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Daewoo E&C wins DCSB's US$177m job
 
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Daewoo E&C wins DCSB's US$177m job
Oct 28, 2012
Daewoo Engineering & Construction Co, South Korea's third-largest builder, has won a US$177 million (RM538 million) contract to build a large-scale commercial complex in Kuala Lumpur.

The contract was awarded by Damansara City Sdn Bhd (DCSB), a subsidiary of GuocoLand (Malaysia) Bhd, which in turn is the property arm of the Hong Leong Group.

This is the second job here for Daewoo E&C in over a month.

Last month, Naza TTDI Sdn Bhd, the property arm of Naza Group, awarded Daewoo E&C a contract worth RM555.9 million to build the new Matrade Exhibition Centre in Kuala Lumpur.

DCSB is developing Damansara City, a flagship integrated development of GuocoLand in Damansara Heights.

Damansara City is one of the key entry point projects under the Economic Transformation Programme to transform Malaysia into a high-income nation by 2020.

The development has been identified by the government as a key catalyst to drive rapid growth in Greater Kuala Lumpur/Klang Valley, which is one of the 12 National Key Economic Areas laid down in the 10th Malaysia Plan.

Damansara City entails the development of two Grade A office towers, two luxury condominium towers, a lifestyle mall and an international-class hotel.

The project, located adjacent to the Damansara Town Centre, will be developed on a prime freehold site of 3.4ha with a total development area of about 2.2 million sq ft.

Daewoo E&C said in a statement it will commence superstructure works next month and complete the entire scope by mid-2015.

- Business Times
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Related Categories: Daily Property News and Updates

Tags: Daewoo Engineering & Construction, Damansara City Sdn Bhd, GuocoLand (Malaysia) Bhd

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