SINGAPORE (June 15): Construction and property development firm Lum Chang Holdings announced that it has won a tender for additions and alterations to The Octagon at Havelock Square worth $155.5 million.
The contract was awarded by the Government of the Republic of Singapore c/o Family Justice Courts, and was signed by Lum Chang Holdings’ wholly-owned subsidiary Lum Chang Building Contractors (LCBC) on Monday.
Under the terms of the contract, LCBC will conduct refurbishment works to the existing 9-storey Octagon building. This includes structural strengthening works and construction of new floor slabs, replacement of lifts and facade conservation works.
The contract also includes an optional five-year comprehensive maintenance service package worth $9.4 million, which is subject to being exercised by the government.
The construction period is estimated to take 28 months. Work will begin on August 3.
This latest award brings the total outstanding value of construction works yet to be reported as revenue for LCBC to $1.9 billion.
Shares in Lum Chang closed flat at 31.5 cents.
