SINGAPORE: GuocoLand, Intrepid Investments, and CSC Land Group have secured a 25,458.4 sqm site at Tengah Garden Avenue in Singapore with a winning bid of S$675 million, as reported by The Edge Singapore.
GuocoLand partnered with Intrepid Investments, a wholly-owned subsidiary of Hong Leong Holdings, and CSC Land Group, associated with China State Construction Engineering Corporation. GuocoLand’s chairman, Quek Leng Chan, also serves as a director at Hong Leong Investment Holdings.
Hong Leong holds a 60% stake, while GuocoLand and CSC Land each hold 20% in the joint venture.
The site is set to accommodate about 860 residential units. Located next to the future Hong Kah MRT Station on the Jurong Region Line, the site will also be accessible by bus services along Tengah Garden Avenue.
It is opposite the future Tengah Hospital and within two kilometres of the upcoming Anglo-Chinese Primary School. /TISG
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