New World Advancement Company Limited (" New Globe Advancement" or "the Team"), in close collaboration with SC Worldwide Advancements Pte Ltd as well as Far East Consortium International Limited (" FEC"), delights in to reveal the success of their joint quote for the very demanded Singapore's Government Land Sales (GLS) site on Cuscaden Roadway in Singapore, at a total premium of S$ 410 million (around HK$ 2.4 billion). This outstanding site in Singapore's high-end domestic market is yet an additional vital investment for the Team after our successful tender for an industrial landmark advancement in SKYCITY in Hong Kong. The Cuscaden plot is perfectly positioned in Area 10's Cuscaden Road, an area recognized as one of Singapore's a lot of respected household addresses. The story delights in a maximum level of comfort as well as connectivity with simply a brief walk to Orchard Roadway shopping area as well as the Wallich Residences in CBD. As one of the rarest launches along Orchard Road from GLS, it attracted a total of 9 tenders.
Mr. Adrian Cheng, Executive Vice-chairman and also General Supervisor of New Globe Growth disclosed that the land will be become a luxury household job enhanced by a focus on arts and culture, introducing 'The Artisanal Activity,' a core tenet and brand personality of New World Advancement, to the Singaporean community. Mr. Cheng commented: "I am really delighted that we will certainly work together with SC Global, a leading developer in Singapore, as well as Far East Consortium, that have a strong performance history. The common vision we show to our partners provides me fantastic confidence in the job. Our shared goals in mixing art and also workmanship with property projects will certainly imbue this area with a social strategy to living." SC Worldwide Growths is a leading designer of upmarket houses with trusted projects in Singapore, Australia, and other places. The company is renowned for elegant layout, infusing all its domestic projects with an artistic perceptiveness as well as a distinct feeling of style and taste.
"It has actually been greater than a decade since we saw a GLS site being offered along Orchard Roadway. Having actually created a variety of the benchmark buildings in the Orchard area, we are extremely pleased to have won the quote in collaboration with our popular partners, that share the very same vision in providing initial residences that raise bench in luxury living. Surrounded by Singapore's finest hotels with The Minister Hotel ahead, St Regis around the bend and 4 Seasons to the side, this very demanded address offers a fantastic chance to produce an unique brand-new collectible proper both the area and our luxury brands." stated Mr. Simon Cheong, Chairman and also CEO of SC Global Developments Pte Ltd. FEC has been operating in realty, hotels as well as various other companies in Asia and also the Pacific for greater than 40 years. FEC as well as New Globe Advancement are currently building the ARTRA high-end domestic task in Singapore's Area 3, closely linked to the Redhill MRT Station. This will certainly be yet one more significant financial investment in property advancement in Singapore complying with the ARTRA job.