Yanlord Land Group has teamed up with two other partners to clinch a residential site at Lentor Central for $481 million, or at $1,108 psf ppr.
The other two partners are Forsea Residence, an indirect subsidiary of China Communications Construction Company, and Soilbuild Group Holdings. Yanlord, on its part, is developing this site via its subsidiary, United Engineers.
The 99-year site, located within the new Lentor Hills estate, covers some 144,714 sq ft and has a gross floor area of 434,140 sq ft. Some 470 residential units can be built on this site.
“We are pleased to continue building our residential development track records in Singapore following the successful 100% sale of Dairy Farm Residences,” says Roy Tan, United Engineers’ group managing director (picture)
“With this prime Site in the Lentor Hills neighbourhood, we intend to create a quality development leveraging on its attractive attributes including its close proximity to lush greenery, MRT and retail amenities,” he adds.
Yanlord is Singapore listed but the bulk of its projects are in China.
Yanlord shares closed Sept 19 at $1.04, unchanged for the day.