industrial Construction (SGD Million)
Figure 31: Singapore, Industrial Production Index, 2019=100
Figure 32: Singapore, Purchasing Managers' Index (PMI)
Figure 33: Singapore, Progress Payment Issued for Industrial Construction (SGD Million)
Figure 34: Singapore, Factory Space Supply, % Change YoY
Figure 35: Singapore, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
Figure 36: Singapore, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 37: Singapore, Progress Payments Issued for Civil Engineering Works (SGD Million)
Figure 38: Singapore, Contracts Issued for Civil Engineering (SGD Million)
Figure 39: Singapore, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
Figure 40: Singapore, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 41: Singapore, Electricity Generated, in GWh
Figure 42: Singapore, Total Number of New Grid-Connected Solar PV Installations and Newly-Installed Capacity of Grid-Connected Solar PV Systems (in MWp)
Figure 43: Singapore, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
Figure 44: Singapore, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 45: Singapore, Health and Social Services Value-Add (SGD Million, 2015 Chained Prices)
Figure 46: Singapore, Education services Value-Add (SGD Million, 2015 Chained Prices)
Figure 47: Singapore, Progress Payments for Institutional Construction (SGD Million)
Figure 48: Singapore, Contracts Issued for Institutional Construction (SGD Million)
Figure 49: Singapore, Residential Construction Output by Project Type (Real, $ Million), 2020-29
Figure 50: Singapore, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 51: Singapore, Real estate Value-Add (in SGD Million, 2015 Chained Prices)
Figure 52: Singapore, Progress Payments Issued for Residential Construction (SGD Million)
Figure 53: Singapore, Contracts Issued for Residential Construction (SGD Million)
Figure 54: Singapore, Private Residential Property Price Index (2009=100)
Figure 55: Singapore, GFCF in residential buildings (2015 chained prices, SGD Million)
Figure 56: Singapore, Supply of Private Residential Properties in the Pipeline by Development Status (End of Period), Quarterly
Figure 57: Singapore, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 58: Singapore, Headquarters of Key Consultants (% of Total Project Pipeline)