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Tender Awarded For Integrated Retail, Dining And Entertainment Development In SKYCITY

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Airport Authority Hong Kong (AA) recently announced that Roxy Limited, a subsidiary wholly-owned by New World Development Company Limited, has been awarded the right to develop and manage a world-class destination commercial development (Site A2 and A3, the Development) in SKYCITY at Hong Kong International Airport.

The Development is a crucial part of the overall long-term development of HKIA. The award follows an open tender exercise held earlier, which received a number of strong bids from local and international developers and retail operators.

Scheduled to be opened in phases from 2023 to 2027, the Development, adjacent to HKIA’s passenger terminals, will provide a maximum gross floor area of 350,000 square metres, with retail, dining and state-of-the-art entertainment facilities tailor-made for visitors and local residents of different ages. Under the agreement, Roxy Limited will design, construct, finance and manage the Development, which will be the largest integrated retail, dining and entertainment development in Hong Kong.

Apart from the Development, a hotel is being developed on another site of SKYCITY(Site A1a), for which Regal Hotels Group has been awarded the development and management right earlier. The new hotel is scheduled to be opened in the year 2020-2021.

SKYCITY occupies approximately 25 hectares of land and benefit from the customer base of HKIA which served 72.9 million passengers in the past year. The passenger traffic at HKIA is projected to rise to more than 100 million by 2030 with the completion of the Three-runway System. SKYCITY will also tap into the full potential brought by the Tuen Mun-Chek Lap Kok Link and Hong Kong-Zhuhai-Macao Bridge that will greatly enhance the connectivity is well-positioned to of the SKYCITY not only within Hong Kong, but also the Pearl River Delta.

Masterplan for Jurong Lake District Singapore Unveiled

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The Singapore Urban Redevelopment Authority (URA) recently unveiled the masterplan for Jurong Lake District , the city’s future second Central Business District.

KCAP Architects&Planners leads a multi-disciplinary team consisting of SAA Architects, Arup, S333 and Lekker, and is responsible for many of the key ideas  in the plan.

A Distinctive Identity
The ambition is to develop the area into a new mixed-use business area built around the future Kuala Lumpur-Singapore High-Speed Rail terminus. This will further anchor Jurong Lake District as Singapore’s second Central Business District. Qualities of the plan are its high- density mixed-use programme, which incorporates new waterways and a series of stacked horizontal landscape datum and connections that weave through the entire district. This helps create a distinctive identity for Singapore and its vision as a “City in the Garden”.

A Dialogue Between High-Density Urban Sustainability and Heritage
The high-density urban typology maximises vertical urban greenery within a vertical city next to the beautiful Jurong Lake Gardens and creates a streetscape network for active mobility, walkability and interactive public spaces.

The integrated, sustainable urban systems maximise the streetscape by proposing to place all major transport and engineering below the city, which creates layers of optimised infrastructure and a car-lite district. Existing heritage buildings, landscapes and ecosystems are respected and repurposed in the new development.

With its strategic location, open environment and live-work-play programming, the area will become a new gateway to Singapore and can also be the new hub for a emerging science and innovation corridor in West Singapore.

A dedicated website for the project has been launched at www.jld.sg and a flythrough video of Singapore’s next CBD can be found here.

Afro-Asia Shipping Company and Shimizu Corporation Enter into Joint Venture Agreement

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Afro-Asia Shipping Co (Pte) Ltd (AAS) and Shimizu Corporation Investment and Development Division recently announced their joint venture to redevelop Afro-Asia Building, one of the oldest office blocks along Robinson Road in Singapore’s Central Business District (CBD), into a brand new Grade A office building. Cushman & Wakefield’s Capital Markets team acted as the advisor for the transaction.

AAS and Shimizu Corporation have incorporated a joint venture company, Robinson Development (Pte) Ltd, to which AAS will be transferring the lease rights and retain a controlling interest in the company. Robinson Development (Pte) Ltd will fund the cost of constructing the office building with loan assistance from financial institutions. The total cost for the entire project is estimated to be in excess of SGD320 million. Shimizu Corporation will carry out the demolition in November this year and construction is expected to commence in April 2018, with completion scheduled for mid-2020.

Mr. Tan Chin Hoon, Managing Director, AAS said, “AAS is privileged to partner with Shimizu Corporation, a well-established name in the real estate and construction industry. The new development will enhance the façade of Robinson Road and we are confident that the redeveloped 63 Robinson Road will be a much sought-after commercial address in Singapore.”

