SCB EIC expects public construction to fall about 5% in 2027 (to roughly 927,000 million baht) because the 2027 capital budget was cut about 13%, with the Department of Highways, Rural Roads, Irrigation and Public Works all facing double-digit cuts. Private construction is seen flat to up 1% in 2027, with Bangkok and vicinity new housing units stuck near 44,000 a year. Contractors should plan for thinner public tenders and watch the southern double-track rail phase 2 tenders as a possible offset. Material prices have kept rising since the March Middle East conflict, so cost pressure remains high.