Selangor Dredging Berhad (SDB) has entered into an agreement to purchase via Tiara Land Pte Ltd, a 50% associated company of SDB International Sdn Bhd, 17 parcels of land from individual land owners for a sum of SG$60,262,500 million equivalent to RM180,048,768. Purchase of the land will be funded by both internally generated funds and bank borrowings.
Collectively the 17 parcels of land measures 17,949.15 sq ft and currently houses several buildings. It is located on Woodsville Close and Meyappa Chettiar Road, District 13, Singapore and is conveniently accessible being only 200 meters away from the Potong Pasir MRT station.
These parcels of land which will be amalgamated, are located close to amenities such as established schools, shopping and recreational facilities.
SDB first ventured into property development in Singapore in 2008, and now has developed five developments in Singapore, all of which were fully sold prior to completion. Thereafter, SDB purchased a parcel of land in Serangoon in December 2016 and another parcel in Draycott Park in June 2017. Both developments are expected to be launched within the next few months.
While there is no immediate plan to develop this parcel of land, SDB is confident that like its previous developments, it will be well received – not only due to the location, but also due to the design concept and design planning synonymous with all SDB developments.
