{"id":106333,"date":"2019-04-22T11:52:43","date_gmt":"2019-04-22T04:52:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-subsidiary-awarded-190m-building-contract\/"},"modified":"2019-04-22T13:04:06","modified_gmt":"2019-04-22T06:04:06","slug":"tiong-seng-subsidiary-awarded-190m-building-contract","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-subsidiary-awarded-190m-building-contract\/","title":{"rendered":"Tiong Seng subsidiary awarded $190m building contract"},"content":{"rendered":"


\nThe new residential development at Outram will comprise 774 units as well as communal facilities.
\nA fully-owned subsidiary of Tiong Seng Holdings has been awarded a contract worth about $190 million by Areca Investment, revealed the company in an SGX filing.
\nThe contract awarded to Tiong Seng Contractors (Private) Limited was for a proposed residential development at Outram comprising 774 units with swimming pool, four levels of basement carparks and communal facilities.
\n\u201cSite possession is expected in May 2019,\u201d it said.
\nTiong Seng does not expect the contract to materially affect the group\u2019s net tangible assets and earnings per share for the current financial year ending 31 December.
\nIt added that none of the company\u2019s directors nor controlling shareholders \u201chas any interest, direct or indirect, in the contract\u201d.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Tiong Seng subsidiary awarded 0m building contract<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The new residential development at Outram will comprise 774 units as well as communal facilities....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-106333","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rF3","jetpack-related-posts":[{"id":70718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-subsidiary-backs-out-of-jervois-road-site-acquisition\/","url_meta":{"origin":106333,"position":0},"title":"Tiong Seng subsidiary backs out of Jervois Road site acquisition","date":"November 2, 2017","format":false,"excerpt":"\r Tiong Seng Holdings\u2019s subsidiary, TSky (Jervois), has exercised its right to rescind the option to purchase two freehold sites in Jervois Road. This comes as the necessary redevelopment approval for the sites has not been given by the relevant authority \u201cdue to restriction of redevelopment plans for the remaining\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84358,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-led-joint-venture-acquires-cairnhill-heights-for-72-6m\/","url_meta":{"origin":106333,"position":1},"title":"Tiong Seng-led joint venture acquires Cairnhill Heights for $72.6m","date":"April 2, 2018","format":false,"excerpt":"\r The purchase price of Cairnhill Heights is lower than the initial asking price of over $80 million. TSky Development, a joint venture between construction firm Tiong Seng Holdings and investment holding company Ocean Sky International, has agreed to acquire the Cairnhill Heights condominium at 16 Cairnhill Rise for $72.6\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-jv-buys-two-residential-sites-for-s21mil\/","url_meta":{"origin":106333,"position":2},"title":"Tiong Seng JV buys two residential sites for S$21mil","date":"July 18, 2017","format":false,"excerpt":"\r \u00a0 A joint venture set-up by a unit of Tiong Seng Holdings has exercised an option to purchase two freehold residential sites in prime District 10 for a total of S$21 million, revealed an SGX filing on Monday (17 July). With a combined area of about 1,246.3 sqm (approx.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58326,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/large-contractors-harness-prefab-tech-as-small-contractors-keep-old-ways\/","url_meta":{"origin":106333,"position":3},"title":"Large contractors harness prefab tech as small contractors keep old ways","date":"June 19, 2017","format":false,"excerpt":"\r \u00a0 While several large construction firms have embraced technological advancement, such as the use of prefab technology, as an opportunity, most small and medium-sized enterprises (SMEs) are still resistant to change, reported The Straits Times. \u201cConventional construction is facing many challenges. 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