Four Singapore urban planning, development firms complete mergers

Singapore

FOUR of Singapore's key urban planning and development companies have completed their mergers, first announced last September.

Two of them, business park developer Ascendas and urban investment and development company Singbridge Group, have formed a merged entity called Ascendas-Singbridge.

It is jointly owned by parents Temasek Holdings and JTC Corporation through a 51-49 partnership. It will have an asset holding and investment holding function.

Separately, a building and engineering specialist services arm has been formed by combining consultancy and project and facilities manager Jurong International Holdings (JIH) and urbanisation consultancy Surbana International Consultants Holdings. This Surbana-JIH merged entity, to be named later, is also jointly owned …