Singapore construction, consultancy firms getting higher number of overseas projects

Singapore contractors and consultants are getting an increasing number of overseas projects, according to the latest figures of the Construction Export Survey, 2016. The total number of overseas project rose to 594 in 2015, up from 289 in 2014. The survey was conducted by Building and Construction Authority (BCA) of Singapore.

The survey included more than 1,400 Singapore construction and consultancy firms.

construction companies of Singapore
The construction companies of Singapore mostly expanded to countries like India, Malaysia, Myanmar, Thailand, Indonesia and United Arab Emirates. Photo courtesy: bca.gov.sg

The increase in construction projects outside of Singapore showed a phenomenal tripling from just 47 in 2014 to 152 in 2015, while overseas consultancy projects rose from 242 in 2014 to 442 in 2015.

The construction companies of Singapore mostly expanded to regional countries such as India, Malaysia, Myanmar, Thailand and Indonesia, as well as the United Arab Emirates.

The majority of overseas construction projects involved renovation and interior works (41 per cent) and building construction works in the residential and hospitality sectors (12 per cent).

In addition to this, Singapore consultancy firms were mostly active in China, India, Cambodia, Indonesia, Malaysia, Myanmar and Vietnam. Demand for consultancy services was strongest in architectural and civil and structural works.

The survey noted, “The rise in new consultancy services indicates a shift in demand in the international markets and that Singapore consultancy firms are adapting to evolving international market demands and have positioned their services accordingly.”

The survey also revealed that the number of contractors and consultancy firms going overseas and expanding their international outreach has also increased. In 2015, 38 construction firms had established international operations compared with 22 in 2014. This compares with 62 consultancy firms that had ventured abroad, compared with 26 in 2014.

Despite the increased number of projects secured overseas, however, the total value of overseas contracts remained stable, at SGD1.74 billion in 2015.

This indicates that the projects secured in 2015 were mainly of smaller value than those in 2014, said the BCA.