쌍용건설

Ssangyong E&C recently won a $130 million Plaza Indonesia Extension project, a luxurious multi-purpose building complex, pushing aside Shimizu of Japan in the final bidding process based on its sheer technological prowess. It is regarded as another feat accomplished by the Company in the overseas high-end building construction sector.

The Keraton (meaning a “Royal Palace”) complex will be comprised of a 41-story office building, a 47-story apartment building, and a 6-story shopping center in Tamrin Street, a high-class area of Jakarta. Upon completion of the work, the complex will be a landmark neighborhood like Roppongi Hills in Tokyo or Pacific Place in Hong Kong.

It is reported that the sales price and the rent for offices, apartments and stores in the complex will about twice those of the Four Season or Jakarta Stock Exchange (built by Ssangyong E&C in 1997) buildings, which are regarded as the most luxurious buildings in Jakarta.

Plaza Indonesia Realty, of which the Bimantara Group is the largest shareholder, owns the complex, including the Grand Hyatt Hotel which Ssangyong E&C built in 1991.

A Ssangyong official said, “We built Plaza Indonesia, one of the largest buildings in Indonesia, in 1991. Our reputation as a first-rate builder helped us win the extension project this time, in addition to winning the Oceanfront Condominium project in Singapore, pushing aside big-name rivals in February.”

At the beginning of 2006, the Company announced its resolve to regain its past glory as a leader in the overseas work for high-end buildings. In January, it won the work for four sectors in the North-South Corridor project in Indonesia. In February, it won the Oceanfront Condominium project in Singapore. Since its establishment in 1977, the Company has won a total of 120 building projects worth $5.36 billion in seventeen countries, including Singapore, Indonesia, Malaysia, the U.S., Japan, India, and the UAE.

In 1998, ENR Magazine ranked the Company as the No.2 hotel builder in the world. It has built over 10,000 hotel guestrooms and over 8,000-bed for hospitals in the world.