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Old June 27th, 2011, 01:44 PM   #1
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Marina One | M+S | U/C | 2017

We might be hearing more news about this project soon. M+S Pte Ltd will be formed by 30th June 2011.

JV firms to develop Singapore, Iskandar land

http://www.themalaysianinsider.com/m...iskandar-land/

PUTRAJAYA, June 27
— Malaysia and Singapore will form joint-venture company M+S Pte Ltd by the end of this month to jointly develop six land parcels in Singapore that were exchanged for Keretapi Tanah Melayu Bhd (KTMB) land in the republic.

The company, 60 per cent owned by Khazanah Nasional Bhd and 40 per cent owned by Temasek Holdings Ltd, will develop parcels in Marina South and two parcels in Ophir-Rochor as an integrated development.
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Old June 27th, 2011, 01:47 PM   #2
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Taken from another thread "NEW DOWNTOWN at Marina Bay"

Quote:
Originally Posted by don diego 2000 View Post
Preview of the swapped land parcels from Channel News Asia:

* Marina Bay parcels

Quote:
Originally Posted by spikeshamz View Post
Taken from channel newsasia.. It says the buildings heights and restrictions..

M-S likely to seek joint venture with established developer

The Marina South site, which will be among the six land parcels to be jointly developed by M-S Pte Ltd.

With the land swap agreement between Singapore and Malaysia settled, market watchers have said the company in charge of developing the land parcels would likely seek a joint venture with an established developer.

The joint company, M-S Pte Ltd, is 60 per cent owned by Malaysia's Khazanah Nasional. The rest of it is owned by Temasek Holdings.

The Marina South site will be among the six land parcels to be jointly developed by M-S Pte Ltd. The other site is at Ophir-Rochor.

Both areas are white sites, which means they can be used for mixed developments like a combination of retail, residential and office space.

Market watchers said the sites could be put up for sale but they believe M-S Pte Ltd would prefer a joint venture with an established player.

SLP International executive director of research and consultancy Nicholas Mak said: "(The) M-S development will probably have a more active role after the two parcels of land are injected into its portfolio, so they can still participate in the development of these two sites and perhaps guide in the future development.

"Another reason is that there will be other joint ventures in Iskandar Malaysia, between Singapore and Malaysia. So (these) two sites can also be part of that bigger portfolio".

The four parcels at Marina South have up to a gross floor area of 341,000 square metres.

Experts said this could accommodate a 50-60 storey building with a gross plot ratio of 13.

The two land parcels at Ophir-Rochor have a gross floor area of about 160,000 square metres. This could possibly accommodate a 25-storey building with a plot ratio of six.


Observers also expect developments at the Tanjong Pagar area once the railway station is relocated to Woodlands by July next year.

"The present railway track cuts across Singapore from north to south," Mr Mak said.

"With its removal, there will be parcels of land formerly divided (by) the railway track (that) could be amalgamated, and their true market potential could be realised.

"For example a larger parcel of land could have greater flexibility in its development and therefore realise a higher market value."

The land swap deal is part of the Points of Agreement (POA) signed in 1990 between Singapore and Malaysia.

-CNA/wk

In my point of view, we should not be expecting a supertall in the Rochor-Ophir district then since its only 25 storeys tall..What we should expect is a beautiful culturally designed building.
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Old June 27th, 2011, 01:59 PM   #3
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http://news.asiaone.com/a1media/news...inabayland.jpg

It looks like in future, there will be at least 4 MRT stations in the vicinity.

Land to be given to Malaysia worth billions: analyst


http://www.asiaone.com/Business/News...22-238377.html

Extracts from the article:

"The prime pieces of land Singapore will give a Malaysian-led consortium to resolve a long-standing dispute is worth up to $7 billion (estimated in Sept 2010), a leading property analyst said Tuesday."

"The one at Marina (South) can range from $3.5 billion to $5 billion (estimated price in Sept 2010)," he told AFP.
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Old June 27th, 2011, 04:31 PM   #4
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Correct me if I am wrong. The Marina South's 4 land parcels to be developed jointly is presently sitting at where the 'temporary slip roads' are, no?

If that is so, even if the M-S Pte Ltd wants to fence up the land parcel, it is not possible as part of the ECP from Prince Edward/Maxwell Road and the slip roads are currently occupying part of the land parcels?
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Old June 28th, 2011, 05:03 AM   #5
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Quote:
Originally Posted by Brandonn View Post
Correct me if I am wrong. The Marina South's 4 land parcels to be developed jointly is presently sitting at where the 'temporary slip roads' are, no?

