쌍용건설

Ssangyong Engineering & Construction (President: Kim Suk-joon) reported that it recently won the $81.34 million Oceanfront @ Sentosa Cove Condominium Project on a Design & Build basis, pushing aside big-name rivals, such as, Kajima of Japan, Dragages of France and Woh Hup of Singapore.

The apartment complex comprised of 264 units in five 11~15 story buildings is to be built in a high-end seaside residential area on Sentosa Island, which is being developed as a resort by the Singaporean government. The construction cost comes as high as KRW6 million per pyeong (=3.3 square meters), though it has no heating facility installed. The cost is two and half times higher than prize-winning Changi Rise Condominium built by Ssangyong in 2004.

CDL（City Developments Ltd., the client for the project）, is one of the largest real estate investment/development firms in Singapore, which runs 89 hotels in 12 countries all over the world and purchased the Hilton Hotel, the Central Building and City Tower Building in Seoul.

Ssangyong has maintained steady business relation with the Singaporean real estate firm through projects, such as, Changi Rise Condominium (Ssangyong won a prize for it from the Singaporean government), Peirce Villas (whose price per unit comes to KRW6 billion), Tanglin Park Condominium, and Casa Rosita Condominium.

A Ssangyong official said, “Ssangyong has built a total of high-end buildings worth $2.2 billion in Singapore alone. We could win the new project as the client recognized our ability and credit. Along with the $180 million highway project we won in India, the new order for a luxurious apartment will help us regain the past glory as a first-rate building contractor.”
Landmark buildings built by Ssangyong: The Raffles City Complex in Singapore, which includes 73-story Swiss Hotel Stamford listed in the Guinness Book of World Records as the highest hotel in the world, and the 305m high Emirates Hotel and the Grand Hyatt Hotel, which are two of the three leading hotels in Dubai, the Hyatt Hotel in Guam, and the Inter-Continental Hotel in Bali, Indonesia. The company has built a total of more than 10,000 hotel guestrooms, ranking the second in the world in this area.