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Winning the Construction for the Boutique Center at W Singapore Sentosa Cove Hotel
2011-01-14
The Boutique Center will be linked to the W Hotel, which is under construction
… The contract volume is 35 billion won
A Luxurious building with a construction cost of 20 million won per 3.3㎡ even though the construction scale is small
The order was placed with Hong Leong Group, Singapore’s largest company and so an overseas business network that has lasted for 30 years has borne fruit.
Ssanyong Engineering & Construction Co., Ltd. (Chairman & CEO, S. Joon Kim) said that it became the single contractor for the project to construct the Boutique Center at the
W Singapore Sentosa Cove Hotel. The project is based on a design and build concept and the contract volume is about 31 million dollars (about 35 billion won).
The Boutique Center, where world’s luxurious brands and restaurants will be located, will be linked to the W Singapore Sentosa Cove Hotel, which is currently under construction by Ssanyong Engineering & Construction Co., Ltd. The center will be a 1-story basement and 2-story building, which will be linked to the Hotel while not spoiling the oceanic view. The construction is scheduled to be completed in April 2012.
The outstanding feature of the construction is that the best interior and finishing materials will be used so that the construction cost per 3.3㎡ will be more than 20 million won, which is 7 times higher than that of a high-rise apartment in Korea.
In addition, the Boutique Center will be an efficient and environmently friendly building where low-E glass for minimizing heat conduction, solar panels, and wind turbines will be installed.
The project owner is City Developments Limited (CDL), a subsidiary of Singapore’s largest company Hong Leong Group. CDL is one of the largest real estate developers running 110 hotels in 18 countries including the Hilton Hotel Seoul.
W Hotel, which is also a well-known hotel in Korea, is a luxurious hotel with 50 chains in 20 countries. In 2009, Ssanyong Engineering & Construction Co., Ltd won the project to construct the W Singapore Sentosa Cove Hotel for 130 million dollars (about 150 billion won) based on negotiation.
Currently, Ssanyong Engineering & Construction Co., Ltd. Is implementing 3 projects worth 1.4 trillion won (about 1.3 billion dollars) in Singapore alone.