Swire Properties and Gammon Skanska today (6 May 2002) signed a contract, valued at HK$870 million, to develop Pacific Forum - Swire Properties' latest commercial property development in Hong Kong.
Swire Properties and Gammon Skanska will develop a partnering framework for the project in pursuit of total quality. The project team will adopt a number of latest construction techniques to create a safe and efficient working condition on site, at the same time minimise adverse impact on the environment and improve productivity and quality.
In addition to the advanced construction techniques, the Pacific Forum project will be the first development in Hong Kong to fully utilise Prolog Manager, an on-line project extranet system. Project managers, consultants and building contractors will be able to access the system at any time from anywhere for project communication, review and decision making.
'This system will increase efficiency in communication, transparency of project data and accountability,' said Mr Stephen Fong, General Manager of Swire Properties.
'We are very pleased with this opportunity to partner Gammon Skanska in the development of Pacific Forum,' remarked Mr Fong. 'We are confident that this project will set new industry benchmarks for quality and performance, while obtaining additional value for our partners and stakeholders.'
Scheduled for completion in mid-2004, Pacific Forum is the latest addition to Swire Properties' Pacific Place development. Located at One Queen's Road East, the site was originally occupied by pre-war residential buildings. The company spent over 10 years on the site assembly process and was the first application for an order to sell under the Land (Compulsory Sale for Redevelopment) Ordinance.
Pacific Forum will comprise an office tower with a gross floor area exceeding 629,000 sq ft, spreading over 40 floors of office and a three-storey basement car park. This new development will break the boundary between Wan Chai and the Central business district in Hong Kong and further strengthen the well-established community around Pacific Place.
Pacific Place, which will be celebrating its 12th anniversary in 2002, was Hong Kong's first integrated development comprising commercial, residential, retail and hotel accommodation elements within one master development plan.
Pacific Forum is the latest collaboration between Swire Properties and Gammon Skanska, who have worked closely together on commercial and residential developments for many years, including construction of nearly 2.3 million sq ft of office space at Swire Properties' highly successful TaiKoo Place development.
'Our ability to provide cost effective and environmentally friendly construction has enabled the company to secure the contract,' said Mr Martin Hadaway, Group Managing Director of Gammon Skanska. 'We look forward to working with Swire as a team to deliver a world-class development.
Swire Properties, a wholly owned subsidiary of Swire Pacific Limited, was incorporated in 1972, and is one of Hong Kong's leading property companies with extensive experience in the development and management of major commercial, retail and residential properties. The completed investment portfolio in Hong Kong consists of prime office, retail and residential properties totalling 11.91 million sq ft with a further 2.81 million sq ft under development, mainly comprising prestigious retail/office projects.
Gammon Skanska is an Asian-based construction services group committed to finding innovative solution for clients. Headquartered in Hong Kong for more than 40 years, it also operates extensively throughout China and Southeast Asia. Gammon Skanska, jointly owned by Jardine Matheson and Skanska AB, employs some 2,500 full-time staff.
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