Singapore construction firm Lian Beng Group has won two contracts worth a total of S$90.2 million. The first is a S$73.5 million contract to build a 21-storey freehold condominium Amber Residences along East Coast Road. The building contractor also sealed a deal worth S$16.7 million to build a 7-storey industrial building at Paya Lebar i-Park. Work on the projects will begin in May and expected to be...
Construction
The construction industry is expected to lead Singapore's economic growth this year, according to 19 economists polled in the latest quarterly survey by the Monetary Authority of Singapore (MAS). They projected an expansion of 15.9 per cent for the construction sector this year, up 2.4 percentage points from the forecast in the previous MAS survey in December. Analysts Channel NewsAsia spoke to, shared...
Poh Lian Construction, a unit of United Fiber System, has won the building contract to redevelop a site formerly known as Green Meadows condominium along Upper Thomas Road. The contract, awarded by UOL Development, is worth about S$202 million. The award of the project has boosted Poh Lian’s order book to a new record of S$550 million, up 58 percent since January 31. Poh Lian said the latest contract...
Hong Leong Asia's foray into China is paying off for the company. Its China operations and building materials unit both helped to boost its full-year net profit to S$95.4 million, up 56 percent on year. Revenue rose 30 percent to S$3.2 billion. Hong Long's share of profit from associates increased to S$25.4 million in 2007, a turnaround from the loss in 2006 of S$500,000. Most of the contribution come...
The civil works contract (C901) for the Circle Line Marina Bay Station has been awarded to Hock Lian Seng Infrastructure (Pte Ltd). The S$348.4 million contract is for the construction and completion of the Circle Line Marina Bay Station and tunnels. It includes alteration and addition works to the current North South Line (NSL) Marina Bay station, diversions of the East Coast Parkway and demolition of a...
The government's move to defer another S$1 billion worth of construction projects beyond 2009 is being welcomed by industry players. They said it will help to ease pressures on the supply side, allowing for critical private sector projects to go ahead. Still, they expect construction costs to hold up - and even jump by 10 to 15 per cent in 2008. Work is already underway at the two integrated resorts at...
The pace of cost increases has been rapid and unsettling for businesses so the government is implementing key measures to address office space constraints and spike in construction costs. Construction demand will continue to build up this year, with projected value of contracts to hit up to S$27 billion. At the same time, construction costs are climbing as well. Finance Minister Tharman Shanmugaratnam...
Sembawang Engineers and Constructors has won a S$400 million contract to build the North Podium of the Marina Bay Sands integrated resort. The podium, which will have four upper levels and four basements, will house the casino, theatres and a retail arcade. Construction work will start this month and expected to be completed by April 2009. The company is also building the new Downtown Line Bayfront MRT...
BBR Holdings has won a S$95 million contract to build two office tower blocks at the International Business Park in Jurong East. Piling works will begin next month and the project is expected to be completed by August next year. The latest award from Ascendas adds to BBR's current order book of nearly S$423 million. The project will feature two 12-storey tower blocks linked by a sky-bridge at the 10th...
Singapore-listed Straits Trading Company is pumping in some S$60 million to build a new building. It will be developed on the site of the old Straits Trading Building and is expected to be completed in 2009. Agents for the New Straits Trading Building said they see strong demand for premium mid-sized office space. A new 28-storey Straits Trading Building will rise in the heart of Singapore's financial...