Yahoo Finance Wing Tai wins tender for Lakeside Apartments collective sale for S$273.9 million
The collective sale of Lakeside Apartments went through on its second en bloc on 26 May, with Wing Tai’s wholly-owned subsidiary Winville Investment Pte. Ltd. successfully tendering for the plot with a bid price of S$273,888,888.
This is a 14% premium from its original reserve price of S$240 million.
Located at 9E and 9F Yuan Ching Road on the edge of Jurong Lake Gardens, Wing Tai announced plans to redevelope the 134,177 sqft (12,465.4 sqm) site into an iconic residential development of more than than 300 units.
The new project will offer future residents unobstructed picturesque waterfront views of Jurong Lake and gorgeous lush greenery of the Jurong Lake, Chinese and Japanese Gardens.
Ms Tan Hwee Bin, Executive Director of Wing Tai Holdings, is looking forward to developing the project. “Wing Tai is pleased to have won the tender for this attractive site set within nearby lush gardens with unobstructed views of tranquil Jurong Lake, as well as the vibrancy of the Jurong Lake District in future.”
Connectivity
Lakeside MRT is a 10-minute bus ride away or a 15-minute walk.
Those who commute by car can easily access major roads and expressways, such as the Ayer Rajah Expressway (AYE) and Pan Island Expressway (PIE).
Connectivity will be further enhanced with the Jurong Region Line and Cross Island Line scheduled to be completed by 2029 and 2030.
Jurong East Integrated Transport Hub is slated to be up and running by 2027. The new hub will provide residents with not just seamless connection between the East-West, North-South and future Jurong Region Line), but also bus interchanges as well as offices and retail spaces.
Amenities
Well-established shopping malls such as JEM, Westgate, IMM and JCube are just a 9-minute drive away. There, you can find everything you need from a library, cinema, and a plethora of food and beverage and retail options.
Healthcare facilities such as Ng Teng Fong General Hospital and Jurong Community Hospital are also located near the malls.
Taman Jurong Food Centre is a 12-minute stroll away, where you can find a variety of local food stalls spread over two floors.
A wet market on the first floor provides a wide range of fresh produce for residents who prefer grocery shopping at the crack of dawn.
Schools
Some schools within 1km of the current Lakeside Apartments plot are Lakeside Primary school (691m) as well as Yuan Ching Secondary (847m), and Jurong Secondary school (869m).
Other schools are slightly further away, such as Fuhua Primary (1226m) and Secondary school (1229m), Yuhua Secondary school (1285m) and Shuqun Primary school (1372m).
Jurong Lake District
The site is located within Singapore’s second Central Business District (CBD), Jurong Lake District (JLD).
There are plans underway by the Singapore Tourism Board is to build Jurong up as a a new integrated tourism precinct for Singapore. Projected to be completed by mid-2028, the precinct will consist of hotels, attractions, eateries and entertainment offerings to attract visitors to the region.
The development is also a 10-minute drive to the future Jurong Innovation District (JID) – a one-stop hub for an advanced manufacturing ecosystem of Research & Development centres and technology partners such as Siemens, Shimano, Hyundai Motor and A*STAR.
Its expected completion in 2028 will catapult Jurong’s growth into a key commercial and lifestyle hub.
“We are excited to be part of the Jurong Lake District transformation and look forward to building an iconic development which caters to the modern lifestyle needs of homebuyers.”, says Ms Tan.
“Given the limited supply of new residential developments in the area, we are confident that demand for this new project will be strong.”
Are you excited about the new development slated to replace Lakeside Apartments? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, check out Analysing the Jurong/Lakeside neighbourhood and 99 Researcher: Rise Of Singapore’s West Region.
Looking for a property? Find the home of your dreams today on Singapore’s fastest-growing property portal 99.co! If you would like to estimate the potential value of your property, check out 99.co’s Property Value Tool for free. Also, don’t forget to join our Facebook community page or Telegram chat group! Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
The post Wing Tai wins tender for Lakeside Apartments collective sale for S$273.9 million appeared first on .
