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R.A.K. at 3rd China Concrete and Cement Products Industry Forum

On 1st June 2024, the 3rd China Concrete and Cement Products Industry Forum for High-Quality Development of the ‘Belt and Road’ was successfully held at the Nanjing International Expo Center. Distinguished guests from both China and abroad gathered at the venue, focusing on industry cooperation to support the international expansion of industry enterprises.

Ken Lee (MD) from R.A.K. Materials Consultants Pte Ltd has shared his presentation on ‘Market Trends in Singapore’s Construction (including Building and Infrastructure),’ In recent years, Singapore’s construction demand has steadily increased, with several projects receiving media attention and coverage. It is projected that the demand will remain between SGD 32 billion to SGD 38 billion in 2024, with a focus on public housing, private housing development, MRT line construction, and infrastructure development. The report predicts an average annual demand of SGD 31 billion to SGD 38 billion from 2025 to 2028. Additionally, the construction output in 2024 is expected to further expand to SGD 34 billion to SGD 37 billion. The demand for construction materials such as ready-mix concrete and precast concrete is also expected to continue rising, although the demand for steel reinforcement may slightly decrease. Ken anticipates that in the mid-2024 period, the Singaporean public sector will release a significant number of tender invitations, fostering further collaboration with Chinese enterprises.