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One Raffles Quay consortium bids for Business and Financial Centre site
Posted: 11 July 2005
Cheung Kong (Holdings) Limited (“Cheung Kong”), Hongkong Land Holdings Limited (“Hongkong Land”) and Keppel Land Limited (“Keppel Land”), the developers of One Raffles Quay at Marina Boulevard have submitted the highest bid for the Business and Financial Centre site at the
New Downtown.
With portfolios of successful world-class properties, the partners have the experience and expertise to create a product advanced in design, construction and technology, and well-poised to cater to the needs of the international market.
For the tender submission, a new consortium was formed through three subsidiary companies, consisting of Cheung Kong’s Choicewide Group Limited, which is co-owned with Hutchison Whampoa Limited, Hongkong Land ’s Sageland Pte Ltd and Keppel Land ’s Bayfront Development Pte Ltd . All three subsidiary companies have equal shares in the joint venture.
The New Downtown is earmarked to be Singapore ’s international business and financial hub with office spaces, residential and convention amenities, shops and F&B outlets as well as arts, cultural and entertainment venues around Marina Bay .
The strategic location of this 3.55-ha site at the New Downtown opens up to prime views of Marina Bay and the proposed Central Open Space. The upcoming Integrated Resort in the vicinity will further complement this project and enhance its position as a global business and financial hub.
When completed, the development will be linked via its own underground pedestrian network to the Landmark MRT station of the Downtown Extension of the Circle Line as well as the Raffles Place MRT interchange, which serves the North-South and East-West lines. It will also add to the critical mass of three existing New Downtown projects including One Raffles Quay, a 1.3 million sf premier office development by the same partners.
Posted by Editor Pipeline Magazine
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