Boustead wins over $100m Tukang industrial contract

Project lifts engineering backlog to $566m.

Boustead Projects has secured an engineering and construction contract worth more than $100m to build a 10-storey ramp-up industrial development at Tukang Innovation Drive in Singapore.

The Business 2 project sits under a 50:50 joint venture between Boustead Projects’ subsidiary, BP-Innovue, and Lian Beng Group’s subsidiary, SLB Development, which won the JTC land tender announced in May 2025.

The completed development will house more than 260 strata-titled industrial units designed for heavy industrial operations across an 18,687 square meter (sq m) site with an allowable gross floor area of 46,717.5 sq m.

It is planned as a multi-user facility with dedicated heavy vehicle parking and is expected to be completed within 24 months.

Boustead said the contract raised the Real Estate Solutions Division’s order backlog to $402m and the group’s engineering order backlog to $566m.

The company added that the contract is not expected to have a positive material impact on profitability, earnings per share, and tangible net asset value per share for the financial year ending 31 March 2026.

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