ROBUST GROWTH OF GREEN BUILDING MARKET
Green buildings are an optimal solution to counter global warming and its effects. The global green buildings market is projected to enjoy an impressive 10.26% CAGR through 2018 to 2023 (forecast period). The emphasis on sustainability and the pressing need of nations to reduce their carbon footprint are factors expected to drive the market growth.
According to a research by World Green Building Council, the top sectors for SEA green building are new commercial construction (57%), high-rise residential (41%) and communities (36%).
The green mandates in Singapore have led to a high level of green activity in the nation. Being at its forefront, Singapore has become the role-model for other cities contributing to only about 0.11% of the global total emissions and hence has built up a reputation as a world leader of the green building movement.
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NOT TO BE MISSED:
Construction Outlook for Asia
From 2017 - 2021, the six countries in the ASEAN zone (Philippines, Malaysia, Thailand, Singapore and Viet Nam) are expected to grow at 7.5% in the construction sector, compared to global growth of 3% over the same period.