SEOUL, January 26 (AJP) - Ssangyong Engineering said on Monday it has secured major construction contracts in the United Arab Emirates and Singapore.
The company said it has won a $250 million contract from Dubai state-owned real estate developer WASL to build Avenue Park Tower, a residential project in central Dubai.
The project comprises two residential towers ranging from 37 to 43 stories above ground in a key downtown development area about 10 minutes from Dubai International Airport. Ssangyong said it earned the client’s trust after successfully completing WASL’s Hyatt Centric hotel and One Residence projects in 2022.
Since 2023, Ssangyong has secured additional projects in Dubai, including Immersive Tower, the Kifaf development and Creek Waters. The company is currently carrying out six projects in the emirate with a combined value of about 1.3 trillion won ($960 million).
In Singapore, Ssangyong last month won a contract for the Alexandra Hospital outpatient building, a $580 million project commissioned by the Ministry of Health.
The company formed a joint venture with Japan’s Shimizu Corp. and Singapore’s Kimly, with Ssangyong holding a 40-percent stake valued at about 3.4 trillion won. The project includes three basement levels and 12 stories above ground, housing examination rooms, clinics, offices and a four-story parking facility.
Ssangyong said it has built advanced medical facilities worldwide with a combined capacity of around 12,000 beds. In Singapore, its track record includes projects such as Tan Tock Seng Hospital in 1998, the new K.K. Hospital in 1999 and the Woodlands Health Campus in 2024.
The company has completed about 40 projects in Singapore, including the Marina Bay Sands integrated resort.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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