Singapore Land Group Limited (U06.SI)

UPDATE 1-Singapore Land Group wins $901 mln government land development contract

Singapore Land Group said on Tuesday its indirect joint venture firms won a bid to acquire and develop a piece of government land in Singapore for S$1.21 billion ($901.91 million). The real estate company said the Housing & Development Board officially awarded the site at Tampines Avenue 11, to Topaz Residential and Topaz Commercial. The contract entails converting the piece of government land into a mixed-use development comprising a commercial and residential development integrated with a bus interchange, a community club and a hawker center, SingLand said in a press release.