TA Corp wins land tender with S$113.9m bid

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. For more information on Building and Construction seminars, please visit www.asiapacificevents.com