Singapore’s construction sector, poised for a 4.1% growth in 2025, is urged to embrace innovation and technology ahead of the anticipated Budget 2025. Vitaly Bereska, Regional Spokesperson of PlanRadar, APAC, emphasises that waiting for government solutions is not viable amidst workforce shortages, rising costs, and global supply chain disruptions.
The 2024 budget introduced energy-efficient grants covering up to 70% of approved equipment costs, with larger projects receiving up to S$530,000. As the industry looks forward to the 2025 budget, Bereska calls for increased funding for digital infrastructure, tax incentives for sustainable materials, and expanded workforce training programmes focusing on advanced technologies. These measures are crucial for meeting Singapore’s 2030 Green Plan goals.
Bereska warns that delaying technology adoption could lead to project overruns and missed opportunities. Technologies like AI and Building Information Modelling (BIM) are already enhancing productivity and sustainability. “Without immediate action, construction firms risk falling behind global competition,” Bereska states.
The sector is encouraged to leverage government incentives for innovation, ensuring it remains competitive and sustainable. As Singapore embarks on major projects like Changi Airport Terminal 5 and the Cross Island MRT Line, the construction industry must act now to secure its future.
