Builder Soilbuild Construction said it won a S$50 million contract by SB (Waterfront) Investment to erect a 7-storey single user general industrial factory development.
The proposed construction is at No 171 Kallang Way and the project is to be completed in the third quarter of 2019, Soilbuild said in a statement on Thursday.
With the award of the project, the group's order book stood at about S$574.2 million as at the end of June 2017.
The contract is not expected to have a material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year ending 31 December 2017, Soilbuild said in a statement.
Soilbuild newly secured projects in Singapore, namely Bedok Food City Project and 164 Kallang Way Project are expected to commence revenue contribution to the Group only in the second half of financial year 2017.
Shares in Soilbuild Construction fell 2.6 percent to S$0.19 on the Singapore Exchange. The stock has lost about 12 percent so far this year.
