The value of Singapore construction market is forecasted by GlobalData to grow by 5.4% in real terms in 2023, having grown by 6.6% in 2022. A key growth market will be the infrastructure market, with output rising by 3.8% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the five largest construction projects initiated in Singapore during Q2 2023, according to GlobalData’s construction projects database.
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1. Fab12i P3 Wafer Fab Manufacturing Facility
The project involves the construction of a 22/28nm wafer fab manufacturing facilities with a monthly production capacity of 30,000, 12-inch wafers in Singapore.
Construction work started in Q2 2023 and is expected to be completed in Q4 2024.
The project aims to meet the robust demand outlook for UMC’s 22/28nm technologies. Buy the profile here.
2. Jurong Island OCGT Power Plant 680 MW
The project involves the construction of two open-cycle gas turbine (OCGT) generation units with a combined capacity of 680MW in Jurong Island.
Construction work commenced in Q2 2023 and is expected to finish in Q2 2025.
The project aims to develop an OCGT plant that is capable of fast start-up and rapidly ramping up power production to deliver electricity on demand. Buy the profile here.
3. Combined Cycle Power Plant 600 MW
The project involves the construction of a 600MW combined cycle power plant in Singapore.
Construction work started in Q2 2023 and is forecast to complete in Q4 2026.
It aims to meet the growing demand for electricity from the domestic and industrial sectors. Buy the profile here.
4. Ulu Pandan Banks
The project involves the construction of seven residential blocks with 1,330 units along Commonwealth Avenue West (at Dover Forest) in Singapore.
Construction work commenced in Q2 2023 and is expected to be completed in Q3 2029.
It intends to provide better residential facilities in the region. The project will launch under the Prime Location Public Housing (PLH) model.
5. Mandarin Oriental Hotel Renovation
The project involves the renovation of a 527-room luxury hotel in Marina Bay.
Construction work started in Q2 2023 and is expected to be completed in Q3 2023.
The project aims to renovate the hotel and provide better hospitality facilities in the region. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
