Ssangyong E&C wins record $2.15b Singapore hospital contract

Ssangyong Engineering & Construction has won a sole contract to build the Tengah General Hospital in Singapore, commissioned by the country's Ministry of Health, in what the company says is the largest single-project award in its history.

Ssangyong E&C announced Thursday it secured the contract for approximately $2.15 billion, a sum that far exceeds the company's annual sales. Last year, Ssangyong E&C posted consolidated sales of 1.8 trillion won ($1.31 billion) and operating profit of 64.3 billion won.

The hospital, to be built in the Tengah district in western Singapore, will comprise seven buildings with three below-ground and nine above-ground floors, totaling 1,534 beds. The total construction period, including the design phase, is 63 months. Designated as a key national healthcare infrastructure project for western Singapore, the facility will be operated by the National University Health System. It is planned as a large integrated medical campus incorporating cutting-edge clinical research and digital healthcare solutions.

Eleven companies entered the bidding process. Ssangyong E&C was the only Korean construction company to pass the pre-qualification screening, and four firms ultimately competed in the final round. Although it did not submit the lowest bid, the company was selected after outscoring Japanese and Chinese rivals in technical evaluations covering design quality, construction risk management and hospital-project track record.

Ssangyong E&C said the win is particularly significant because it was secured on the strength of technology rather than price. Hospital construction demands a high level of precision given its direct link to patient safety, and is classified as a highly complex building type — one that requires comprehensive consideration of mechanical systems, patient and staff circulation, and vibration and noise control.

"This project marks the first time the Singapore government has issued a full design-and-build contract covering every phase from design to construction, which makes it enormously meaningful for construction companies operating in Singapore," a Ssangyong E&C official said. "It is the result of having our technical competitiveness — not our price — recognized, built on years of hospital construction experience accumulated in Singapore." The official added that the company plans to further strengthen its position in the Singapore construction market through a successful completion of the project.

Ssangyong E&C has built up extensive local experience in Singapore through major architectural and healthcare projects. Its portfolio there includes the Marina Bay Sands hotel — an iconic structure often likened to a modern Leaning Tower of Pisa — as well as Raffles City, the W Hotel and the Grand Hyatt Hotel.

In the hospital sector, the company successfully completed Woodlands Health in 2024, KK Women's and Children's Hospital in 1999 and Tan Tock Seng Hospital in 1998. It is currently working on the Alexandra Hospital project.

Meanwhile, since joining the Global Saea Group in December 2022, Ssangyong E&C has been improving its business performance with the group's backing. The company has expanded its overseas order book — securing six large international projects in Dubai since 2023 worth around 1.4 trillion won ($1.02 billion) — while stabilizing its domestic and overseas project portfolio and improving both sales and profitability.

Operating profit has risen for three consecutive years. The company's construction capability ranking climbed from 33rd in 2022 to 19th in 2026, a rise of 14 places.