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2017 has been an interesting year for engineering consultancies with an increasing number of companies trying to acquire new projects in Southeast Asia amidst sluggishness in the local market.
Changi Airport’s Terminal 5, The Jewel, DTSS Phase II, The Tusa Seaport and The Mandai Park are just some of the bigger projects due to be completed less than five years from now. With close to $30billion budgeted on infrastructure by 2020, in the first half of the year we noticed an increase in hires for Civil, Structural and Geotechnical specialists to work on many of the projects. Towards the latter half of 2017 consultancies shifted their focus to finding experienced Mechanical and Electrical Engineers to expand their MEP teams.
Aside from infrastructure experience, the Healthcare and the Mission Critical infrastructure sectors also saw an increase in demand for engineers with highly relevant design experience.
Here at Cobalt we go into 2018 with a positive outlook. The average construction demand is projected to be between $26 billion and $35 billion per annum in 2018 and 2019. The BCA estimates public sector construction demand to be between $18 billion to $23 billion per annum from 2018 to 2021, with similar proportions of demand coming from building projects and civil engineering works.
Besides public housing developments and more healthcare and educational facilities, public sector demand over the medium term will be supported by various upcoming mega projects such as the Jurong Regional Line, Cross Island Line, and various commercial projects such as Funan DigitalLife mall, Golden Shoe Carpark and IOI plaza.
Roll on 2018 for what promises to be an exciting year!
Article written by Aji Abu, Engineering Lead, Engineering
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