SINGAPORE (Oct 24): Mainboard-listed construction firm Lian Beng Group reported that its wholly-owned subsidiary, Lian Beng Construction, has secured a contract worth $173 million for the proposed construction of a condominium housing development at River Valley Close. 

The contract, awarded by real estate development corporation Carmel Development, involves the demolition of existing buildings on the site spanning 128,352 sqft currently occupied by the Pacific Mansion condominium and the construction of two 36-storey towers with a total of 376 residential units.

In a regulatory filing on Thursday, Lian Beng reported that work on the new condominium development is scheduled to commence in November, and is slated to be completed in November 2022. 

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