Lian Beng nails residential development contract worth $174m

It involves constructing five blocks of flats with 566 units.

Lian Beng Construction has secured a contract through a tender from NovaSims Development for the proposed residential flat development worth about $174m, according to a press release.

This contract involves the construction of five blocks of 18-storey residential flats, which could produce a total of 566 units. It also includes a child care centre with four-storey multi-storey car park, one basement car park, swimming pool and communal facilities MK24 on Lot 11029X Sims Drive (Geylang Planning Area).

The contract period shall be 36 months and is expected to begin in June.

As of 11 May, Lian Beng Group, which wholly owns Lian Beng Construction, has an order book that stood at about $1.7b, which it expects to provide a sustainable flow of activity through FY2023.