Chip Eng Seng Clinches $32.9mil Upgrading Contract From HDB

The contract connects with the layout and construct of upgrading jobs for some area in Singapore– particularly, Serangoon Ave 1/ Central, Blocks 401 to 414; Serangoon Avenue 1/ Central, Blocks 415 – 427; Lengkong Tiga, Blocks 101 to 116 and Ubi Ave 1, Blks 301, 302, 304, 305 and 306.

Penrose floor plan

During 29 Dec 20, Chip Eng Seng informed that the written agreement will be executed in 2 sections, by having the very first portion associating the design’s endorsement along with producing of sales brochures and polling documents.

The subsequent portion is going to require the executing of enhancing labors in the units in regard to the abovementioned blocks. Regarding this component, the achievement phase is 18 mths toward the Serangoon as well as Lengkong Tiga districts, as well as 9 months for the Ubi precinct.

“Effort for the second part are going to commence at the time of drafted direction coming from HDB,” said Chip Eng Seng.

The firm looks forward to the contract to positively result in its revenues per allotment in addition to its net substantial properties for the next FY as at 31Dec 21.


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