Lum Chang Holdings says subsidiary Lum Chang Building Contractors, a wholly-owned subsidiary of the company, has clinched the tender for the third and final phase of the commerical development at Changi Business Park Ave. 3.

The design and build contract worth $27.5 million was awarded by HSBC Institutional Trust Services (Singapore) as trustee of Ascendas Real Estate Investment Trust or A-REIT.

Phase three of this development involved the construction of Block 2, which is the third of the three 8-storey buildings for this development. This project is expected to be completed in 14 months’ time.

In 2007, Lum Chang Building Contractors won a $71.8 million tender to build an eight-storey office building and basement carpark on Plot 8 — the first of three towers in the Changi Business Park commercial development. Lum Chang Building Contractors completed the building on schedule and obtained temporary occupation permit in February 2009.

In August 2008, Lum Chang Building Contractors also won the tender for the second phase of this development to build another tower as well as an ancillary podium for a contract sum of $76.5 million. The building was also completed on scedule and temporary occupation permit obtained in Sept 2009.

The latest project is not expected to have a material impact on the group’s results for the current financial year ending June 30, 2010 and brings the total value of contracts still in progress to over $800 million.