SINGAPORE (Aug 27): Tiong Seng Holdings, the construction group and property developer, has been awarded a construction contract worth $130.5 million by Midtown Development, a company that is part of the Worldwide Hotels Group, to develop a hotel.
The first-of-its-kind hotel located at Club Street will be utilising a full concrete prefabricated prefinished volumetric construction (PPVC) method, whereby the volumetric concrete modules are produced off-site at the group’s production facility before being transported on-site for assembly.
The project will involve the construction of a 20-storey hotel building with shops and restaurants on the ground level and 19 storeys of hotel accommodation. The development will also include a basement level carpark, as well as an underground pedestrian link with both retail and restaurant outlet space.
The site possession is expected to take place this month.
With this latest project win, Tiong Seng’s construction order book size has increased to about $753 million extending to 2023.
Pek Lian Guan, CEO of Tiong Seng, says, “Located in close proximity to the Central Business District, this development will allow us to showcase our diversified product offering, quality of workmanship and ability to complete projects of varying complexity, uses and scale. As a first-of-its-kind hotel in Singapore to be built using a fully concrete PPVC method, this project will continue to elevate our position as an industry leader in harnessing cutting-edge construction solutions.”
Shares in Tiong Seng closed at 20.5 cents on Tuesday.