Mr. Hideto Kawakami, Deputy General Manager, Shimizu Corporation said, “We are excited to expand our investment portfolio in Singapore through this joint venture. For the new development, we will be bringing in the latest eco-friendly designs and state of the art technology from Japan to meet the future needs of commercial occupiers. They can expect flexible and efficient prime space with a modern touch that will accommodate the latest and future working trends.”

Built in the 1950s, Afro-Asia Building, which is currently seven-storeys high with a four-storey annexe will be redeveloped into a 19-storey high development with a total gross floor area of 16,908 square metres. It will boast panoramic views of the CBD skyline and a roof top garden. Adopting a green design approach, the building will incorporate innovation and green technologies including efficient air- conditioning management, cleaning and maintenance services, which are prevalent in Japan. There are also plans to get the development certified under the Green Mark Platinum and LEED Platinum standards.

The new development will have a Food & Beverage (F&B) component on the ground floor with office spaces from levels 7 to 18. The site is highly accessible and is in close proximity to the North-South, East-West and Downtown MRT lines. It is also about 120 metres away from the new Shenton Way MRT station due to complete in 2021.

Ms. June Chua, Executive Director, Leasing at Cushman & Wakefield noted that the redevelopment comes at an opportune time as demand for new Grade A office space in the CBD is picking up momentum and this new development tactically meets market demand for exclusive space sought after by mid-size office occupiers.

“According to our research, there will be approximately 137,000 square metres of Grade A office space completing in the CBD in the next three years, and all these developments, with the exception of 63 Robinson Road, are designed for larger office occupiers. Given the very limited good quality office buildings which have been developed over the past 10 years in Shenton Way and Tanjong Pagar, we expect pent-up demand for quality and exclusive space which 63 Robinson Road is well placed to serve,” she said.

URA to Launch Tender for Reserve List Site at Beach Road

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The land parcel at Beach Road is a plum CBD fringe commercial site that should generate good interest amongst developers and investors. With 88,313 square metres of GFA, the site can be developed for office use (minimum 61,820 square metres) and retail use (maximum 3,000 square metres), while hotel, service apartment and residential use are also allowed. Conservation of the former Beach Road police station on the site will enhance the character of the development making it more interesting.

The office component would increase the critical mass of new office buildings in the vicinity, together with South Beach Tower and Duo Tower.

The triggering of this site comes in tandem with positive investment sentiments in the office property market and also at a time when office rents appear to be firming after two years of decline. Seven bidders contested keenly for the Central Boulevard site in November 2016 and it would not be surprising if the unsuccessful parties in that tender contest again, for the subject site. If residential use is incorporated in the development, it would coincide with an expected upturn in the residential market.

The development of the subject site augurs well for the office market as it will increase the supply of quality office space in the CBD fringe that is more affordable than those in prime CBD. In the CBD, the potential supply of office space is approximately 18 percent of its investment grade stock while in the CBD fringe, it is less than 2 percent, reflecting the uneven spread of new supply between the two sub-markets. JLL had recently released a white paper on office decentralisation highlighting the need for more office space outside the CBD, especially in the decentralised sub-market to provide more affordable office space options to businesses.

ADB Backs Sunseap’s Plan to Build Cambodia’s First Large-Scale Solar Farm

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Electricity tariffs in Cambodia are higher than those in neighbouring countries.

The Asian Development Bank (ADB) has backed Singapore’s Sunseap Group’s project to build Cambodia’s first large-scale solar power project under a long-term agreement with Electricité Du Cambodge (EDC).

ADB’s Private Sector Operations Department (PSOD) will provide Sunseap Asset (Cambodia) with a debt-financing package of US$9.2 million. The package includes co-financing from a private sector financial institution through ADB’s B Loan program and a concessional loan from the Canadian Climate Fund for the Private Sector in Asia (CFPS). The CFPS loan was instrumental in assisting the sponsors to overcome some of the early mover risks and cost premiums associated with a first-of-its kind project such as this.

The project is located near Bavet, a special economic zone in the Svay Rieng province, and is being implemented through a public-private partnership (PPP) arrangement. As part of the project, Sunseap entered into a 20-year solar power purchase agreement (PPA) with EDC.

Sunseap, one of the largest sustainable energy providers in Southeast Asia, won the tender last year. It was Cambodia’s first competitively bid renewable energy IPP (Independent Power Producer) project. This marks Sunseap’s third foray into the international market after developing projects in India and Malaysia.

