TURNKEY CONTRACTING IN SINGAPORE : ITS VIABILITY AND PREREQUISITES FOR ITS WIDER ADOPTION

Abstract

The construction industry in Singapore has undergone a profound change in recent years. The increasing complexity of buildings, the need for greater financial management, the need to reduce design and construction periods and the increasing burden of contract administration, have all put pressure on clients and owners to seek alternative approaches to the traditional practice. This is especially so when the industry has recently been greatly affected by - increasing demand in the technical, managerial and economic fields. This study is an attempt to highlight turnkey contracting as an alternative contracting method. Based on the discussions and findings, it is suggested that turnkey contracting can be viable in Singapore and also set the prerequisites for its wider adoption.