Tiong Seng seals S$146m deal to build environmentally-friendly condominium

Mainboard-listed Tiong Seng Holdings says its unit, Tiong Seng Contractors, has secured a S$146 million contract to design and build an environmentally-friendly condominium.

The contract for the condo, called Tree House, was awarded by Chestnut Avenue, a joint venture between City Developments and Hong Realty.

The 429-unit condominium project is located on Chestnut Avenue, off Upper Bukit Timah Road.

Under the contract, Tiong Seng will design and build four 24-storey towers as well as eco-features and recreational amenities.

This includes 24-storey high green walls which reduce the development’s carbon footprint by filtering pollutants and carbon dioxide.

The walls also collect rainwater for the irrigation of landscaping throughout the development.

Based on its design specifications, Tree House has clinched the Building and Construction Authority’s highest accolade – the Green Mark Platinum Award.

The work is expected to commence on July 1, and completed in 30 months.

With this latest contract win, Tiong Seng’s order book now stands at about S$1.1 billion.

Tiong Seng expects majority of these orders to be fulfilled over the next 12 to 30 months.

Source : Channel NewsAsia – 8 Jun 2010

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