Khazanah and Temasek deliver iconic joint development projects

SINGAPORE: Malaysian Prime Minister Datuk Seri Najib Abdul Razak and Singapore Prime Minister Lee Hsien Loong today witnessed the successful completion and official opening of Marina One and DUO, worth a combined S$11billion (RM32.9 billion) in gross development value, jointly developed by the two countries state investment arms.
The development of Marina One and DUO, located in Marina South and Ophir-Rochor respectively, was undertaken by M+S Pte Ltd, which is owned 60:40 by Khazanah Holdings Bhd and Temasek Holdings (Private) Ltd respectively.
Marina One and DUO are integrated developments with office, retail and residential components.
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 between Malaysia and Singapore in 2011.
In addition, Khazanah and Temasek are undertaking joint developments in Iskandar Malaysia through Pulau Indah Ventures Sdn Bhd, a 50:50 joint venture that is developing the Afiniti Medini and Avira integrated wellness projects. Afiniti Medini was completed in 2016.