Work to develop two land sites in Marina South and Ophir-Rochor, the result of the land swop deal between Singapore and Malaysia, is expected to commence next year.
The S$11 billion developments — comprising apartments, offices, shops and hotels spread across 501,020 sq m of land in two main areas of downtown Singapore, including Malaysia’s former train station land — are expected to be completed in six years.
According to a joint statement, Singapore’s Temasek Holdings and Malaysia’s Khazanah Nasional, which will develop the project through a joint venture (JV) company called M+S, are in the midst of discussions with banks to provide funding for the projects.
It noted that M+S has appointed key consultants and architects for the Marina South and Ophir-Rochor developments and that the project managers have already submitted the designs for planning approval.
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