The consortium formed by Singapore Press Holdings Limited (“SPH”) and Kajima Development Pte Ltd (“Kajima”) has been awarded the tender for a 99 year leasehold mixed commercial and residential site at Upper Serangoon Road by HDB. We submitted the highest bid of S$1.132b for the land size of approximately 25,440.8 sqm. Our consortium partners will take equal stakes in the joint venture. Singapore Press Holdings (SPH) and Kajima Development Pte. Ltd. noted that Bidadari was a new housing estate at the fringe of the city centre and that it was envisioned to be a “community in a garden”.
“SPH sponsored real estate investment trust, SPH Reit,. Developed an upmarket residential condominium, Sky@eleven, at Thomson Road, as well as 3 malls – Paragon, The Clementi Mall and The Seletar Mall. This strategic move shows our commitment in expanding and enhancing our property portfolio.
Kajima Development Pte Ltd. is the property development arm of Singapore-based Kajima Overseas Asia, which in turn is the South-east Asia arm of Japan’s Kajima Corporation, whose businesses include construction, property development, engineering and design. Kajima also developed the 71 Robinson Road office project in the CBD as well as Bishopsgate Residences and Sui Generis condominium in the Balmoral area. Kajima also partnered Pontiac Land in the Millenia Singapore development has strong development and construction capabilities and workmanship.