SINGAPORE (Apr 5): The $9 billion investment to renew and refresh Singapore’s two integrated resorts (IRs) could provide some vibrancy to the domestic economy in the next few years and whip up some optimism in the city-state, says CGS-CIMB Research.
“The economic implication of this transformation will first be felt in the construction sector before having a multiplier effect on the rest of the economy via service-producing industries (jobs creation),” says analyst Lim Siew Khee in a Friday report.
“The construction industry could recover with the flood of contracts and margin expansion in the next two to three years. We anticipate construction demand to rise to $30-35 billion per annum from 2020 from close to $25 billion per annum in 2015-2017,” she adds.
