Although many Singaporeans have expressed concerns about the projected 6.9 million population growth by 2030, some construction firms are looking to capitalise on this hot-button issue to grow their business.
Ho Toon Bah, Executive Director of Soilbuild Construction Group, explained that the forecasted average construction demand of S$20 billion to S$28 billion per annum for 2014 and 2015 will support the population surge.
“The 6.9 million population figure is good news to us. It means that there are more houses to build and more jobs for us!”
On-going construction projects by the company include three public housing contracts, a building in Changi Business Park, a mixed-use project in Lavender Street and four industrial properties in Bukit Batok, Mandai and Yishun.
Responding, Lim Chap Huat, Executive Chairman of Soilbuild, said: “We intend to further develop our position in the public housing sector as HDB ramps up the construction of public housing in the coming years. We believe that our track record in public sector projects puts us in good stead to compete in future tenders from the HDB and other public agencies.”
Meanwhile, Soilbuild is looking to be listed in Singapore through an IPO of 168 million new shares at $0.25 per share.
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg