COVID-19

MARKET Report – REGIONAL

With continuous uncertainty surrounding COVID-19 and subsequent restrictions impacting the construction
sector, BCI is responding by releasing a free fortnightly COVID-19 Market Report. By providing critical
market visibility, this report seeks to support industry stakeholders during a period when the construction
sector faces unprecedented challenges and uncertainty.

The COVID-19 Market Report has been designed to address the specific circumstances we face due to the
coronavirus crisis. This report will highlight key information our fully operational, industry-leading Research
Department has found through daily contact with hundreds of decision makers. Feedback from our
Research Department includes:

Hong Kong

• Most architects are now working from home but continuing to work on design and documentation.
• Tenders continue to be called, with many government tender closing dates being extended.
• The majority of nationally-significant major projects at construction stage are continuing.
• Despite the changes of circumstances, generally all parties are doing their best to maintain business-as-
usual.

20 March – 2 April 2020 Count HKD billion USD billion

Early Stage Projects 220 137.6 17.8

Projects reported in Tender stage 35 19.1 2.5

Projects reported in Main Contract Awarded stage 45 11.8 1.6

Indonesia

• Government tenders are continuing to be announced.

• Property developers have intensified marketing efforts and shifted campaigns to digital platforms.
• Architects are staying positive, and continue to work on documentation while working from home.

20 March – 2 April 2020 Count IDR billion USD billion

Early Stage Projects 401 85,344.5 5.2

Projects reported in Tender stage 107 2,424.4 0.1

Projects reported in Main Contract Awarded stage 351 23,639.3 1.4

www.bciasia.com
Malaysia

• Prime Minister Tan Sri Muhyiddin Yassin has announced that the government will be focusing on
domestic investments that have high multiplier effects and create jobs. There is a budget of RM2 billion
for the scheme which will allow small projects already in the pipeline to proceed.
• A previous stimulus package included another RM2 billion for projects starting in April 2020.
• The government has identified jobs that will benefit contractors in the G1 to G4 categories.
• Major nationally-significant projects that have already been budgeted in 2020 will continue to be rolled
out including the East Coast Rail Link, MRT2 and the National Fiberisation and Connectivity Plan (NFCP).

20 March – 2 April 2020 Count MYR billion USD billion

Early Stage Projects 276 18.2 4.2

Projects reported in Tender stage 234 0.9 0.2

Projects reported in Main Contract Awarded stage 68 2.4 0.5

Philippines

• Despite the shutdown, most of our Luzon-based research partners, including some of the biggest
architectural firms, are continuing their operations with their employees working from home.
• Although many government offices in the National Capital Region and some provinces have closed, there
are still several implementing agencies who are continuing to advertise open tenders and invite EOIs for
consultants and contractors.
• Some recently awarded main contractors are focused on settling requirements and documentation, but
there are several we have confirmed that are still open to receiving proposals and enquiries through their
company email addresses.

20 March – 2 April 2020 Count PHP billion USD billion

Early Stage Projects 298 90.9 1.8

Projects reported in Tender stage 47 3.5 0.1

Projects reported in Main Contract Awarded stage 245 47.6 0.9

Singapore

• Most architects are still working on project design and documentation from home, and are generally
contactable by email.
• Since early 2020, there’s been a delay of one to two months in the process but authorised departments
are continuing to approve projects.
• Government funded projects are progressing, and support packages have been announced for various
business sectors.
• Tenders continue to be called and contracts awarded, albeit with some delays. In Q1/2020, only 6 of the
government tenders we are tracking have not been awarded.
• Projects of national significance are pushing through, for example, the Land Transport Authority (LTA) is
still awarding contracts to enable major MRT lines to progress.

20 March – 2 April 2020 Count SGD billion USD billion

Early Stage Projects 112 3 2.1

Projects reported in Tender stage 51 4.2 3

Projects reported in Main Contract Awarded stage 112 2.8 1.9

www.bciasia.com
Thailand

• Increasingly, more architects are now working from home but most can be contacted by direct numbers
or via reception/admin. Major main contractors still have someone in the office or answering main lines.
• Government online procurement continues to report new tenders and contracts are still being awarded.
• Nationally-significant projects are still commencing construction, for example the Office of the National
Water Resources, which just commenced in late March 2020.

20 March – 2 April 2020 Count THB billion USD billion

Early Stage Projects 233 57.6 1.8

Projects reported in Tender stage 171 7 0.2

Projects reported in Main Contract Awarded stage 257 44.6 1.4

Vietnam

• Almost all architecture firms are continuing to work, especially on concept and design stage projects.
• While the tightening of government policies has slowed down the process, projects continue to be
approved. This is boosted by the February 2020 condotel ownership grant which assists both investors
and purchasers.
• The government continues to fund public projects with a focus on infrastructure, utilities, provincial
offices and hospitals.
• Most nationally-significant major projects are progressing, especially in Hanoi and other Northern
provinces.

20 March – 2 April 2020 Count VND billion USD billion

Early Stage Projects 303 65,539.1 2.8

Projects reported in Tender stage 40 8,937.2 0.4

Projects reported in Main Contract Awarded stage 175 27,251.9 1.2

Please note

The figures in this report are based on reliable sources and direct feedback from project contacts, but are
subject to change. Future updates will be adapted to capture the current state of the market as government
restrictions change. Information utilised in this report is current as of 2 April 2020. This information has been
prepared without taking your specific needs or objectives into account. Because of this you should consider
its appropriateness with regard to your objectives or needs before acting on this information. BCI Asia
does not warrant the accuracy or completeness of the information in this publication, and accepts no, and
disclaims all, liability for any loss or damage whether occasioned by reliance on such information or
otherwise. The information is subject to change without notice and BCI Asia is under no obligation to update
the information or correct any inaccuracy which may become apparent at a later date.

Want more?

BCI is committed to supporting your business through the current construction climate. For more
comprehensive information on all aspects of the construction market, please click here to contact the BCI
team.

www.bciasia.com