According to Civil Engineering Plc, the domestic construction market is expected to grow to ฿850 billion in 2022, which is 6% compared to the previous period. This will be supported by government projects contributing to infrastructure development and increased vaccination rates against Covid-19.
The country has been open since November 1, 2021, and the authorities expect not only an increase in tourism but also an increase in foreign investors. The construction sector is the most promising. According to Chaiwat Utaivan, chairman of the Civic Council, the construction market has the growth potential of new projects. Some of them relate not only to the construction of new buildings but also to the development of infrastructure: the introduction of a high-speed railway system, which will unite three airports, and the development of deep-sea ports.
Civil Engineering Plc is actively working on infrastructure development, making the region more attractive to potential investors. The company expects that public investment will continue to play a key role in the construction sector, as private investment is expected to grow more slowly.