Wing Tai Holdings Subsidiary Wins Collective Sale of Lakeside Apartments for $273.89 Million

Wing Tai Holdings Limited, a Hong Kong-based real estate developer and subsidiary of Wing Tai Properties, has recently won the collective sale of the Lakeside Apartments for $273.89 million. The sale, which was concluded on the 19th of April, marks the first collective sale in 2021 to be concluded in Singapore.

The 5,172 square-meter site, which is located at Lakeside Grove, is zoned for residential use with a gross plot ratio of 2.8. The plot is expected to yield an estimated 553 residential units, which will mainly be two- and three-bedroom apartments. It is anticipated that the development will be completed within three to four years.

Wing Tai Holdings is no stranger to Singapore real estate, having previously acquired a number of sites in the area. The company is well-known for developing high-end properties such as the luxury condos at Marine Blue.

The success of the collective sale of the Lakeside Apartments highlights Wing Tai Holdings’ commitment to the Singapore market. The company has been actively involved in the local real estate market for many years, and this acquisition is a further indication of its long-term commitment to the area.

The collective sale of the Lakeside Apartments is significant not only for Wing Tai Holdings, but for Singapore as a whole. The successful sale of the site is expected to create new jobs, boost the local economy, and attract new businesses and investments to the area.

Furthermore, the sale of the Lakeside Apartments is expected to have a positive impact on the local property market. The collective sale will likely increase the value of surrounding properties, as well as the overall value of the Lakeside area.

The sale of the Lakeside Apartments is the latest in a series of successful collective sales completed by Wing Tai Holdings in Singapore. The company has previously acquired the sites of the former Serangoon Garden Estate and Amber Park, as well as other projects in the area.

Wing Tai Holdings’ track record in Singapore is testament to its strong position in the local real estate market. The acquisition of the Lakeside Apartments further cements the company’s standing as a major player in the Singapore property market.

Wing Tai Holdings’ latest acquisition is expected to benefit both the company and Singapore as a whole. The successful sale of the Lakeside Apartments is yet another indicator of the company’s commitment to the Singapore market, and is likely to have a positive impact on the local property market.

Wing Tai Holdings, a Singapore-based real estate developer, announced that its subsidiary, Wing Tai Properties, has won the collective sale of Lakeside Apartments for $273.89 million. The sale marks the company’s largest property acquisition in Singapore to date and is expected to strengthen its foothold in the local real estate market.

Located in Jurong West, the 7.7 hectare site has a total of 1,206 apartment units and is close to amenities such as shopping malls, eateries, and educational institutions. The sale marks the largest collective sale of a residential apartment block in Singapore since 2017.

The acquisition will allow Wing Tai to develop a new residential development with around 2,000 units and offer a range of amenities to its residents. The development is expected to benefit from its proximity to the Lakeside MRT Station and Jurong Innovation District.

The collective sale of Lakeside Apartments is the latest in a series of acquisitions by Wing Tai Holdings in Singapore. The company has been actively investing in the local property market since it was founded in 1957. In 2019, it acquired a mixed-use development in the Tanjong Pagar district for $1.2 billion. It has also purchased office buildings in the central business district and other areas of Singapore.

Wing Tai Holdings’ Chairman and CEO, Dr. Cheng Wai Keung, commented on the acquisition, stating that it was “an exciting milestone” for the company. He added that the purchase will help the company to grow its presence in the Singapore market and expand its portfolio of residential and commercial assets.

The acquisition of Lakeside Apartments is the latest in a string of investments by Wing Tai Holdings in Singapore. The company has a long history of investing in the local property market and is well-known for its commitment to quality and sustainability. Its development projects are designed to meet the highest standards of design, construction and sustainability.

Wing Tai Holdings is also investing in new technologies to enhance the quality of its developments. It recently launched a new residential development at Marine Parade which features a smart home system that allows residents to control their lights, temperature, and security The Lakegarden Residences from their smartphones.

The purchase of Lakeside Apartments is another example of Wing Tai Holdings’ commitment to the Singapore real estate market. With the purchase, the company is set to become one of the largest residential developers in the city-state. The development will provide residents with a modern and comfortable lifestyle, while also helping to boost the local economy.