SINGAPORE (Nov 28): Lian Beng Group will be developing the condo project at Potong Pasir Ave 1.

The contract worth $136.8 million was won by wholly-owned subsidiary Lian Beng Construction (1988).

The development will comprise three blocks of 20-storey, two blocks of 19-storey, and four blocks of eight-storey residential buildings with two-storey car parks and ancillary facilities.

The contract is expected to start in December and will be completed in 38 months.

The project brings Lian Beng’s order book to $836 million, which will provide a sustainable flow of activity through FY21.

Lian Beng says the contract is expected to have a positive financial impact on its net tangible assets per share and earning per share for the current financial year ending May 31, 2018.

Shares in Lian Beng closed at 74.5 cents on Tuesday, down 3 cents or 3.9%.