Singapore construction companies are in financial crisis, and the delivery of thousands of HOS units is affected

If a homeowner is unable to find alternative accommodation for the time being, he can contact the authorities for assistance.

Editor: JW Singapore eye video number, have you paid attention? Click the video below to see more rich content! Or directly search “Singapore Eye” to find our video number –  .

It is understood that the company will announce the liquidation in the near future.

In addition, affected by virus blocking measures, the project was delayed for 12 months.

Before the new contractor takes over, the authorities are temporarily responsible for taking care of the construction site and pest management as a solution to this emergency.

they are responsible for the pre purchase of group housing projects, including 1246 units in marsilinggrove in maxiling, which is the most affected, 697 units in West Coast Parkview on the west coast, 230 units in SENJA ridges in Wuji bangrang 552 in SENJA heights and in Bukit Batu SkyVista@BukitBatok 257 HOS flats.

Recently, the two construction companies suffered a financial crisis and suspended the construction of nearly 3000 pre purchased group housing units from last Friday (August 20)( Source: Google maps, marsilinggrove in maxiling.

At present, the authorities have begun to arrange another temporary contractor.

In fact, greatart is not the first construction company unable to complete the construction of the housing authority( Source: SRX) since February last year, the Housing Authority has terminated two construction contracts, including the pre purchase of gange waterwaysunrise II.

Singapore will launch 17000 pre purchased housing units and issue subsidies of up to S $160000.

| search Xiaopo life in wechat   After the outbreak of coronary disease, the construction industry was impacted, and the construction cost increased by 20-50%.

They will also notify the affected homeowners of the revised completion date immediately after appointing a new contractor to take over and drawing up the construction schedule.

A construction company chose to stop the site operation because it was unable to keep up with the progress of the project.

The two construction companies are greatarthcorporationpte Ltd and greatarthconstructionpte Ltd.

Slab Prop Nut

The company has no financial resources to continue its operation.

The authorities also pointed out that before this, there was no sign of a slowdown in the engineering projects in the charge of the company, or a sudden reduction in building materials or employees.

The Housing Authority pointed out that the administration would try its best to introduce alternative contractors and ensure that the safety and quality of the project would not be affected.

The authorities have also actively taken measures to help the company break through difficulties, including advance payment, but they have not helped.

The 2982 units originally expected to be completed between the fourth quarter of this year and the second quarter of 2023 will be postponed again( According to a report, the Housing Authority said that the two construction companies had informed the authorities last week that the companies had financial difficulties and could not complete these projects even with the assistance of the government.

Related reading: rising, the transaction price of group housing in Singapore has reached a new high! The resale price of group homes in Singapore has risen for five consecutive quarters! More than 8000 new units will be launched by the end of the year.


Related Post