French firm to complete the Jesselton Residences
Published on: Tuesday, December 23, 2014
KOTA KINABALU: Palikota Sdn Bhd, a subsidiary of Jesselton Waterfront Holdings has awarded the main contract to complete the main construction works of its flagship project, Jesselton Residences to Vinci Grand Projects Sdn Bhd.Vinci Grand Projects took over from YFG Trolka Sdn Bhd starting this month and expected to complete the 28-storey project of RM700 million gross development value in 20 months.Vinci Grand Projects is a wholly owned subsidiary of Vinci Construction, a French concessions and construction company founded in 1899 as Société Générale d'Enterprises.
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Jesselton Group Holdings and Palikota Sdn Bhd Chairman, Datuk David Chu expressed confidence with Vinci Grand Projects as the main contractor, which is the world's largest construction company with over 179,000 workers and last year alone had earned a revenue of £40.3 billion euros (RM173.09 billion). In Malaysia, Vinci Grand Projects have undertaken prominent flagship projects selectively in Kuala Lumpur such as the Berjaya Times Square and Berjaya Central Park which incoporates the Ritz Calrton residences as well as the offices for Bangkok Bank. In the State Capital, Vinci is in the midst of constructing Menara Hap Seng.Stay up-to-date by following Daily Express’s Telegram channel.
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Jesselton Residences is now 80 per cent sold to international and local buyers, he said, adding that he believed the property would appreciate once completed due to its location as well as the highest structure at the waterfront here.
