Canada Pension Plan Investment Board (CPPIB) and Longfor Properties (Longfor) have extended their cooperation to include two new mixed-use real estate development projects in Chengdu and Shanghai in China, for a total CPPIB commitment of RMB4.2bn ($665m).
China Railway Tunnel Group Co (Singapore Branch), a wholly-owned subsidiary of China Railway Group, has bagged a SGD310.8m ($229m) contract to build the Prince Edward Station and two tunnels on the Circle Line in Singapore.
CapitaLand Limited (CapitaLand), CapitaLand Commercial Trust (CCT) and Mitsubishi Estate Co (MEC) have established a joint venture to redevelop Golden Shoe Car Park (GSCP) into an integrated development in Raffles Place, Singapore.
Leighton Asia, a subsidiary of CIMIC Group, has been awarded an order worth AUD70.4M ($52.74M) by home furniture giant IKEA to build its first flagship store in Hyderabad, India.
TCC Assets (Thailand) and Frasers Centrepoint Limited (FCL) have joined forces to build an integrated district in Bangkok [pictured], Thailand.
Radius Group will construct a new warehousing and logistics centre in the Domodedovo district of Moscow, for Auchan Retail Russia.
UAE-based retailer Lulu Group is set to invest in a shopping mall, hotel and international convention centre in Thiruvananthapuram, the capital city of Indian state Kerala.The $300M four-storey development will be spread over 19 acres, with a built up area of over 186,000sq m, including a 150-room luxury hotel. Once completed it will be the second biggest shopping mall in India after the LuLu mall in Kochi (pictured) — also owned and managed by Lulu Group, and which was designed by WS Atkins and constructed by Shapoorji Pallonji.The new project — designed by UK’s Design International — will include several fashion and retail brands, an amusement centre, a nine-screen multiplex, a food court with a capacity of 3,500 guests, restaurants, and coffee shops. It will also include parking space for 3,000 cars.The mall is expected to open in 2019.
Grand River Development, managed by Riant Capital, has unveiled plans for a $1.1bn mixed-use commercial tower in Taipei, Taiwan. The Taipei Sky Tower will be located adjacent to Taipei 101 in Taipei’s prime Xinyi District and will feature a retail podium, a luxury hotel, a lifestyle hotel and a theatre house. The 54-storey tower will measure more than 260m in height and include 93,000sq m in combined floor area. Riant Capital’s CEO Aaron Chan said: “Due to the unique location and street front exposure of the site, we are able to re-create a new whole pedestrian block comprising independently operated retail and F&B flagship/concept stores that one typically finds in major international cities such as New York, Tokyo or Hong Kong. “We believe that this pedestrian shopping experience will offer consumers an attractive alternative to the traditional department store concept and that our innovative approach will further enhance Taipei Xinyi District’s status as a premium business and retail centre in Asia.”
Leighton Asia’s subsidiary Leighton India Contractors has signed an AUD223M ($169.5M) contract to deliver phases two and three of a mixed-use development in Mumbai, India.The development, known as Maker Maxity, is located in the Bandra Kurla Complex, and its phases two and three will include the development of retail and hospitality facilities.The scope of the work includes structural and civil works, mechanical, electrical and plumbing services, lifts and escalators, façade, finishes and external works for the facilities.Leighton Asia’s managing director Manuel Alvarez Munoz said: "We are delighted to have secured our first major project with the Maker Group, one of India's most prestigious developers."Leighton Asia will bring its international experience, wealth of local knowledge and commitment to safety and quality to facilitate the timely completion of this major project."Work has commenced in June 2016, and is scheduled to be complete in mid‐2019.
The 35m-deep foundation for a $300M mixed-use complex in Sri Lanka is nearing completion.Designed by Gensler and developed by ITC Limited subsidiary WelcomHotels Lanka Private Limited, the complex will include about 350 rooms on 25 floors in the first phase, over 130 luxury residences on 50 floors comprising master penthouses, penthouses, four-, three- and two-bedroom apartments, banqueting and cuisine experiences, as well as retail and serviced office spaces.The project, named ‘ITC One, Colombo 1’, will generate direct employment for around 800 people and indirect employment for another 400 people in its various components. WelcomHotels Lanka managing director Arun Pathak said: "The ITC One, Colombo 1 is a very exciting development, creating an international icon for Colombo, offering the best international quality in hospitality and residences."It truly represents the splendour of gracious living. It is set to be an employment-multiplier and will undoubtedly become a vibrant symbol of Sri Lanka’s resurgent economic growth."
Gammon Construction, an equal stake joint venture of Balfour Beatty, has secured a contract worth HKD1.6bn ($206m) from Hysan Development Company to build the Lee Garden Three project in Causeway Bay, Hong Kong.The project will involve the construction of 20 levels of Grade A offices sitting atop a five-storey retail podium of shops and a range of food and beverage establishments. It will feature a five-level basement, with about 200 parking lots.Owned and developed by Hysan, Lee Garden Three project will be built on the former site of Sunning Plaza and Sunning Court. It will be part of Hysan’s cluster of commercial buildings in Causeway Bay, fronting Hysan Avenue.The company will use latest construction technologies such as Building Information Modeling, 4D modeling and 3D scanning to enhance the project’s environmental friendliness and construction efficiency.The project is scheduled to be completed in late 2017.Gammon CEO Thomas Ho said: “We are delighted to have been selected by Hysan as the construction partner of this redevelopment project. Our team is committed to delivering maximum efficiency, a smooth running project and minimal disruption to the public.”
Goodman Group has commenced the second stage of development of the $1.5bn Goodman Business Park in Chiba Newtown, Japan.
Larsen & Toubro’s (L&T) construction division has secured contracts with a combined value of INR16.72bn ($248.3m) across various businesses.The company’s building and factories business has won contracts worth INR9.67bn ($143.6m). These include an EPC contract for a multi-storied residential project in Lucknow, Uttar Pradesh, India. The scope of the contract, awarded by UP Avas Vikas Parisad, will include civil, structural, mechanical, electrical, plumbing and finishes. The business has also secured a turnkey contract from a Mumbai developer to build a multi-storied residential building and retail space. The scope of the work will include civil, structural, mechanical, electrical, plumbing as well as finishes.L&T’s power transmission and distribution business has won contracts valued at INR5.8bn ($86.1m) in the international markets. These include an EPC contract in Ethiopia for construction of a 400/230/15 kV substation, as well as three 230/15 kV substations at various locations. The project, awarded by Ethiopian Electric Power, has secured financing from the French Development Agency.The business has also received another EPC contract in South East Asia to build a high-voltage substation.In addition, L&T Construction’s Water & Effluent Treatment Business has secured order worth INR1.25bn ($18.6m).
Ssangyong Engineering & Construction’s Dubai unit and China State Construction Engineering (Middle East) have secured a contract worth AED1.4bn ($381.1m) from Nakheel to build The Palm Gateway at Dubai’s master development Palm Jumeirah.
Dubai developer Nakheel has signed a joint venture agreement with RIU Hotels & Resorts to develop a $170m hotel at Nakheel's Deira Islands master development.