South East Asia

  • GDP Growth
  • Population
The country has managed to weather many of the economic challenges as a result of the COVID-19 pandemic, thanks in part to strong fiscal policies, a robust construction industry, and strategic investments in technology and innovation. Singapore’s Growth Domestic Product (GDP) is expected to grow at a rate of 1.5% in 2023, experiencing a slower growth rate from 3.6% in 2022.

Singapore's deceleration in GDP growth can be attributed to a contraction in the manufacturing sector, which has been affected by the slowing global economic conditions.

In the previous year, Singapore's construction industry witnessed a significant expansion of 6.6%, largely driven by an increase in consumer and investor confidence as well as the relaxation of COVID-19-related travel and business restrictions. The Monetary Authority of Singapore has estimated that inflation, as measured by CPI-All, will fall within the range of 5.5% to 6.5% for the year.

Looking ahead, the construction industry is poised to experience further growth, with an expected annual rate of 5.4%. This growth can be attributed to the planned public housing and major infrastructure projects in the country, which will provide a boost to the construction sector. Singapore's total construction demand in 2023 is expected to range between S$27 billion and S$32 billion.

Neil Gunn, Regional Manager - South East Asia, says, "Despite facing persistent challenges such as labour shortages and higher material prices, the construction industry is showing signs of increased activity, and this is expected to further increase in the medium to long term.

In the wider South East Asia region, it is estimated that Developing Asia will invest S$2.2 trillion each year to 2030 on infrastructure to maintain the current growth rate. Many Asia-Pacific countries are forecasting significant opportunities for growth as a result of their young growing populations.

In 2023, BG&E's local team contributed to the following projects:

  • Tuas Pharmaceutical - BG&E provided civil and structural engineering design services for a leading optometric pharmaceutical manufacturing company in Tuas. After the successful completion of Phase 2, BG&E is delivering Phase 3 of the project, involving new state of art manufacturing building and utility building, Support Facilities with a combined GFA of over 16,000 m2.
  • Tekong Island Reclamation - BG&E’s locally based engineering experts are contributing structural and civil engineering services for this ambitious reclamation project. BG&E is supporting the civil design construction phases, optioneering for the construction solutions, and support for the latter stages of design. The core brief is to push engineering boundaries while achieving safe, practical, and cost-effective construction outcomes.
  • 36MW Data Centre campus, Philippines - BG&E provided the full structural and civil engineering design services for a leading telco and fully integrated ICT service provider. The 36-megawatt Sta. Rosa Hyperscale Data Center facility expands the region's network of world-class data centres and assists furthers the Philippines' position as a digital hub and destination in Asia Pacific.
  • Singapore Data Centre – this adaptive project involves the renewal of existing capital assets while maintaining the uninterrupted operation of customers’ loads in production during the project. BG&E provided the structural and civil engineering design services for this facility consisting of 6 no. storeys with roof for M&E plant, capable of accommodating 15MW of IT Load.
  • The Greater Male Connectivity Project (GMCP) is the largest infrastructure project in the Maldives, consisting of a 6.7km bridge and causeway network to connect the islands of Male, Villingili, Gulhifalhu, and Thilafushi in the Maldives using renewable energy. The new bridge includes three navigation bridges of 140m main span across the deep channel between each island. The scope of service includes checking all temporary works, including temporary steel bridges and platforms for the piling operations, steel liners for temporary and permanent piles, pile cap cofferdams and shuttering, load-out jetties, erection gantries, lifting frames, and spreader beams for the balanced cantilever erection, casting yard equipment, floating stability, and the lashing system for bridge segment transportation on barges.
  • 124MW Data Centre Campus in Manila, comprising over 83,000 square metres of gross floor area across four buildings, offering a development potential of 124 megawatts of IT load capacity once fully built out. It is strategically positioned within Quezon City with access to nearby substations, as well as critical telecommunications, transportation links, and logistics, business, and industrial hubs. BG&E provided the structural and civil engineering design services for this new data centre campus that will cater to both hyperscalers and enterprises, providing flexible and scalable low-latency colocation options that are also sustainably built and operated.
Neil says, "The Singaporean government is focused on promoting sustainable economic growth through investments in innovation and technology, as well as by fostering a business-friendly environment that attracts foreign investment. The country has also prioritised efforts to reduce its carbon footprint and increase sustainability, with plans to invest in renewable energy sources and improve public transportation infrastructure.

"These government initiatives are exciting and align closely with BG&E's sustainability objectives. Using our in-house carbon calculation tools, we can rapidly capture relative material emissions throughout the project construction lifecycle, providing opportunities to assist our clients achieve their project sustainability goals."