Assuming the volume of construction work remains unchanged, Singapore’s construction sector could see a 20 to 30 percent reduction in its workforce by 2020 if there is a similar increase in productivity, noted the Building and Construction Authority (BCA).
This means it is a good time for industry players to adapt, said BCA Chief Executive John Keung, ahead of the Singapore Construction Productivity Week 2013 which starts today and ends 2 August.
The agency is looking to improve construction productivity by at least 30 percent in 2020, Keung noted. He added that construction firms should make use of new technology and efficient systems to reduce their reliance on excessive manpower.
He also downplayed concerns that the city-state's building industry will be seriously affected by tighter foreign labour quota and higher foreign worker levies.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email email@example.com