Boustead Projects E&C secures Phase 2 fit-out contract exceeding $50 million from Fortune 500 client

Singapore-based Boustead Projects E&C, Boustead Singapore's engineering and construction business under its real estate solutions division, has been awarded a Phase 2 fit-out contract worth over $50 million (€43 million) by a repeat Fortune 500 client, The Edge Singapore reported.

The contract will see Boustead Projects E&C conducting fit-out works of over 5,500 square metres within the finished integrated manufacturing, logistics and office facility in Singapore. The company had already delivered the building in 2024.

This latest contract has raised Boustead Singapore's real estate solutions division's order backlog to $343 million (€295 million). The contract has also brought the Boustead Group's engineering order backlog to $506 million (€435 million). The figure comprises the group's unrecognised project revenue as at its first half FY2026 ended 30 September 2025 results plus the total value of new orders secured since then.

Thomas Chu, managing director of Boustead Projects E&C, said the company is honoured to have the continued trust of the client. "We are honoured to have the continued trust of our client and would like to thank them for engaging us again for an additional project phase," Chu said. "Having delivered several projects for this client, we remain committed to supporting their continued growth in Singapore."

The first phase of the integrated manufacturing, logistics and office facility for Boustead's client has achieved the Green Mark Platinum rating with two badges, Health & Wellbeing and Intelligence, under the Building & Construction Authority's revised Green Mark Certification Scheme 2021.

The contract is expected to materially impact Boustead Group's profitability and earnings per share for the financial year ending 31 March 2027.

Shares in Boustead Singapore closed 4 cents higher or 2.3 per cent up at $1.78 (€1.53) on 24 March.

Read the complete article on Boustead Projects E&C's Phase 2 fit-out contract award.