Tiong Seng Holdings says Samsung-Tiong Seng JV, a 55:45 joint venture between its wholly-owned subsidiary, Tiong Seng Contractors, and Samsung C&T Corporation, has been awarded a $270 million contract by Singapore HealthPartners for the development of hospital, hotel and medical clinics at Race Course Road.

The scope of the contract includes main building works to the proposed part six-storey part 20-storey mixed development consisting of hospital, hotel and medical clinics. Expected to start in November and be completed by January 2013, the project will be carried out in two phases. The earnings from the project will be recognized progressively according to the stages of its completion.

With this latest contract win, the group’s book order currently stands at $1.09 billion.