Singapore’s Building Construction Authority forecasts construction demand to reach between €18.5 billion and €23.2 billion per year for 2022 and 2023.
European companies that have products or services meant for the design of green buildings or sustainable practices in operations and maintenance may see potential in the Singaporean market.
The Construction Industry Transformation Map (ITM) is part of a €2.96 billion Industry Transformation Programme introduced by the Future Economy Council (FEC), aiming to make the construction sector more advanced and integrated.
With large city redevelopment plans in the government’s pipeline, investment is foreseen in public infrastructure such as transport and non-residential infrastructure projects until 2025.
The Philippines’ Build Build Build Programme will devote €1.4 billion from 2017 to 2022 on infrastructure projects. The number one priority will be transportation infrastructure, to relieve widespread traffic congestion.
Sustained industrialisation and urbanisation in cities like Manila leads to more emissions and energy consumption. Smart building solutions and IoT will play an important role in mitigating growth and environmental conservation. Construction-related materials including steel and cement manufacturing facilities are expected to be in demand.
The EU Gateway | Business Avenues mission in Construction & Building Technologies will bring innovative EU companies to Singapore & Manila from 2-8 November 2020.
Find here more information on this EU-funded mission and apply online by 19 June 2020.