The solar farm is expected to begin operations in August 2017. Once completed, it will have an installed capacity of 10 megawatts and be able to meet roughly a quarter of Bavet City’s local energy demand, half of which is currently being met through power imports from neighbouring Vietnam. The project will also help reduce greenhouse gas emissions by 5,500 tons of carbon dioxide equivalent (CO2) annually. In addition to providing more reliable power supply in rural areas, the project is expected to generate a range of new skilled and unskilled jobs for the local community.

“We are honoured to have received the support of ADB as we embark on this large-scale project. Cambodia is a fast-growing market with vast potential for solar development,” said Frank Phuan, Founder and Director of Sunseap Group.

“While electricity consumption in Cambodia has increased significantly over the years, almost half of the country’s population currently has no access to stable, affordable electricity. Through this partnership, people in rural Cambodia will gain access to a precious commodity that many in the urban developed world take for granted.

“This project marks our entry into the rapidly developing Greater Mekong Subregion market. Our focus is on developing projects in the region that are sustainable in the long term at grid parity. We hope this project will help pave the way for future utility-scale solar projects as well as greater collaboration between the ADB and Sunseap in the region.”

“ADB is committed to working with companies like Sunseap to support our strategic agenda for environmentally sustainable inclusive growth,” said Christopher Thieme, ADB’s Deputy Director General for Private Sector Operations.

“ADB’s leading role in financing this project will help demonstrate the benefits of increasing Cambodia’s power supply through PPPs using local, renewable energy sources. It will also signal to the government, investors, and international financiers that private sector-led infrastructure investments can be undertaken successfully in a transparent manner, at a competitive price, and with a sound financing package.”

In Cambodia, the electrification rate grew to 55 percent in 2015, up from 20 percent in 2007. However, electricity coverage is a challenge especially for those in rural areas. Electricity tariffs in Cambodia are higher than those in neighbouring countries, mainly due to the high cost of fossil fuel-based generation and the fragmented power supply system in the country.

AECOM and Asia Society Announce Imagine 2060

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The Manila launch will be followed by waterfront-focused events in Sydney , Los Angeles , and New York

The Manila launch will be followed by waterfront-focused events in Sydney , Los Angeles , and New York

AECOM, a fully integrated infrastructure firm, and Asia Society, a global non-profit institution, today announced a three-year partnership in the form of Imagine 2060: Delivering Tomorrow’s Cities Together.

Each forum is an opportunity for leaders in urban design, infrastructure and public policy to connect with a common goal – imagining a long-term vision for each city supported by innovative ways to achieve it. The first year of the partnership launched on 30 March, 2017 in Manila before moving to Sydney, Los Angeles, New York and culminating in Hong Kong.

“These are some of the most exciting and vibrant cities on our planet but they share common stresses caused by growth, urbanisation and densification which are only going to intensify with the predicted level of population growth,” says AECOM Asia Pacific President, Sean Chiao. “If we want future generations to flourish in these cities, it is up to those in positions of influence today to lead the way and create a legacy they can be proud of.”

The initiative will cultivate a connected global community of “city shapers” who are committed to sharing their experience and best practices, all aimed at enhancing the quality of life in Manila, Sydney, Los Angeles, New York and Hong Kong.

“This is the start of a new conversation between the brightest minds in urban design, business, economics, infrastructure design and public policy,” continued Sean Chiao. “The series will explore cities through five key lenses of wellbeing, economic development, culture, mobility and innovation in project delivery. It is our belief that the right balance of these elements leads to the best outcomes for cities and their citisens.”

Asia Society’s Executive Vice President, Tom Nagorski says, “What we are asking, essentially, is ‘Where do the great cities of our world need to be, a half century from now?’ And then ‘What must we do now to be sure that those dreams are realised?’ There are few more pressing questions for the planet’s future. Ultimately Imagine 2060 will be a guide not only for the five cities involved, but for any major metropolis interested in creating a roadmap for the future.”

2017: At The Water’s Edge
In its inaugural year, Imagine 2060 will examine issues involving the urban waterfront under the heading “2017: At The Water’s Edge” is a wide-ranging examination of how the diverse approaches to their proximity to water have shaped the quality of life for citizens of these five cities in radically different ways.

The world premiere of the five-city series took place on Thursday, 30 March, 2017 at The Manila House in Bonifacio Global City, Taguig City, Manila. It explored how citizens of the Philippines’ capital city can reimagine the original ideas of a “City Beautiful”, created by renowned urban planner Daniel Burnham back in 1905.

