Tuesday, June 25, 2013
Keong Hong: Awarded $161.9m to be the main contractor for J Gateway by MCL Land (Gateway), a subsidiary of MCL Land. The residential development site at Boon Lay Way, Jurong East, has a land area of 124,732 sf and will consist of two towers of 20-38 storeys of 1-4 bedroom units with a total of 738 units. Construction works will commence on 28 Jun 13 and is scheduled to be completed within 39 months. Keong Hong has an order book of $690m, with projects up to 2016. On the street, Keong Hong has an estimated 12-month TP of $0.71 (albeit only having a single coverage).