Two mega mixed-use projects jointly developed by Malaysia and Singapore are expected to be ready in 2017, after the developer M+S awarded two construction contracts amounting to S$2 billion.
DUO in the Bugis area will be built by Japanese Obayashi Corporation, while a Korean consortium of Hyundai Engineering & Construction and GS Engineering & Construction will be responsible for erecting Marina One in Marina South.
The two projects are the result of the 2010 land swap deal between Singapore and Malaysia, under which Malaysian railway land in Singapore was returned in exchange for four land parcels in Marina South and two in Ophir-Rochor.
Responding, M+S Chairman Tan Sri Azman Yahya said the appointment of the three contractors was another milestone for the two iconic developments. M+S is a 60:40 joint venture between Khazanah and Temasek.
Both projects have a total development value of S$11 billion and will comprise residential, office and retail components. DUO will also feature a hotel.
Construction for the two projects is expected to begin this year.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email email@example.com