Singapore Companies
Published February 3, 2007

Wheelock picks Shimizu of Japan to build Scotts Square


WHEELOCK Properties yesterday said that it has awarded a $168 million main contract for the construction of its retail-cum-residential development Scotts Square to Shimizu Corporation of Japan.

Construction work is expected to begin in the third quarter of this year, and to be completed by 2010.

Shimizu, which is listed on the Tokyo Stock Exchange, was chosen because of its track record in constructing high-end condominiums including Ardmore Park and Grange Residences, said Wheelock in a statement.

Shimizu was also behind the construction of Orchard Road mainstay Ngee Ann City and is now involved in the building of Changi Airport's Terminal 3.

Wheelock said: 'The company has established a strong reputation in its field and is renowned for its high quality work.'

Located on Scotts Road between the Grand Hyatt and Marriott hotels, Scotts Square will be a 'super luxury' residential and retail development.

It will comprise two residential towers - one with 43 storeys and the other with 34 - and an 80,000 sq ft retail podium.

The freehold development will offer 338 luxury one, two and three-bedroom apartments.

Wheelock acquired the site, comprising the freehold Scotts Shopping Centre and the 23-storey The Ascott Singapore Serviced Residences above it, for $345 million in June 2004.

David Lawrence, chief executive of Wheelock Properties, said that Scotts Square will be built with the highest construction standards.

'Once completed, it will be one of the most 'sexy' buildings in town with every apartment offering an astounding view of Scotts Road, Orchard Road and beyond,' he said.

In the stock market yesterday, Wheelock shares closed three cents up at $2.76.