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20232023RIDERSRIDERSDIGESTDIGEST SINGAPORESINGAPOREEDITIONEDITION RIDERS DIGEST1616THTHEDITIONEDITION 20232023 Rider’sDigest is a yearly publication from RLB’s Research&Development department. It is a compendium of cost informationand related data on the Singapore construction industry. While Rider Levett Bucknall (“RLB”) has endeavoured to ensure the accuracyWhile Rider Levett Bucknall (“RLB”) has endeavoured to ensure the accuracyof the information and materials in this publication (the “Materials”), it does notof the information and materials in this publication (the “Materials”), it does notwarrant its accuracy, adequacy, completeness or reasonableness and expresslywarrant its accuracy, adequacy, completeness or reasonableness and expresslydisclaims liability for any errors in, or omissions from, the Materials.disclaims liability for any errors in, or omissions from, the Materials. RLB shall not be liable for any damages, losses, expenses or costs whatsoeverRLB shall not be liable for any damages, losses, expenses or costs whatsoeverarising out of or in connection with the use or reliance on the Materials. Thearising out of or in connection with the use or reliance on the Materials. TheMaterials are provided for general information only and should not be construedMaterials are provided for general information only and should not be construedascosting,legal,tax,or any other professional advice.Professional adviceas costing,legal,tax,or any other professional advice.Professional adviceshould be sought when utilising any information in this publication to verify itsshould be sought when utilising any information in this publication to verify itsapplicability to their specific circumstances.applicability to their specific circumstances. The Materials may not, in any medium, be reproduced, published, adapted,The Materials may not, in any medium, be reproduced, published, adapted,altered or otherwise used in whole or in part in any manner without the prioraltered or otherwise used in whole or in part in any manner without the priorwritten consent of RLB.written consent of RLB. Singapore OfficeRider Levett Bucknall911 Bukit Timah Road Level 3Singapore 589622T: +65 6339 1500F: +65 6339 1521E: rlb@sg.rlb.com Cost information in this publication is indicative and for general guidance only.Cost information in this publication is indicative and for general guidance only.All prices and rates are as at December 2022 and expressed in Singapore DollarsAll prices and rates are as at December 2022 and expressed in Singapore Dollarsunless otherwise stated. References to legislative provisions and regulations areunless otherwise stated. References to legislative provisions and regulations areas at First Quarter 2023. Changes after this period will not be reflected.as at First Quarter 2023. Changes after this period will not be reflected.All figures are rounded and exclude GST.All figures are rounded and exclude GST. INTRODUCTION TOWARDS THE NEXT 50 YEARSTOWARDS THE NEXT 50 YEARS Rider Levett Bucknall celebrated 50 years of industryRider Levett Bucknall celebrated 50 years of industryleadership and service excellence in Singapore last year.leadership and service excellence in Singapore last year.We take pride in upholding the respect and trust conferredWe take pride in upholding the respect and trust conferredby clients and industry peers in our cost advisory services,by clients and industry peers in our cost advisory services,forging invaluable ties that have stood the test of time. Inforging invaluable ties that have stood the test of time. Inthe next 50, we are committed to continuing this legacythe next 50, we are committed to continuing this legacythrough our dedication to understanding client needs andthrough our dedication to understanding client needs andproviding true value-add.providing true value-add. One of our key strengths is our rich repository of costOne of our key strengths is our rich repository of costdata, enabling us to provide market intelligence on costdata, enabling us to provide market intelligence on costand procurement. In the midst of market volatility andand procurement. In the midst of market volatility andpotentialglobal economic crisis threatening to pushpotential global economic crisis threatening to pushconstruction prices to new highs, reliable and up-to-dateconstruction prices to new highs, reliable and up-to-datecost advice are crucial in establishing realistic constructioncost advice are crucial in establishing realistic constructionbudgets.budgets. This year, our iconic pocket-size Rider’s Digest handbookThis year, our iconic pocket-size Rider’s Digest handbookis back by popular demand, while also keeping the digitalis back by popular demand, while also keeping the digitalbooklet available on our website. We wish to reassure youbooklet available on our website. We wish to reassure youthat Rider Levett Bucknall is committed to minimising ourthat Rider Levett Bucknall is co