SINGAPORE: The prime ministers of Malaysia and Singapore yesterday unveiled the design of a landmark project called Marina One, an integrated development in the heart of Singapore’s new central business district.
Marina One is developed by M+S Pte Ltd, a 60:40 joint venture between Khazanah Holdings Bhd and Temasek Holdings. They are the investment arms of the Malaysian and Singapore governments respectively.
Marina One is the second collaborative project between Khazanah and Temasek after the DUO Ophir-Rochor integrated development launched in November 2012. Both projects, expected to be completed in 2017, have a combined GDV of S$11 billion (RM27.5 billion).
M+S said Marina One will be located among well-known buildings in the Marina Bay area, including the Marina Bay Sands, Singapore Flyer, Esplanade Theatres on the Bay and Gardens by the Bay. In addition, Marina One will be connected to Singapore’s mass rapid transit (MRT) interchange by 2016.
Covering a gross floor area of 3.67 million sq ft, Marina One will comprise Marina One Residences, Marina One Offices and The Heart, a retail podium.
Marina Residences, set to be launched in the second half of this year, has two towers with 1,042 luxury homes ranging from one- to four-bedroom units, as well as penthouses.
Marina One Offices comprises Marina One East Tower and Marina One West Tower, and will feature 1.88 million sq ft of prime Grade A net lettable office space. Its crown jewels will be two 100,000 sq ft office floor plates, one of the largest in Asia.
The retail podium, The Heart, covers 140,000 sq ft of net lettable space providing shopping and lifestyle amenities.
Marina One is designed by renowned architect, Christoph Ingenhoven, who is known for his iconic green and sustainable world-class designs such as the European Investment Bank building in Luxembourg, the Google headquarters in Mountain View, California and 1 Bligh in Sydney, Australia.
Prime Minister Datuk Seri Najib Razak said he was truly excited to see the development of Marina One.
“I think it will have a wonderful design and Marina One will certainly fulfil our expectations as we wanted a landmark and iconic building. Marina One is the beginning of that iconic building. What we see today is only the beginning of an exemplary project,” Bernama quoted him as saying.
His Singapore counterpart, Lee Hsien Loong, described Marina One as very important for both Singapore and Malaysia, saying it would be “an iconic project in our new business district for many more years to come”.
M+S chairman Tan Sri Azman Yahya said Marina One marked a brand new chapter in the Marina Bay masterplan. “This momentous collaboration between Malaysia and Singapore will position Marina One in an unprecedented scale on the world map as a new financial centre attracting businesses.”
Azman noted that the Marina One and DUO projects came about following the exchange of the M+S Shareholders’ Agreements in Putrajaya on Jan 5, 2012. M+S was established in 2011 to develop four parcels of land in Marina South and two parcels in Ophir-Rochor.
The DUO project in Ophir-Rochor has a gross floor area of about 1.73 million sq ft. Located at Ophir-Rochor, a business district near the Singapore city centre and adjacent to Kampong Glam, a Malay heritage conservation district, the development comprises DUO Residences and DUO Tower.
DUO Residences is a 49-storey building with 660 premium residences, ranging from studios and one- to four-bedroom units to penthouses. DUO Tower is a 39-storey building housing office space, a retail plaza and five-star hotel.
This article first appeared in The Edge Financial Daily, on February 20, 2013.