Vinci to build 3 tower complex in Malaysia

expat network

Vinci to build 3 tower complex in Malaysia

Jesselton Group, (Malaysian property developer) has awarded France-headquartered Vinci Construction Grands Projets the contract to build a 125,000 sq m mixed-use development in Kota Kinabalu, a small touristic city in northern Borneo, Malaysia (pictured).

The seafront project includes a 7-storey podium over two underground levels that will house a 20,000 m2 shopping centre and parking, as well as a complex made up of three 20-storey residential towers with a total of 333 apartments.

Vinci has just over a year and a half to build the development because handover is scheduled for July 2016.

The value of the contract is $82.4m (€70m), but that does not include foundations and underground levels, Vinci said in a statement.

Vinci is already in Kota Kinabalu, a tourism and international conference destination, constructing the Menara Hap Seng tower project under a design-build contract.

The firm is also in the Malaysian capital, Kuala Lumpur, building a residential and office complex called Berjaya Central Park.

Announcing the new Kota Kinabalu project, Vinci said: “This further success confirms Vinci Construction Grands Projets as an operator in Malaysia, where local developers appreciate the quality of the structures it has completed and is currently building.”

Source: www.globalconreview.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.