GuocoLand Malaysia awards RM431.1 million contract to Ssangyong
Aug 08, 2011
GuocoLand (Malaysia) Bhd, the property arm of the Hong Leong Group, has awarded Ssangyong Engineering & Construction Co., Ltd. (Ssangyong E&C) a RM431.1 million construction contract for Parcel 1 of the integrated Damansara City project.
The contract, involving the construction and completion of two luxury condominium blocks, six-level elevated car park and 5-6 levels of basement of the proposed mixed development project in Damansara Heights, was awarded to Ssangyong E&C on Thursday (Aug 4), six working days after the contract tender was closed on July 27.
Ssangyong E&C was the lowest tenderer among four construction firms which tendered for Parcel 1 of the Damansara City project.
The contract awarded to the Korean construction and engineering firm is the first of two parcels for GuocoLand Malaysia’s flagship project. The mixed development project includes two office towers, a five-star hotel, a four-level lifestyle mall apart from the two condominium blocks.
The new iconic landmark in the upscale Damansara Heights neighbourhood will have a gross built-area of about 2.2 million sq ft on a freehold 8.5-acre site, adjacent to Damansara City Centre.
In January, Prime Minister Dato’ Sri Mohd Najib Tun Razak had announced Damansara City as one of the key entry point projects under the Economic Transformation Programme to transform Malaysia into a high-income nation by 2020.
