The Singapore construction market is projected to grow at a CAGR of 4.20% between 2026 and 2035.
Base Year
Historical Period
Forecast Period
As per the Department of Statistics in Singapore, 33,796 construction contracts were awarded in the public and private sectors in 2023.
As of 2023 15,63,641 total residential dwelling units existed in Singapore, as per the Department of Statistics.
Over 94,000 individuals over the age of 15 were employed in the construction industry in Singapore in the year 2023.
Compound Annual Growth Rate
4.2%
2026-2035
*this image is indicative*
The expansion of the Singapore construction market is propelled by increased demand from the commercial sector, particularly in areas such as healthcare, education, and research.
The commercial sector includes office buildings, stores, hotels, and other structures built for business rather than living in them. Being known as a global financial centre; Singapore has always been demanded to provide top-notch standards of such spaces, especially in prime areas like the Central Business District (CBD). As of January 2024, a subsidiary of Soilbuild Construction Group Ltd. secured a major demolition contract in Tuas located in the West region of Singapore.
Growth in the construction industry in Singapore is led by constant improvements in infrastructure and innovations in projects to modernisation. In August 2022, Singaporean, United Overseas Bank signed a memorandum of understanding with Kimly Construction to digitalise finance processes, which will help with their green projects.
Housing projects such as condominiums, apartments or HDB flats are all part of residential construction which also covers landed homes among others. Singapore is densely populated so there is still an urgent requirement for more houses that can accommodate its citizens and permanent residents alike, going forward housing redevelopment initiatives will drive demand for construction projects.
Singapore Construction Market Report and Forecast 2026-2035 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by End Use
General construction activities such as residential, commercial, institutional and industrial construction projects lead to growth in the construction market in the country. construction of office buildings, retail spaces, hotels, and other commercial facilities is indicative of a significant status of the country as a business hub.
Major market players are expanding their outreach through a rising emphasis on green building and sustainability, urban redevelopment and infrastructure projects and planning for resilience and adaptation to rapidly changing climates.
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The market is projected to grow at a CAGR of 4.20% between 2026 and 2035.
The construction market is categorised into general construction, heavy and civil engineering, and others.
The market key players are Kimly Construction Pte. Ltd., CSC Holdings Limited, Lum Chang Holdings Limited, CPC Construction Pte Ltd., Soilbuild Construction Group Ltd., Woh Hup (Private) Limited, Santarli Construction Pte Ltd., Koh Kock Leong Enterprise Pte Ltd., Jurong Engineering Limited, and LS2 Design & Construction Pte Ltd. among others.
The market is broken down into commercial, residential, industrial, medical, healthcare, education, research and others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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