GRC unit bags S$30.38m construction contract in Australia

The construction will last for 16 months.

GRC Limited’s subsidiary, GRC Buxton Pty Ltd, has secured a S$30.38m (AU$36.6m) design and construction contract from HousingFirst Ltd.

In a regulatory filing, GRC said the deal relates to the design and construction of a three-storey social housing development comprising 68 apartments, including a basement level, associated communal amenities, and external landscaping works, located in Balaclava, Victoria, Australia.

“In connection with the award of the Contract, the Company will be providing a deed of guarantee and indemnity in favour of HousingFirst Ltd to guarantee the due performance and obligations of its subsidiary, GRC Buxton Pty Ltd, under the Contract,” GRC said.

Construction will run for 16 months, with works scheduled to commence in August 2025.

The contract is expected to contribute positively to the net tangible assets and earnings per share of GRC for the current financial year ending 30 June 2026.

AU$1 = S$.83