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6SmartGreenAndGrowingSingaporesUrbanDevelopmentLandscapeSingaporesconstructionandurbanplanningsectorisembodiedbyitsforward-thinkingapproachcommitmenttoexcellenceandstrengthofcharacterAfterallitwasjustseveralyearsagothatconstructionwasamongournationsworst-hitindustriesduringthepandemicduetolabourshortagesandsupplychaindisruptionsButithassinceralliedbackgrowingfromstrengthtostrengthFromtheadoptionofcutting-edgetechnologieslikeBuildingInformationModelling(BIM)andsmartconstructionmethodstotheintegrationofsustainablepracticesthatminimiseenvironmentalimpacttheindustryissettingbenchmarksthatresonategloballyInrecentyearsthepushtowardscreatingsmarterandgreenerspaceshasbecomemorepronouncedaligningwithourcountrysvisionofbecomingaSmartNationCruciallytherearepresentlyover18000enterprisesinSingaporecontributingtoitspublicandprivateinfrastructureprojectsAsSingaporecontinuestogrowanddeveloptheemphasisonsustainabilityinnovationandsmart technologies willbe thecornerstoneofoursectorsongoingevolutionensuringourislandremainsagloballeaderinurbandevelopmentHigh-RiseProjectionsonTheHorizonOnayear-on-yearbasisSingaporesbuiltenvironmentcontributestoabout3%to5%ofSingaporestotalgrossdomesticproduct(GDP)makingitintegraltoournationandeconomyThispositivesentimenttowardstheindustrysresurgenceisbuiltonreal-worldnumbersandgrowthasdemandintheconstructionindustryhassteadilyclimbedoverthepastfewyearsAGlobalDatareportindicatesthesizeofSingaporesconstructionmarketwasanimpressive$25billionin2023Evenbetterthestudyalsoanticipatesthemarketwillachieveanaverageannualgrowthrate(AAGR)ofover4%from2025to2028withinvestmentsincleanenergyprojectsaswellastransportandpublichousingprojectsdrivingconstructionmarketdemandThisanticipationissharedbyexpertsathometooSingaporesBuildingandConstructionAuthority(BCA)revealedinapressreleasethattheyexpecttotalconstructiondemandtoreach