M+S Pte Ltd, a 60:40 joint venture between Khazanah Nasional Bhd and Temasek Holdings, has awarded two contracts worth over S$2 billion (RM5.2 billion) to the principal contractors for its mixed-use developments in Singapore – DUO in Ophir-Rochor and Marina One in Marina South.
The two contracts were awarded to Japanese Obayashi Corp for DUO and a Korean consortium of Hyundai Engineering & Construction and GS Engineering & Construction for Marina One.
M+S chairman Tan Sri Azman Yahya in a statement yesterday said the appointment of the three reputable contractors marked another significant milestone for the two iconic developments.
He said construction for the two developments is expected to start this year. Initial piling works have been completed at DUO and piling for Marina One is scheduled for completion this year.
When completed in 2017, both developments will complement and enhance the new growth areas of Ophir-Rochor and Marina South with their unique offerings.
"DUO is set to take its place as the civic nexus of Bugis and as the largest integrated development within the arts, cultural and educational precinct. Marina One's lush greenery and flowing waterfalls in its green heart will be a sanctuary for urban dwellers in Singapore's new Central Business District (CBD)," said M+S.
M+S was set up on June 2011 to develop four parcels of land in Marina South and two plots of land in Ophir-Rochor within Singapore as the integrated developments Marina One and DUO respectively.
The DUO development features DUO Residences comprising a 49-storey residential block of 660 units, DUO Tower encompassing a 39-storey commercial and hotel complex, and DUO Galleria, a unique retail gallery with basement carparks.
Marina One, meanwhile, encompasses two 30-storey office blocks (Marina One East Tower and Marina One West Tower), Marina One Residences which comprises two 34-storey residential blocks of 1,042 units, four basement levels, an underground pedestrian network and an ancillary road network.
The Sun Daily