Throughout the Imagine 2060 series AECOM and Asia Society will compile the main findings from each city, build upon the discussions and publish the key insights on their website so they are available for further input and development.

The Manila launch will be followed by waterfront-focused events in Sydney, Los Angeles , and New York before the first year of the program is brought to a conclusion in Hong Kong.

Next year, AECOM and Asia Society will explore creative and resourceful strategies for land use by cities. The third and final year of Imagine 2060 will look at the futuristic-sounding, but all too real, prospects or use of aerial space and air quality.

JCBFleet Stands Ready to Assist After Disaster Relief Tender Success

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Leading construction equipment manufacturer JCB has won a tender to help with future disaster relief efforts in the Philippines.

Leading construction equipment manufacturer JCB has won a tender to help with future disaster relief efforts in the Philippines.

Leading construction equipment manufacturer JCB has won a tender for more than 40 machines to help with future disaster relief efforts in the Philippines. Up to nine tropical storms hit the islands every year and after Typhoon Haiyan in 2013, which killed more than 6,300 people, the Armed Forces of the Philippines (AFP) acted to ensure damage following future typhoons could be dealt with swiftly by ordering a fleet of high-powered machines.

The AFP awarded its tender to JCB and it will take delivery of 3CX and 1CX backhoe loaders and VM115 soil compactors. A JCB JS205 tracked excavator and a 540-170 Loadall telescopic handler are also part of the order. The fleet will also be put to work on rural development projects when not deployed on disaster relief work.

 

The order was secured by JCB SEA and ICON Equipment, JCB’s construction equipment dealer in the Philippines, in the face of fierce competition. The machines will be deployed in September.

Tom Cornell, Managing Director JCB Southeast Asia, said: “The Armed Forces of the Philippines need machines to clear debris after natural disasters, and at other times, for basic infrastructure development in local communities. JCB’s range of machines performs at the highest level in the toughest of environments and is ideally placed to handle the wide variety of tasks faced in the Philippines.”

ICON Equipment will also provide the training and service back up for the machines. Fernando L. Imperial, President of ICON Equipment, said: “The AFP tender was hard fought in the face of some tough competition from other global manufacturers. The teamwork between JCB SEA and local knowledge of ICON Equipment was crucial to the successful outcome. JCB equipment and the service back-up provided by ICON is well respected in the Philippines and this order highlights the fact at the highest level.”

The versatile backhoes – which have a front shovel and rear excavator – will be used to clear debris on roads and tracks after a disaster. The soil compactors will compact tracks after a disaster and ensure drainage of surface water that would otherwise cause tyres to get stuck in mud.

While the JS205 tracked excavator will be used for dismantling damaged properties, the lifting capabilities of 540-170 telescopic handler could prove vital to saving lives, gently removing rubble from collapsed buildings when a typhoon strikes.

When Typhoon Haiyan hit in 2013, JCB Chairman Lord Bamford donated three high-powered JCB 3CX backhoe loaders worth more than $500,000 to help deal with the aftermath. In 2006 JCB sent a fleet of 3CX backhoe loaders to the Philippines after Typhoon Reming hit the Bicol region, destroying much of the infrastructure.

Faithful+Gould Share How Hong Kong is Once Again Attracting Commercial Property Investors

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A view of the Hong Kong city scape.

A view of the Hong Kong city scape.

Hong Kong’s real estate development opportunities can be challenging. New opportunities are opening up in Kowloon, but how do you ensure your building is fit for purpose?

Following a somewhat stagnant commercial property market in 2015, Hong Kong is now attracting investors once again. Change of use is a key driver, with many properties being purchased or leased with a view to converting to hotels or offices. The hospitality market remains healthy, creating ongoing demand for hotels.

Grade A office space, in the central business district of Hong Kong Island, tends to have long leases and rarely changes hands. Today’s available property is frequently snapped up by mainland financial institutions looking to build a bigger footprint in the city due to Beijing’s ‘going out’ strategy. According to Colliers International, the 11 state-owned banking giants each occupy at least 100,000 square feet in Central.

Away from land-hungry Central, however, ongoing redevelopment across the harbour is presenting interesting real estate opportunities. Kowloon’s lower rents are attracting prospective tenants, many of whom are keen to downsize and relocate to escape high Central rents. Kowloon East is becoming a popular location for the city’s insurance and shipping sectors, with overseas investment banks also showing interest.

Back office functions, especially, are straightforward to accommodate here. Media and creative companies are also favouring the district, with its mix of traditional and warehouse/loft spaces.