If that is so, even if the M-S Pte Ltd wants to fence up the land parcel, it is not possible as part of the ECP from Prince Edward/Maxwell Road and the slip roads are currently occupying part of the land parcels?
How long will the temporary slip road be in operation. I think as this project is quite large and backed by government funds, it will not progress as fast as private projects.
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Old June 28th, 2011, 05:05 AM   #6
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Temasek, Khazanah tie-up in projects worth S$12.2b



http://www.todayonline.com/Business/EDC110628-0000295/Temasek,-Khazanah-tie-up-in-projects-worth-S$12,2b

SINGAPORE - Singaporean investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional yesterday announced they would jointly develop prime land parcels in both countries in projects worth about S$12.2 billion.

The move comes as the two countries sealed the Points of Agreement on Malayan railway land in Singapore. The two investment giants have established two subsidiaries - M+S and Pulau Indah Ventures - for the purpose. M+S, in which Temasek has a 40-per-cent stake and Khazanah the other 60 per cent, will develop sites in Marina South and the Ophir-Rochor area in Singapore.

The sites will be transformed into integrated developments that will include office, residential, hotel and retail components with a gross floor area of up to 501,020 sq m. The projects are estimated to cost S$11 billion.

A wholly-owned subsidiary of UEM Land Holdings, a real estate company within Khazanah's portfolio and a wholly-owned unit of Mapletree Investments, a Temasek portfolio company, have been appointed to oversee the marketing and development of the project at Marina South.
For the Ophir-Rochor site, UEM Land and a wholly-owned unit of CapitaLand, another Temasek portfolio company, have been appointed to oversee the marketing and development. CapitaLand has appointed chief operating officer Lim Ming Yan to lead key projects for the site, between the Kampong Glam Historic District and the Beach Road Conservation Area.
Meanwhile, Pulau Indah, an equal joint venture between the two investment firms, will develop two sites in Iskandar Malaysia - Medini North and the Heritage Cluster in Medini Central. Work on the projects, covering a vast 1.36-million sq m area and estimated at RM3 billion (S$1.2 billion), began in the first quarter of this year.

Pulau Indah will develop serviced apartments, a corporate training centre, and commercial, retail, residential and wellness-related offerings on these sites.

Last edited by SingaporeCity; June 28th, 2011 at 03:21 PM.
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Old June 28th, 2011, 05:17 AM   #7
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cant wait to see the renders of the projects
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Old June 28th, 2011, 05:30 PM   #8
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Would be great if it could be a cultural venue too
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Old June 28th, 2011, 05:43 PM   #9
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Quote:
Originally Posted by redstone View Post
Would be great if it could be a cultural venue too
Agreed, but I got a feeling it will be a development that will maximize profits.
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Old June 28th, 2011, 07:21 PM   #10
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Quote:
Originally Posted by redstone View Post
Would be great if it could be a cultural venue too
What's with having everything "cultural"?

Besides that, what "cultured stuff" might a Malaysia-Singapore joint venture development display? Singaporean culture? Malaysian culture?
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Old June 28th, 2011, 08:21 PM   #11
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Quote:
Originally Posted by ddes View Post
What's with having everything "cultural"?

Besides that, what "cultured stuff" might a Malaysia-Singapore joint venture development display? Singaporean culture? Malaysian culture?
It should also not explicitly show that its a country-country / culture-culture joint venture. It must not physically display it, it would become ultimate cheesiness. What I mean is, have a small auditorium, places where events, exhibitions can be held.
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Old June 29th, 2011, 04:40 AM   #12
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As can be seen in the report below, UEM which has just acquired Sunrise (a high end developer based in KL which is well known for getting good returns for its shareholders) will leverage on its expertise. Singapore has also engaged MapleTree to oversee the marketing and development of four parcels of land. And being a white site development, with Khazanah having 60%, I'm quite sure it will be a profit maximising one.

Construction works are expected to commence in June 2012 with completion estimated in mid-2016.



UEM Land to leverage on Sunrise expertise and S’pore infrastructure

http://biz.thestar.com.my/news/story...0&sec=business

PETALING JAYA: The coming together of Khazanah Nasional Bhd and Temasek Holdings to develop RM30bil worth of real estate projects in Singapore and Iskandar Malaysia will help UEM Land Holdings Bhd make a great leap forward, both financially and in terms of branding, say analysts.

The tie-up also puts into focus why UEM Land launched an RM1.4bil takeover of property developer Sunrise Bhd, which was completed early this year.

“We believe UEM Land will be able to leverage on Sunrise's expertise in lifestyle integrated developments to take on the proposed developments. As such, Sunrise will be taking the lead on behalf of UEM Land in undertaking these development projects,” said an OSK Research report.

