KSH Holdings wins S$171.8m design and build contract for Biopolis Phase 6

PROPERTY group KSH Holdings has clinched a S$171.8 million contract for Biopolis Phase 6 in one north as well as the adjacent Buona Vista node of the rail corridor, the mainboard-listed company said in an exchange filing on Monday.

It secured the contract from HB Universal, a wholly-owned subsidiary of mainboard-listed property developer Ho Bee Land.

Under the design and build contract, KSH will construct a biomedical sciences development consisting of a 12-storey tower block with two basement carparks and rail corridor works at North Buona Vista Drive in Queenstown Planning Area.

The project is expected to begin in April and complete within 27 months. It is also expected to lift KSH's order book to over S$615 million, with 44 per cent consisting of public projects.

"This is a good start to the year 2021, and we look forward to a great year ahead, supported by our healthy pipeline of major public projects, and expectations of construction recovery in the upcoming year," said Choo Chee Onn, executive chairman and managing director of KSH.

The project is expected to progressively contribute positively to KSH's financial performance after the commencement of construction.

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HB Universal was awarded the concept and price tender worth S$223.6 million to build and operate Biopolis Phase 6 at one-north by JTC Corporation in March last year.

Biopolis Phase 6 is the latest development in the Biopolis precinct, one of JTC's key projects to boost the biomedical industry in Singapore.

KSH shares closed flat at 36 Singapore cents on Monday before the announcement.