NEC’s Head of APAC featured in Singapore Business Review

Earlier this year, Paik was interviewed by Simon Hyatt for Singapore Business Review - one of the leading business publications serving the Asia Pacific market, connecting with leaders across the country’s top 1,700 companies. 

With Singapore's construction demand projected to reach S$47-53 billion in 2026, the interview explores why the industry is increasingly turning to collaborative contracting frameworks such as NEC to manage cost escalation and reduce disputes. 

Paik sees the surge in use as both a story of expansion and a challenge of long-term asset optimisation unique to a mature urban environment: 

'[Singapore] is continuing to invest heavily in long term infrastructure, housing and industrial transformation. There's also an equal mandate to optimise the existing high-quality assets that we have in this quite mature urban landscape.' 

Demand is being driven by high profile projects such as Changi Airport Terminal 5, the Marina Bay Sands IR2 expansion, MRT network extensions and ongoing public housing developments - alongside sustainability-linked investments such as low-carbon data centres, hydrogen-ready power plants and sustainable aviation fuel facilities. 

On why NEC4 is well suited to deliver at this scale and complexity, Paik is direct: 'Collaborative models such as the NEC become a real anchor, because these contracts are precisely designed to deliver these types of complex projects.' 

The interview also addresses the practical conditions needed for collaborative contracting to succeed - including transparency, leadership commitment and localisation. Paik highlights work begun back in 2024 to develop tailored clauses aligning NEC with Singapore legislation and industry practices (including the release of new Y (SG) Clauses just last year), positioning the framework for wider domestic adoption. 

Collaborative models such as the NEC become a real anchor, because these contracts are precisely designed to deliver these types of complex projects.

Watch Paik’s full interview 'Construction demand drives shift to collaborative contracts' on the Singapore Business Review website.