UEM is among the top landowners in Iskandar Malaysia, with 1,300 acres of development land in the southern economic corridor. Among the several economic corridors spearheaded by the Government, Iskandar Malaysia remains the most upbeat and vibrant. In many ways, according to analysts, the alliance of the two government investment holding companies is expected to be a win-win proposition for both sides.

As a result of the Khazanah-Temasek joint venture (JV), UEM Land, together with Mapletree Investments Pte Ltd, have been appointed to oversee the marketing and development of four parcels of land at Marina South in Singapore.

UEM Land is the property arm of Khazanah, while Mapletree Investments is one of Temasek's two real estate portfolio companies. The other Temasek property company is CapitaLand group.

The planned mixed-use development on the 2.62ha white site at Marina South would comprise two office towers with ancillary retail and two blocks of residential towers with a combined gross floor area (GFA) of 341,000 sq m, a statement from the Mapletree website said.

Located on adjoining sites behind the Marina Bay Financial Centre in the new financial and business cluster of Downtown Marina Bay, the development will be positioned between the proposed linear park and a major public open space above the Marina Bay MRT station. Its proximity to the Marina Bay and future Downtown MRT stations will ensure that it is well served and easily accessible.

Construction works are expected to commence in June 2012 with completion estimated in mid-2016.

At the same time, UEM Land will work with CapitaLand to oversee the Ophir-Rochor project in Singapore, located between the Kampong Glam Historic District and the Beach Road Conservation Area, in a new growth area envisioned to become a 24/7 mixed-use cluster. Like the Marina South parcels, the Ophir-Rochor parcels also have excellent connectivity.

By virtue of having Khazanah as an ultimate controlling shareholder, UEM Land (as with both Mapletree and CapitaLand in relation to Temasek) will be playing a huge role in this JV.

Sunrise, with its expertise and tangible portfolio of high-rise and high-end condominium in Mont'Kiara, will also have a huge role to play.

Hong Leong Research said: “UEM Land's business model is primarily a two-pronged strategy of developing townships and niche projects townships for stable income, complemented by niche projects to achieve enchanced growth and market branding. The bulk of its land is in Johor.”

With Khazanah's JV, UEM Land's opportunities have now broadened to include Singapore, where real estate is hot.

A UEM source said the success of Iskandar Malaysia is due to its proximity with the city state and its tremendous infrastructure, both economically and physically. Besides being a service and financial hub, it has an integrated transport system and other infrastructures like no other in South-East Asia.

“We are leveraging on Singapore's tremendous connectivity. When we sell Iskandar, potential investors always ask how many flights do we have in Iskandar Malaysia out to London? We ask them in return how many flights do you want?

“The issue is not how many flights our domestic airport in Johor has, but how many flights does Changi Airport have? That is how close geographically we are to Singapore. Multiply that with the whole range of services that Singapore offers and you have the big picture. When we sell Iskandar, we are not just selling Johor; we are selling Johor and Singapore,” said the source.
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Old June 29th, 2011, 06:49 PM   #13
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Part of the plot "A4" is occupied by ECP
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Old September 21st, 2011, 03:41 PM   #14
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I posted this pics in another thread.

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Btw, if you can't see the images I posted, I have deleted them.

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Old October 19th, 2011, 03:27 PM   #15
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Here are some pics I took of the site. It seems that there are more SI than the previous time I was there.


https://fbcdn-sphotos-g-a.akamaihd.n...97883330_n.jpg

https://fbcdn-sphotos-e-a.akamaihd.n...03567740_n.jpg
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Old November 17th, 2011, 12:47 AM   #16
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Here is news article that was posted by nazrey in the Malaysian sub-forum.


Quote:
Originally Posted by nazrey View Post
Khazanah, Temasek said to seek S$5b loans
Published: 2011/11/16
http://www.btimes.com.my/Current_New...cle/index_html

Khazanah Nasional Bhd and Temasek Holdings Pte, the state-owned investment companies of Malaysia and Singapore, hired banks to arrange S$5 billion of property development loans, according to two people familiar with the matter.

Eight lenders will contribute to the five-year bullet facility, which will pay a so-called all-in fee of 100 basis points over benchmark rates, one of the people said, asking not to be identified as details are private.

The eight banks are DBS Group Holdings Ltd, HSBC Holdings plc, Oversea-Chinese Banking Corp, Malayan Banking Bhd, Bank of Tokyo-Mitsubishi UFJ Ltd, Standard Chartered plc, Sumitomo Mitsui Banking Corp and United Overseas Bank Ltd, the person said.

