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Singapore Building & Construction Industry News


Fund to boost innovation in construction sector

More help is on the way for the construction sector, which has been struggling amid a slow property market and economic uncertainty. A $150 million Public Sector Construction Productivity Fund will be set up to allow government agencies to procure innovative and productive building solutions to help develop capabilities in the sector. The fund will allow these solutions to enter and gain traction in the market, said Finance Minister Heng Swee Keat yesterday, adding that these solutions may have ...more

OKP's Q4 earnings quadruple to S$8m

Singapore OKP Holdings' fourth-quarter net profit more than quadrupled thanks to higher revenue, better gross profit margin and improved contributions from associates and joint ventures. For the three months ended Dec 31, 2016, the infrastructure and civil engineering group chalked up earnings of S$8.02 million, against S$1.93 million for the previous corresponding period. This translated to earnings per share of 2.6 Singapore cents, up from 0.63 cent a year ago. Revenue in Q4 surged 40.6 per ce ...more

Master developer? Not a big leap for S'pore players

A master developer model for new districts would be a boon for the real estate sector here, analysts said. Large players with overseas experience in project development would be well suited to taking part. Recommending such a private-public partnership model, the Committee on the Future Economy has said that greater flexibility in land use should also be allowed. This could see developers taking charge of much larger sites and having a freer hand in land zoning, which would allow them to take a ...more

Chip Eng Seng flags better local housing vibes

Singapore CONSTRUCTION and property development group Chip Eng Seng flagged improved sentiment in the Singapore residential property market to explain why it was launching its latest condominium project. The results of new residential property launches in H2 2016 were more encouraging than H1 2016, it said. The firm will be leveraging on this improved sentiment for its latest 720-unit Grandeur Park Residences development in Tanah Merah, which goes on sale in early March. It noted that its High P ...more

CapitaLand Q4 net profit surges 73.8%

Developer CapitaLand ended last year on a high note, with a sharp spike in fourth-quarter net profit, driven partly by a better operating performance. Net profit surged 73.8 per cent to $430.5 million for the three months ended Dec 31, the company reported yesterday. Higher fair value gains on the revaluation of investment properties and lower impairments also pushed quarterly earnings higher. Fourth-quarter revenue rose 6.5 per cent year on year to $1.85 billion, thanks to higher rental i ...more

Building up new capabilities to change construction industry

Q What is the firm's core business? A The company started out as a sole proprietor in 1989. It has since grown and now employs 32 staff. We are in the business of land surveying, serving the construction and building industries. Our clients are mostly piling and building contractors, developers, architects and consultants. Part of our work involves setting out reference points that indicate piling positions at work sites. These points, which are marked out according to various coordinates, guide ...more

Efforts to elevate lift technician sector

A new committee will look at higher wages and better career progression for lift technicians to attract more people into the industry. It is part of the Building and Construction Authority's (BCA) ongoing effort to get about 1,000 more technicians - from the current 2,000 - over the next three years. It's a stretch target, but with this additional effort, it is possible, BCA chief executive John Keung told reporters after a ceremony for 108 Institute of Technical Education (ITE) scholarship reci ...more

China Construction tops bids for West Coast Vale site

Singapore CHINA Construction (South Pacific) Development Co has pipped compatriot MCC Land to place the top bid for a private housing site at a state tender that closed on Thursday. The tender for the 1.64-hectare site along West Coast Vale, drew nine bids, reflecting developers' continuing appetite for land and confidence that the market will improve. The Urban Redevelopment Authority (URA) has stipulated a maximum of 520 residential units for the development on the 99-year leasehold plot. Chin ...more