SINGAPORE: As the government continues to tighten quotas on foreign workers, developers said they expect higher costs and project delays.
Over the past three years, there has been a 30 per cent increase in hiring costs, but some developers said this could go up by another five per cent.
They also expect some condominium projects to be delayed by up to three months.
Jeffrey Teo, construction director at Lian Beng Construction, said: "It impacts my projects that has just started. As I am already committed to client, that this is the value, I cannot say, ’because of this levy increase, can I change my contract value?’.
"The government has to be clear that for contractors, must be some kind of warning to take in this cost. If not, it eats into our bottom line and operations."
MORE SINGAPORE NEWS
Latest Photo Galleries on xinmsn
US director Alexander Payne is in competition at Cannes this year with 'Nebraska', a black-and-white road movie through the American midwest... More US director Alexander Payne is in competition at Cannes this year with 'Nebraska', a black-and-white road movie through the American midwest. Duration: 01:07
Date 22 mins ago, Duration 1:07, Views 0