South Korea’s top builder Samsung C&T Corp. said Thursday that it has signed a deal to construct a commercial complex in Malaysia that is estimated at $160 million.
Under the contract signed with UMLand, a local property developer, Samsung C&T said it will carry out the “UMCity Medina Lakeside” project to construct buildings on a land site of 168,900 square meters in Iskandar, Malaysia. This includes construction of four towers that will host hotels and offices.
The construction project will start this month and is expected to be completed by 2018, the company said.
This large-scale deal is the second of its kind that Samsung C&T has signed with UMLand after an order in November 2014 to build a luxurious residential and commercial complex in Kuala Lumpur.
“We are honored to be part of the UMCity Medini Lakeside project,” said Choi Chi-hun, the president and CEO of Samsung C&T. “We look forward to continuing our support for Malaysia’s development, having participated in large scale projects.” (Yonhap)
