Business

Bidadari site to have over 600 private homes

More than 600 private residential units will be built on the first mixed commercial and residential land site in the new township Bidadari.

The first private land parcel was awarded yesterday to entities linked to the Singapore Press Holdings (SPH) and Kajima Development after they placed a $1.132 billion bid in a tender for the 99-year leasehold site next to Woodleigh MRT station.

The 2.54ha plot was hotly contested, drawing 12 bids for what is slated to be a landmark project in Bidadari, which has been oversubscribed in Build-to-Order launches.

Besides residential units, there will be a 65,000 sq ft community club and a 20,000 sq ft neighbourhood police centre - requirements of the tender - as well as a 310,000 sq ft retail and commercial component, SPH said yesterday.

The two partners, to have equal stakes in the joint venture, will bring in new ideas from Japan for this development, added the company.

SPH chief executive Alan Chan noted the company's experience in developing the upmarket condominium Sky@Eleven, as well as three malls, including Paragon.

"This strategic move shows our commitment in expanding and enhancing our property portfolio," he said. - THE 
STRAITS TIMES

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