SPH, Kajima break ground on Bidadari's The Woodleigh Residences
Development to be linked to Singapoire's first air-con basement bus interchange
The first private residential-cum-retail development shaping up in the new Bidadari estate will offer some 680 residential units and close to 28,000 sq m of retail gross floor area.
This maiden joint-venture project between Singapore Press Holdings (SPH) and Japanese developer Kajima Development will also connect to Singapore's first air-conditioned basement bus interchange.
Condominium units of The Woodleigh Residences, ranging from two- to four-bedroom units, are expected to be launched later this year.
SPH chief executive Ng Yat Chung told reporters at the project's groundbreaking yesterday that the date of launch and actual number of units to be released have not been determined yet.
Ahead of the mixed-use project's completion in the second half of 2022, the developers are looking for potential partners to develop retail concepts, including food and beverage offerings, educational offerings and medical services.
The groundbreaking was attended by Japan's Ambassador to Singapore Kenji Shinoda.
This marks SPH's second residential project after Sky@eleven in Thomson Lane, which was completed in 2010 and sold out not long after.
Its mall portfolio comprises the Paragon and The Clementi Mall, which are now part of SPH Reit, as well as The Seletar Mall.
"SPH's diversification into properties is an important element in our strategy to seek out new opportunities to add to our core media business," said SPH chairman Lee Boon Yang at the project's groundbreaking.
Singapore-based Kajima Overseas Asia is the South-east Asian arm of Tokyo-listed Kajima Corporation, while Kajima Development is the property development arm of Kajima Overseas Asia.
In June last year, SPH and Kajima Development had tabled a top bid of $1.13 billion for the much-coveted commercial and residential site, the first government land sales site offered in the new Bidadari estate.
Widely referred to as the "future Bishan" due to its central location, the Bidadari estate, spanning 93ha, is part of Toa Payoh town, and is bounded by Bartley Road, Sennett Estate, Upper Serangoon Road and Mount Vernon Road.
New Housing Board flats launched in the area, envisaged as "a community in a garden", have so far been over-subscribed.
Dr Lee noted that the development will complement and benefit from the adjacent Bidadari Park while residents will enjoy views over the Alkaff Lake and Bidadari Heritage Walk. Visitors going to the shopping mall will also be able to enjoy the surrounding park amenities.
Kajima Development project director Kazunori Ichihashi said Japanese design concepts will be introduced.