Building consultancies win more overseas deals
SINGAPORE construction consultancies won 406 projects overseas last year, up from 360 in 2006, according to a survey by the Building and Construction Authority.
BCA said that following a decline in 2006, China regained top spot as the largest overseas market, with 137 projects won last year. Ninety contracts were secured in India, the second-largest overseas market. Vietnam and Malaysia remained attractive, along with Abu Dhabi, Dubai, Saudi Arabia and the United Arab Emirates in the Middle-east.
BCA said the most sought-after services were architectural and master planning - more than half of all projects won, up from just 28 per cent in 2006.
The BCA survey also found that Singapore construction firms clinched $2.7 billion of contracts overseas - the highest value in five years, with the greatest growth in environmental-related construction projects. About $1.2 billion of such projects, including water treatment plants, were signed last year, in comparison with $330 million in 2004.
On the other hand, the value of general construction work contracts won overseas fell as the booming local market absorbed firms’ capacity and attention, BCA said.
In all, the Middle-east was the leading market for Singapore construction exports, with $1.7 billion of deals signed, against just $200 million in China. However, construction exports to India and South-east Asia declined sharply, according to BCA.
Source : Business Times - 20 Jun 2008
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