Northwave Executive Condominium is being built by Hao Yuan Investment Pte Ltd, which is a subsidiary of MCC Land (Singapore) Pte Ltd, which in itself is part of the Metallurgy Corporation of China Ltd. Metallurgy Corporation of China Ltd is a global Fortune 500 company, and is based out of China. Its subsidiary, MCC Singapore, is a complete building services provider, who is involved in various real estate activities such as property development, project management, engineering and construction.
The land for development of the Northwave EC project was awarded to Hao Yuan Investment in 2015 for an amount of $103.79 million. When HDB had called for bids for the tenders, seven firms had submitted their bids. Among them, Hao Yuan Investment in 2015 had quoted the highest bid, which earned it the 99-year leasehold on the site. The development project is intended to produce a total of 390 housing units.
Although Northwave EC is one of the first projects bagged by Hao Yuan Investment, MCC Singapore itself has been a huge player in Singapore. In fact, MCC Group has been operating in this space since as early as 1996. MCC Singapore was part of the Metallurgy Corporation of China Ltd’s larger plan to expand its operations across Asia-Pacific. Today, it boasts of some of the biggest real estate projects in Singapore such as Keppel Distripark, Universal Studios Singapore at Resorts World Sentosa, and Singapore Expo.