JV of Khazanah Nasional & Temasek Holdings awards $2 billion deals to Japanese and Korean firms
M+S, the joint venture firm between Khazanah Nasional and Temasek Holdings, has awarded construction contracts worth over $2 billion to a Japanese contractor and a Korean consortium of builders for work on its two mixed-use development projects in Singapore.
One contract was awarded to Japan-based Obayashi Corporation for the building of the Ophir-Rochor located DUO, while another contract was clinched by a Korean consortium of Hyundai Engineering & Construction and GS Engineering & Construction to build the Marina South located Marina On.
Construction for both DUO and Marina One is expected to start later this year. Initial piling works for DUO have been completed, while piling for Marina One is scheduled for completion this year.
Both projects are expected to be completed in 2017.
The DUO project consists of DUO Residences – which is a 49-storey residential block that will house 660 apartments on a 99-year leasehold tenure, and DUO Tower that is made up of a 39-storey commercial and hotel complex.
Besides, it will also have a retail gallery on the ground podium called DUO Galleria, which will come with a basement carpark. The entire project has a gross floor area (GFA) of 1.73 million sq ft.
On the other hand, Marina One will have two 30-storey office blocks called Marina One East Tower and Marina One West Tower. It will consist of two 34-storey, 99-year leasehold residential blocks with 1,042 apartments, and a retail podium. Its total GFA is 3.67 million sq ft.
Source copied from: http://www.iproperty.com.sg/news/7553/JV-of-Khazanah-Nasional-&-Temasek-Holdings-awards-$2-billion-deals-to-Japanese-and-Korean-firms-