Wednesday, January 22, 2025
No menu items!
No menu items!

SG billionaire Kwek Leng Beng’s company to sell premium condos in next 2 weeks as housing market shows signs of recovery

SINGAPORE: In the next two weeks, a company controlled by Singapore billionaire Kwek Leng Beng will begin selling units in a premium residential condominium project in central Singapore as the housing market shows signs of recovery.

According to Forbes, City Developments, Singapore’s second-largest property developer, will begin booking sales for its new 777-unit condo project, The Orie, on Jan 18.

On Thursday, Jan 2, data from the Urban Redevelopment Authority revealed a 2.3 per cent increase in Singapore’s private residential property prices in the fourth quarter of 2024 (Q4 2024).

Located in the sought-after Toa Payoh estate, The Orie’s one-bedroom units, around 48 square metres, will be priced from S$1.28 million, while five-bedroom units can go up to S$3.48 million.

In a statement, Sherman Kwek, the CEO of City Developments, said homebuyers of the development will benefit from its “central location and excellent connectivity.”

The project is a joint venture between City Developments, Frasers Property, controlled by Thai billionaire Charoen Sirivadhanabhakdi, and Japan’s Sekisui House.

According to VnExpress International, it will be built across two towers in the first private residential project in Toa Payoh since 2016. City Developments also owns rental properties in the UK, Japan, Australia, and the US.

Executive chairman Mr Kwek Leng Beng has a net worth of US$11.5 billion (S$15.76 billion), shared with his family, ranking him fourth on Forbes’ list of Singapore’s 50 Richest, published in September 2024. /TISG

Read also: Kwek Leng Beng’s love affair with hotels, including Trump’s Plaza

Featured image by Depositphotos (for illustration purposes only)

Hot this week

Sharon Osbourne regrets dramatic weight loss

Television personality Sharon Osbourne appeared on Piers Morgan’s show...

Brain Implant: Elon Musk’s Neuralink venture now ready for human trials

After controversial tests on monkeys, Elon Musk’s groundbreaking company,...

X users defending Emma Roberts over statement from Angelica Ross claiming she is transphobic 

The topic of transphobia is one of the utmost...

Ryeoun and Ha Yoo Joon’s tension boils over in ‘Namib’

KOREA: As reported by Soompi, Ryeoun faces a pivotal...

Blossoms and lanterns in Chinese New Year celebration at Gardens by the Bay

SINGAPORE: In late January, Singapore’s Gardens by the Bay...

‘Someone Cute’ — NMIXX’s Haewon teased for naming Byeon Woo Seok as her ideal type

KOREA: As reported by PINKVILLA, NMIXX's Haewon recently shared...

Man says new electric bus is uncomfortable, not senior-friendly

SINGAPORE: A man took to social media to express...

Would you live in a ground-floor unit in front of a car park? Residents weigh pros and cons

SINGAPORE: Singaporean residents weighed the pros and cons of...

Obesity prevalence: Singapore ranks 3rd in Southeast Asia

SINGAPORE: A recent infographic published by Seasia Stats shows...
spot_img

Related Articles

Popular Categories

spot_imgspot_img