Khazanah and Temasek said in June they would jointly develop US$9.8 billion of projects in southern Malaysia and downtown Singapore. Some S$11 billion of Singapore developments will include hotels, apartments, offices and shops in 501,020 square metres of space in two main areas of the city’s downtown, the two companies said in a June 27 statement.

The RM3 billion of projects in Malaysia’s Iskandar region will have homes, retail space and “wellness-related offerings,” the companies said.


Banks are currently working through internal credit approvals and the loan is expected to be signed in the new year, the person said. -- Bloomberg
BTW, my 2900th post!!
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Old November 17th, 2011, 04:26 AM   #17
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In other words, nothing new we haven't heard.
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Old January 6th, 2012, 07:29 AM   #18
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Repost from Ophir-Rochor Corridor thread, for future references.

I think 6 years is a long time, hope they do a good job here for both projects as both are rather big investments.

Quote:
Originally Posted by OpenH2O View Post
Chuang Peck Ming In Putrajaya
6 January 2012
Business Times Singapore

$11b Marina South and Ophir-Rochor projects to take 6 yrs

WORK to develop two land parcels in Marina South and Ophir-Rochor - the outcome of the breakthrough land swop deal between Singapore and Malaysia in May 2010 - is due to start next year.

And the $11 billion developments - comprising hotels, apartments, offices and shops on a total of 501,020 square metres of space in two main areas of Singapore's downtown, incorporating Malaysia's former train station land - are expected to be completed over the next six years.

The land parcels will be developed by M+S, owned 60:40 respectively by Malaysia's Khazanah Nasional and Singapore's Temasek Holdings, the two countries' investment companies.

'Khazanah and Temasek are in the midst of discussions with banks to provide financing for the developments,' said a joint statement issued yesterday after the leaders of the two countries wrapped up another round of talks to increase cooperation.

Reporting on the 'significant' progress made since the strategic real estate investments made by Khazanah and Temasek last June, the statement said M+S has appointed architects and key consultants for the Marina South and Ophir-Rochor developments. And the project managers have submitted the designs for planning approval.

Meanwhile, Khazanah and Temasek's 50:50 owned Pulau Indah Ventures will develop a 2 hectare Urban Wellness project and an 85 ha Resort Wellness project in Johor's Iskandar development region.

The gross development cost of the projects - which include a wellness centre; serviced residences; a corporate training centre; and commercial, retail, residential and wellness-related offerings - is about RM3 billion, the statement said.

Singapore's CapitaLand has been appointed project manager of the Urban Wellness project, which is expected to be completed over the next four years. Construction is likely to begin in 2012.

Yesterday's statement also said the boards of both M+S and Pulau Indah have been constituted to comprise key industry leaders to provide strategic direction and ensure the projects' success.

Chairing the M+S board is Azman Yahya, also executive chairman of Bolton Berhad and director of Khazanah. Sino Group's chairman Robert Ng is deputy chairman. Mapletree Investment's chief executive Hiew Yoon Khong is also a board member.

Pulau Indah is chaired by Syed Zainol Anwar Ibni Syed Putra Jamalullail, also chairman of Cahya Mata Sarawak and chairman of Nestle in Malaysia. Board members from Singapore include Lim Ming Yan, chief operating officer of CapitaLand, and Olivier Lim, head of strategic corporate development at CapitaLand.
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Old January 28th, 2012, 12:58 PM   #19
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Source:http://www.temasek.com.sg/mediacentr...?detailid=8259
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Old April 30th, 2012, 08:16 AM   #20
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Here is some news posted by Benyahzee

Quote:
Originally Posted by ;90931363
News on the development of the land behind mbfc.






Khazanah Nasional Bhd is launching a prestigious project, estimated
to be worth over S$7 billion (RM17.19 billion), at Marina South in Singapore by the end of this year or early 2013.

The yet-to-be-named mixed-use integrated project will be developed by M+S Pte Ltd (MSPL),which is 60 per cent-owned by Khazanah, the government’s investment arm, and 40 per cent by Singapore’s investment arm Temasek Holdings (Private) Ltd.

The project will feature four prominent residential and office
towers, as well as a retail podium, and linked to the Marina and
Downtown MRT lines, MSPL chairman Datuk Azman Yahya told Business Times.

MSPL had secured funding for the project with eight banks in March.

Azman said that the project, which is designed by Germany-based Ingenhoven Architects, is set to be the gravitational epicentre of Singapore’s new Central Business District.

This is the second development for MSPL in Singapore. The company is developing land parcels at Ophir-Rochor, which is estimated to have a gross development value exceeding S$4 billion (RM9.82 billion).

The two projects are expected to be completed over the next six years.

Read more: Khazanah plans S$7b project in Singapore http://www.btimes.com.my/Current_New...#ixzz1tUkMsUZR
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