SINGAPORE: TA Corp, a property construction and development firm, has bought
a 400,100 sq ft plot in Tuas South Street with plans to build a workers’
dormitory, The Straits Times reported yesterday.
In a “strategic
expansion” to grow its recurring income, the firm won the parcel from the Jurong
Town Corporation with a bid of S$113.9 million (RM292.41 million), it said in a
statement yesterday. TA Corp, the parent company of Tiong Aik Construction, beat
eight other contenders for the 20-year leasehold site.
The facility will
be one of the largest dormitories for workers here when completed, and will be
able to house 9,200 beds.
This article first appeared in The Edge
Financial Daily, on May 22, 2014.
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