Building And Construction In Asia Pacific > Singapore > Singapore
Total construction work done is forecast to rebound 29.7% in 2021 (down from a previous forecast of +31.0%). Work done in Q3 (+96.0% y/y) came in broadly as expected, with Delta coronavirus variant restrictions impeding the progression of work over the quarter. While restrictions were since relaxed, international travel restrictions have been re-imposed in response to the Omicron variant. This will limit work done over the remainder of 2021. We expect momentum to gather over 2022 (+20.0%) as delayed projects proceed and mobility restrictions ease. However, there remains significant downside risks should further restrictions hamper activity.
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