http://www.businesstimes.com.sg/sub/...42115,00.html?
Published June 7, 2011
Lian Beng bags $150.7m condo contract
LIAN Beng Group announced yesterday that it had won a private residential contract worth $150.7 million.
The project will cover the building and earthworks of the condominium - known as Hedges Park - at Upper Changi Road North/Flora Drive.
The total land area of about 330,000 square feet will have 501 residential units, a basement car park, swimming pools, landscape and ancillary facilities.
The project is due to commence this month and is estimated to be completed by August 2014.
At the start of June, Lian Beng's aggregate order book stood at $812 million, including the contract win. The project is expected to contribute to the company's revenue from FY2012 to FY2014.
Lian Beng believes that it will benefit from the revised GDP growth forecast from 4-6 per cent to 5-7 per cent.
It cited the Building & Construction Authority's (BCA) projection of construction demand to reach between $22 billion and $28 billion, where 65 per cent of the aggregate demand will come from building projects.
'Moving forward, we will continue to tender for more construction projects in both the public and private construction sectors,' chairman and managing director Ong Pang Aik said.