News & Information 2011

Shimizu Corporation (President, Yoichi Miyamoto) has been awarded in Singapore the redevelopment project of a large scale mixed use complex “Capitol Development”, including Singapore’s largest cinema cum theatre, owned by local capitalized companies with an approximate contract value of JPY 20billion. The Groundbreaking Ceremony has been held today. Construction will be completed in November 2014.

This project is located near City Hall MRT Station in the heart of downtown Singapore and is the construction of a large-scale complex consisting of four buildings including cinema cum theatre, luxury hotel and residential tower set atop the shopping mall with an approximate total GFA of 50,000 m2 achieved by refurbishment of conserved heritage buildings and replacement of existing building. The owners are three local Special Purpose Companies (SPC) held by a consortium comprising Chesham Properties Pte Ltd, Perennial (Capitol) Pte Ltd and Top Property Investment Pte Ltd.

At the existing site, there are Stamford House built in 1904 for hotel use, Capitol Theatre built in 1929, Capitol Building built in 1933 for office and commercial uses and Capitol Centre built in 1980s for shopping centre cum car park. Three buildings, except Capitol Centre, have been designated by the Singapore government as conserved heritage buildings that have kept on attracting widespread popularity among Singaporeans.

Under this redevelopment project, Capitol Theatre will be refurbished and transformed into a cinema cum theatre, and both Capitol Building and Stamford House will be restored into luxury hotel cum retails. The scale of refurbishment is about 21,000 m². The existing Capitol Centre will be demolished and in its place a new complex with residential tower set atop the shopping mall will be constructed. This new building will be a 12-storey building with six-storey basement, approximate total GFA of 29,000 m². This is the country’s first six-storey basement construction and will present challenging deep underground works.

Several Japanese, Korean and local contractors participated in the tender. The owners took into account Shimizu’s high-quality construction works and advanced project management in Singapore and overseas and awarded this project to us.

< References >

1. Project Outline

   TITLE:	PROPOSED MIXED DEVELOPMENT AT STAMFORD ROAD / NORTH BRIDGE ROAD (CAPITOL REDEVELOPMENT)
   LOCATION:	Stamford Road / North Bridge Road, Singapore
   OWNER:	3 Special Purpose Companies (SPC) held by a consortium of Chesham Properties Pte Ltd, Perennial (Capitol) Pte Ltd and Top Property Investment Pte Ltd Capitol Retail Management Pte Ltd (as trustee-manager of Capitol Retail Trust) Capitol Hotel Management Pte Ltd (as trustee-manager of Capitol Hotel Trust) Capitol Residential Development Pte Ltd
   SCALE:	Refurbishment GFA approximate 21,000 m2 New building GFA approximate 29,000 m2
   STRUCTURE:	Steel (Canopy) and reinforced concrete
   CONTRACT PERIOD:	28 August 2011 – 30 November 2014

2. Profile of Owner
   
   • Capitol Retail Management Pte Ltd (as trustee-manager for Capitol Retail Trust)

     REGISTERED ADDRESS:

     6 Temasek Boulevard, #25-04/05 Suntec Tower Four Singapore 038986

   • Capitol Hotel Management Pte Ltd (as trustee-manager for Capitol Hotel Trust)

     REGISTERED ADDRESS:

     6 Temasek Boulevard, #25-04/05 Suntec Tower Four Singapore 038986

   • Capitol Residential Development Pte Ltd

     REGISTERED ADDRESS:

     6 Temasek Boulevard, #25-04/05 Suntec Tower Four Singapore 038986

   • Chesham Properties Pte Ltd

     LOCATION:

     1 Temasek Avenue #41-00 Millenia Tower Singapore 039192

   • Perennial (Capitol) Pte Ltd

     LOCATION:

     6 Temasek Boulevard, #25-04/05 Suntec Tower Four Singapore 038986

   • Top Property Investment Pte Ltd

     LOCATION:

     1 Scotts Road #20-03 Shaw Centre Singapore 228208

Information provided in this news release is current as of the date of publication. Please note that all such information is subject to change. Please feel free to contact us with any questions.