Sunway Berhad, in collaboration with Hoi Hup Realty Pte Ltd, has secured a prime Executive Condominium (EC) site at Tengah Plantation Close in Tengah New Town through its subsidiary, Sunway Developments Pte Ltd. The successful bid, amounting to SGD423.38 million (approximately MYR1.5 billion), marks the second victory for the joint venture after clinching another EC site at the same location in September 2023.
Spanning 20,038.2 square meters with a maximum permissible gross floor area of 56,107 square meters, the new EC site is strategically situated within walking distance of the upcoming Tengah Park MRT station on the Jurong Regional Line. Additionally, its 99-year leasehold tenure offers convenient connectivity to other parts of Singapore via the Pan Island Expressway (PIE).
Positioned near prominent educational institutions such as ACS (Primary) and Princess Elizabeth Primary School, as well as popular lifestyle and recreational hubs including JEM, Westgate, and IMM malls, the site promises abundant shopping, dining, and entertainment options for residents.
Moreover, its advantageous location within the burgeoning Tengah New Town and proximity to the neighboring Jurong Lake District and Jurong Innovation District further enhance its appeal. Tengah New Town is envisioned as a model of smart and sustainable living, featuring town-wide integration of smart technologies and green initiatives.
The Jurong Lake District offers a transformative urban experience, blending convivial plazas, serene public spaces, verdant lakefront landscapes, and indigenous flora. On the other hand, the Jurong Innovation District is poised to become a hub for next-generation high-tech industries, digital technology, and advanced manufacturing.
Sunway Property, with a total remaining landbank of 2,467 acres and unbilled revenue nearing RM3.7 billion as of December 31, 2023, continues to solidify its presence in the real estate market through strategic acquisitions and development initiatives.
