ISOTeam, the building maintenance and estate upgrading player, has secured 25 new contracts worth a total of $36.4 million. These latest project wins have strengthened the group’s order book to $188.7 million to date.
The contracts include three Addition and Alteration (A&A) projects in Sembawang GRC worth $10.2 million to be completed by June 2026; two Repair and Redecoration (R&R) projects in Pasir RisPunggol and Tampines GRCs for a cumulative 75 blocks valued at $8.7 million to be completed by August 2026; and 16 Coating and Painting (C&P) projects for residential and educational buildings totalling $15.8 million to be completed by March 2029. The latter includes works for the National University of Singapore and a new primary school at Tengah Avenue Garden.
The group also won two Interior Design (ID) jobs worth $0.6 million and two landscaping contracts valued at $1.1 million which are expected to be completed by June 2025 and October 2026 respectively.
Group executive director and CEO, Anthony Koh says: “We see strong growth momentum in our order book, driven by government-led upgrading projects in mature estates. Key opportunities up ahead for ISOTeam include HDB’s Green Towns Programme, which will roll out heat-reflective paint to all HDB estates by 2030, and Singapore’s expanding housing stock, with 102,300 Built-to-Order flats launched from 2021 to 2025. With mandatory repainting every five years, these initiatives create significant growth opportunities for us."
Shares in ISOTeam closed at 6.2 cents on Feb 7.
