Wing Tai wins tender for Lakeside Apartments en bloc with S$273.89M bid

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Wing Tai Holdings has won the tender for the collective purchase, or en bloc deal, for the Lakeside Apartments site for S$273.89 million, the property developer said in a filing to SGX Thursday.

The property is located near Singapore’s Jurong Lake Gardens, at 9E and 9F Yuan Ching Road, the filing said. The site is in the Jurong Lake District, which has been earmarked as the second central business district (CBD) for the city-state, Wing Tai said.

Wing Tai said it planned to redevelop the site, located near the Lakeside MRT station, into a residential development with more than 300 units.

“Given the limited supply of new residential developments in the area, we are confident that demand for this new project will be strong,” Tan Hwee Bin, executive director of Wing Tai, said in the statement. She added the project would contribute to the transformation of the district.

Correction: This item misstated the size of the deal in the headline. The correct figure is S$273.89 million.