Singapore Land Group wins $901 mln government land development contract (updated)

Singapore Land

11/07/2023 12:45

(Adds details of contract in paragraphs 3-4)
       July 11 (Reuters) - Singapore Land Group  SIND.SI  said
on Tuesday its indirect joint venture firms won a bid to acquire
and develop a piece of government land in Singapore for S$1.21
billion ($901.91 million).
    The real estate company said the Housing & Development Board
officially awarded the site at Tampines Avenue 11, to Topaz
Residential and Topaz Commercial.
    The contract entails converting the piece of government land
into a mixed-use development comprising a commercial and
residential development integrated with a bus interchange, a
community club and a hawker center, SingLand said in a press
release.
    Topaz Residential would own and hold interests in
developing, marketing, selling and dealing with the residential
component of the project, while Topaz Commercial would deal with
the commercial use of the site.
     

($1 = 1.3416 Singapore dollars)

 (Reporting by Jaskiran Singh in Bengaluru; Editing by Shilpi
Majumdar)
 ((Jaskiran.Singh@thomsonreuters.com;))