FORECAST AND ACTUAL CONSTRUCTION DEMAND (TO DATE)

Institutional & Civil Total for

Residential Commercial Industrial Total
2020 Others Engineering1
Both
Public Private Public Private Public Private Public Private Public Private Public Private Sectors

Actual
2.90 2.68 0.37 1.27 2.10 2.18 2.58 1.28 4.88 0.78 12.84 8.20 21.04
($bil)

Institutional & Civil Total for

Residential Commercial Industrial Total
2021 Others Engineering1
Both
Public Private Public Private Public Private Public Private Public Private Public Private Sectors

Forecast2
4.5 – 5.1 2.9 - 3.4 0.1 1.9 - 2.3 0.8 - 1.1 2.0 - 2.6 1.8 - 2.6 0.8 - 1.0 8.0 - 9.2 0.5 - 0.7 15 - 18 8 - 10 23 - 28
($bil)

Actual up to
Sep 21P 4.18 3.19 0.04 2.09 0.70 2.04 2.10 0.88 6.68 0.42 13.70 8.62 22.32
($bil)

Forecast3
Period (Average Annual Demand in $bil)
Total for Both Sectors

2022 - 2025 25.0 - 32.0

1
Excludes reclamation contracts
2
Based on BCA's mid-year construction demand forecast review in August 2021
3 Based on BCA's medium term forecast released on 18 Jan 2021. The medium-term construction demand projection excludes any potential awards of

construction contracts for the development of Changi Airport Terminal 5 (T5) and its associated infrastructure projects as well as expansion of Integrated
Resorts (IRs) in view that their construction timelines are still under review due to impact of COVID-19 pandemic.

TENDER PRICE INDEX (2010=100)

(Data as at 17 August 2021)
2014 2015 2016 2017 2018 2019 2020 1Q2021 2Q2021
106.8 104.0 98.0 96.7 98.6 99.9 102.8 110.8 116.1

DEMAND FOR CONSTRUCTION MATERIALS

(Data as at 16 November 2021)
Material Cement in Bulk Steel Bars5 Granite Ready Mixed Concrete
(‘000 Tonnes) (‘000 Tonnes) (‘000 Tonnes) ('000 Cubic Metre)

Sep 2021 408.17 51.88 1495.90 954.30

Aug 2021 395.79 30.45 1499.40 949.20
Jul 2021 378.45 83.72 1613.70 989.20
5 Net imports plus local production without factoring in stock level
CONSTRUCTION MATERIAL MARKET PRICES (DELIVERED TO SITE)
(Data as at 16 November 2021)
Cement in Bulk Steel Bars6 Ready Mixed Concrete7*
Material (Ordinary Portland Cement) (16-32mm High Tensile)
($/Tonne) ($/Tonne) ($/Cubic Metre)
Oct 2021P 95.30 1113.00 104.00

Sep 2021 95.10 1105.40 104.10

Aug 2021 95.10 1111.90 104.60

p
= Preliminary data
6 With effect from Jan 2015, the market prices of rebar (without cut & bend) are based on fixed price supply contracts with a contract period of 1 year or
less.
Prices of rebar other than 16-32mm dimensions may be subject to surcharge.
7
Market prices of ready mixed concrete are based on contracts with non-fixed price, fixed price and market retail price for Grade 40 Pump.
* Imports of raw materials for concrete remain healthy to support the construction sector’s concrete needs. However, uptrend
in concrete price is expected given the increasing raw materials and conveyance costs.

MONTHLY MATERIAL PRICE INDICES FOR IMPLEMENTATION OF FLUCTUATION CLAUSE

[Base Period = June 20068]
(Data as at 16 November 2021)
Year / Month Concrete Steel Reinforcement

Sep 2021 134.4 144.2

Aug 2021 134.1 145.1
Jul 2021 133.5 144.1
8
Indices for both materials in June 2006 = 100