In Kowloon East, government land supply has the potential to release another 13.6 million square feet of commercial floor space onto the market. Much of this will be at Kai Tak, where occupants will also benefit from the new rail infrastructure linking into Central.

The first challenge for prospective investors outside of Central is to accept the location. A company’s staff will typically prefer the prestige of Central, with its good transport links. However, the corporate cost benefits are significant, so selling the idea to staff may be a necessary part of the plan.

Financial companies will need specific infrastructure, which is sometimes seen as a stumbling block, though in reality, this is relatively easily organised. Change-of-use compliances are complex, with inward investors typically unfamiliar with Hong Kong’s complicated system. The main pitfall is ending up with an unsuitable building, not fit for purpose.

For many clients, Faithful+Gould is with them from project inception to completion and relocation/occupation, offering a full turnkey package. Faithful+Gould performs due diligence, checking the technical suitability and fitness of purpose of the building. We provide a full detailed report including costs and expert analysis. Visit Faithful+Gould for more information.

Hydro International Opens New Office in Singapore

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Hydro International, the leading global provider of solutions for the control and treatment of stormwater and wastewater, has opened an office in Singapore as a centre for its growing business across the Asia Pacific region.

As part of a programme to establish a direct presence in strategic international locations, Hydro has appointed Andy Tang as APAC Regional Business Manager to run the Singapore office and develop sales distributorships across the region.  Andy’s brief is to establish a platform for the introduction and support of Hydro’s innovative and brand-leading vortex control and separation technologies.

“After significant sales growth in recent years, Hydro is now keen to consolidate its successes and grow its business potential in APAC,” said International Business Director Clive Evans.  “Hydro is moving closer to the international markets it serves, providing a higher-profile and responsive service to customers in the region.”

Hydro’s proven record in the region includes orders for more than 100 Downstream Defender vortex separators to improve surface water quality as part of the River of Life project in Kuala Lumpur, Malaysia.   Hydro has also seen significant interest in its wastewater grit removal solutions, and for its brand-leading Hydro-Brake® Vortex Flow Controls and Vortex DropTM Shaft technologies.

Andy Tang will be responsible for developing Hydro’s business in Malaysia, Singapore, Indonesia, Philippines, Thailand, Vietnam, Myanmar, Australia and New Zealand.

An engineering graduate of Aberdeen University, Andy has enjoyed a successful career to date with more than 18 years in senior sales management posts in the pumps and hydraulics industry in Singapore, notably with Boerger Pumps, Fuglesangs, and Viking Pumps.

Andy commented: “I have been very impressed by Hydro’s vortex-based control and separation technologies and their no-power, no-moving parts design.   Many countries in the region are prone to periods of intense, sudden rainfall leading to flooding and river pollution.  Hydro’s products are well-placed to address the growing desire to improve surface water control and treatment.

“I also expect to see growing interest for Hydro’s wastewater grit removal systems, which promise operators new approaches to improving equipment performance and plant maintenance by eliminating harmful grit from downstream works.“

For more information on Hydro’s stormwater and wastewater technologies email enquiries@hydro-int.com, or visit www.hydro-int.com or email Andy at atang@hydro-int.com.

 

Comtech Building Redevelopment

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Construction begins on SG$350 million Comtech building redevelopment; Singapore

Construction has begun on the SG$350 million redevelopment of the Comtech commercial building in Singapore. Mott MacDonald is acting as building services consultant on behalf of Mapletree Business City Pte Ltd on the project.

The redevelopment of the Comtech building will include the construction of a new 30-storey tower with three stepped podium blocks, providing approximately 125,000 sq m of gross floor area. As the second and final phase of the Mapletree Business City (MBC) integrated business hub it will build on the previous success of MBC, which includes a business park and retail space, office and meeting facilities, restaurants and cafes and a gymnasium with heated pool.

The MBC development has revitalised the Alexandra Precinct of Singapore. Located at the fringe of the central business district, it is designed to support, enhance and exceed the needs of modern businesses.

CheeChuan Tan, Mott MacDonald’s project director, said: “Once the redevelopment of the Comtech building is complete, the complex will be a Grade A business park space with high floor plate efficiency. The project also recently obtained Green Mark Platinum certification, Singapore’s highest sustainability award. This was achieved thanks to a predicted 30% energy saving through the use of efficient chiller plants and lighting.”

Construction of the project is due to be completed in the first half of 2016.

More information can be found at http://www.mottmac.com/