UPDATE 2.25pm: Shares in Diploma Group were firmer after the construction company announced it had won three new contracts collectively worth $66 million.
The projects include a $17 million contract for the construction of a mixed-use development in Mount Pleasant for new client Norup + Wilson, a $38 million appointment to construct 109 apartments in Port Coogee for long-term client TRG Properties and an $11 million Quest Serviced Apartment development on Mounts Bay Road in the CBD.
The Mt Pleasant development at 19 Ogilvie Road involves the development of 34 residences and 1800 sqm of office space.
The development consists of two basement levels of car park, two commercial levels of office and seven levels of residences.
Commencement on site is expected next month with completion in 58 weeks.
The North Coogee project is a nine-storey building with 109 one, two and three bedroom apartments with views of the Indian Ocean.
Work is expected to begin in October with the project taking nearly two years to complete.
It is the second contract for TRG Properties in the Port Coogee precinct, following the award of the $35 million Ocean Edge contract, which is due for completion in August.
The Quest contract at 130 Mounts Bay Road consists of 71 studio rooms over seven levels.
Work is expected to begin later this month with completion expected in 52 weeks.
Diploma shares closed up 0.2 cents, or 6.25 per cent, at 3.4 cents.