Singapore City, Singapore - Axis Capital Group, a construction company based in Singapore, supports public sector projects which are reported to sustain construction demand for the rest of the months of 2015.
Environmental and public sectors are expected to reach between $29 million to $36 million in 2015, given a sustained pipeline in public sector projects. According to the Building and Construction Authority in Singapore, this year, public sector projects are expected to account for an estimated 60% or $18 billion to $21 billion of the total construction demand as reported by Building and Construction Authority (BCA) in Singapore, the country’s regulation board for industrialization and construction.
It has also been recorded that BCA has included requirements on the use of labor-efficient construction methods and building designs.
From the last quarter of 2014, buildings are required to meet the following criteria:
1. Meet higher minimum Buildable Design and Constructability standards.
2. Use prefabricated and standardized components.
3. Adopt high-impact productive technologies for projects under the Government Land Sales (GLS) programme. These include the adoption of Prefabricated Bathroom Units (PBUs) in residential (non-landed) sites, including Executive Condominiums, and the residential (non-landed) component of mixed-use sites sold under the GLS programme.
It is expected that many more business owners are planning to invest in construction of their companies this year.
Singapore, along with its neighboring Asian countries like Jakarta, Indonesia, Kuala Lumpur, Malaysia and Bangkok, Thailand is paving their way towards modern civilization and industrialization. Construction companies like Axis Capital Group have continued to support and help promote these Asian countries towards global competition. These countries now pose as a threat to other developed nation along the coast of the United States and Europe.
Public Sectors aren’t the only ones who have built their reputation in the construction industry this year.
According to analysts, foreign investors in Singapore have grown by over 70% for the last decade. It definitely helped the country’s economy. In the country, productivity on construction projects is currently around 30% lower than in Japan and almost half as efficient as in the United States. These statistics underline that regardless of any changes in labor law or the make-up of the future workforce, there is significant scope to deliver efficiency improvements in the industry’s overall performance levels.
Axis Capital Group will continue to support the country as it reaches industrialization and continued growth. It promises to continue providing quality products and services and assures its loyal patrons that they only sell or rent original equipment, far from the scams and frauds other people claim to minimize complaints.