KSH secures S$142.3m contract win for Q Bay Residences

Construction commences April 2013.

In a release, construction and property management group KSH Holdings Limited (KSH) announced that it has received the Letter of Acceptance (LOA), worth approximately S$142.3 million from Quarry Bay Pte Ltd (Quarry Bay), for the main contract works of Q Bay Residences at Tampines Avenue 10 – a private condominium in Tampines that is also the first private condominium to launch in 2013. Quarry Bay is a consortium comprising Frasers Centrepoint, Far East Organization and Sekisui House.

The construction of Q Bay Residences is expected to commence in April 2013 for a total construction period of 33 months. With this new contract win, the existing order book of the Group’s construction business increases to more than S$460 million.

Q Bay Residences is located opposite Tampines Quarry Park, at the cross junction of Tampines Ave 1 and Tampines Ave 10, and is within close proximity to Tampines MRT station.

Under the terms of the contract, the works will include the construction of 8 blocks of 16-Storey apartments with 630 units in total, with shops, common basements’ carparks, landscape deck and communal facilities.

Said Mr Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings, “This letter of acceptance underscores the private sector’s recognition of KSH’s technical forte in construction, one of KSH’s established pillars for growth. Having worked on prior projects by Frasers Centrepoint and Far East Organization, we are delighted to partner Quarry Bay in bringing to the market an unequalled experience of bayfront living. As an A1-graded contractor under BCA CW01, KSH is also well-positioned to tender for public sector construction projects of unlimited value.”