Experts say Singapore’s building construction industry is expected to hit S$22.5 billion ($15.7 billion) by 2024.
The southeast Asian country trails Latin America and Germany, according to ResearchAndMarkets.com, which are expected to reach $488.7 billion and $437 billion by 2024, respectively.
Singapore’s annual growth rate lags the other regions with an expected 2.5 percent annual growth rate. By comparison, Latin America is expected to see 8 percent annual growth and Germany, a 4.2 percent annual growth rate, during the forecast period.