쌍용건설

On October 16, Ssangyong Engineering & Construction (Chairman&CEO: S. Joon Kim) announced that it has won the design & build work for a deluxe W Singapore - Sentosa Cove Hotel(for 150 billion won [=$130 million]).the first step of business taken in Singapore by CDL (City Developments Limited), the largest real estate developer in the city state.

The W Singapore - Sentosa Cove Hotel, which is also well known in Korea, is part of the Quayside Collection Development Project comprised of a deluxe condo, an office building and commercial facilities being carried out by CEL on Sentosa Island.

The 7-story, 241-guestroom hotel with a basement will be built along the coastline of Sentosa Island. After completion of the work, it will look like two buildings being split by ocean waves. It will be equipped with a 500-seat banquet hall, a yacht pier, a plush restaurant, a swimming pool and a private spa.

It will be a highly energy efficient and environmentally-friendly hotel with the following features: low-E glass, which radiates (emits) low levels of radiant energy, will be installed for the windows of the building a type of roof membrane that will minimize energy consumption, noise and vibration a facility for recycling rainwater.

The client, CDL is a subsidiary of the Hong Leong Group, which is the largest business in Singapore. CDL is the largest real estate development business in Singapore operating 110-plus hotels in 18 countries, including the Hilton in Seoul.


It is reported that the Client decided to carry out the project on a private contract basis based on its trust in Ssangyong’s capability as a contractor for deluxe buildings, although it was expected that many world-famous construction firms would compete for the first work carried out by a world-class hotel in Singapore.

Ssangyong has won the solid trust of CDL by successfully carrying out a total of 8 projects worth $300 million, including Ocean Front Condominium, a first-rate residential facility to be completed within this year.

Ssangyong Chairman&CEO Kim, S.Joon is also said to have maintained a close friendship with the owner of the Hong Leong Group, while acting as the Chairman of the Korea-Singapore Economic Cooperation Committee over the past decade. Chairman&CEO Kim is known to have many friends among politicians and business people who are ethnic Chinese in Southeast Asian countries.

A Ssangyong Engineering & Construction official said, “When we held the ceremony for putting up the ridge beam for the Marina Bay Sand Hotel Singapore in early July, more than 200 reporters came to cover the event. Thus, our name as a world-class builder was known all over the world once again. The private contract for the W Singapore - Sentosa Cove Hotel is expected to put us in an advantageous position to win more contracts for work in the office and commercial building market.”

In addition to the aforesaid the 55-story Marina Bay Sand Hotel Singapore (three buildings with a total of 2,500 guestrooms), which is the largest building project ever carried out by a Korean business, the Company built the 73-story Swissotel The Stamford Singapore that was registered as the world’s highest hotel in the Guinness Book of World Records, as well as two of the three leading hotels in Dubai. The Company has built hotels with a total 13,000 guestrooms, ranking the world’s No.2 (in 1998).

Since it entered the Singaporean market in 1980, the Company has won contracts amounting to 5.1 trillion won (=$4.3 billion) in 36 cases. At present, it is carrying out five building projects worth 2.5 trillion won (=$2.1 billion) in the city state.