Najib, Hsien Loong launch Marina One and DUO joint development projects

SINGAPORE: Prime Minister Datuk Seri Najib Tun Razak and his Singapore counterpart Lee Hsien Loong launched the simultaneous opening of the Marina One and DUO joint development projects on Monday night (Jan 15).

 

The development of Marina One and DUO, located in Marina South and Ophir-Rochor, was undertaken by M+S Pte Ltd (“M+S”), which is 60:40 owned by Khazanah Nasional Bhd and Temasek Holdings Ltd respectively. 

 

M+S was established in 2011 to develop land parcels in the Marina South and Ophir-Rochor areas following the full implementation of the Points of Agreement (“POA”) between Malaysia and Singapore in 2011.

 

The two projects are worth a combined S$11bil (RM33bil) in gross development value.

 

Also present at the launching were Najib’s wife Datin Seri Rosmah Mansor and Lee's wife Ho Ching.

 

M+S Pte Ltd chairman Tan Sri Azman Yahya, in his speech, said the two projects were completed due to the foresight and unwavering support by both leaders.

 

He said the projects served as a lasting reminder of the ties between Malaysia and Singapore.

 

Najib, who arrived here Monday, for the eighth annual retreat between Malaysian and Singapore leaders had earlier paid a courtesy call on President Halimah Yacob.