The recent sale of a penthouse at The Trizon, a 289-unit condo located on Ridgewood Close, was the highlight of the week from Feb 25 to March 4. The unit, which measures 5,737 sq ft and is situated on the 23rd floor, was sold for $9.76 million ($1,701 psf) on Feb 27. This sale marks the most profitable resale transaction at the condo during the stated period.

The unit was previously bought for $6.55 million ($1,142 psf) in March 2016, which means that the seller earned a profit of $3.2 million (49%). This translates to an annualized gain of 4.5% over nine years. This also makes the sale the second most profitable resale transaction at The Trizon to date.

The record for the most profitable resale transaction at The Trizon was set two years ago in August 2023, when a penthouse measuring 7,083 sq ft was sold for $11 million ($1,553 psf). The previous owner had bought the unit for $7.1 million ($1,002 psf) in November 2019, resulting in a record profit of $3.9 million (55%). This also translates to an annualized gain of 12% over close to four years.

The Trizon is a prime freehold development located in District 10. It is situated close to the Mount Sinai landed enclave, as well as the private residential estates of Pandan Valley and Pine Grove. Other nearby private residential developments include Pandan Valley and two new 99-year leasehold projects, namely the 520-unit Pinetree Hill and the 552-unit Nava Grove.Read also: Sale of Yong An Park penthouse rakes in $6.5 mil profitAdvertisementThe sale of the penthouse at The Trizon on Feb 27 resulted in a profit of $3.2 million for the seller (Picture: Samuel Isaac Chua/)The Trizon offers a variety of two- to five-bedroom units, with typical sizes ranging from 1,012 sq ft to 5,102 sq ft. Meanwhile, penthouses measure between 5,328 sq ft and 7,083 sq ft. According to data from EdgeProp Singapore, the average resale price at The Trizon is about $2,017 psf. Comparatively, the average price at nearby Pandan Valley, a sprawling 605-unit development, stands at $1,449 psf. Meanwhile, the average price at Ridgewood, a 999-year leasehold development comprising 425 condo units and 38 landed units, is $1,728 psf.

Pinetree Hill, which was launched for sale in July 2023, has seen units sold this year at an average price of $2,550 psf. This is compared to an average price of $2,458 psf from its launch till the end of 2024, based on caveats lodged. The 520-unit development is currently about 78% sold. Similarly, the 552-unit Nava Grove, which was launched in November last year, is approximately 75% sold, with an average selling price of $2,460 psf.

Another notable sale that took place during the week was that of a 1,442 sq ft unit at Haig Court on Feb 27. The three-bedroom unit on the third floor transacted for $2.84 million ($1,968 psf). However, records show that it was previously sold for just $798,868 ($554 psf) back in 2005. As a result, the seller earned a profit of $2.04 million ($255%), which translates to an annualized gain of 6.8% over a period of 19 years.

Haig Court is a freehold development comprising 360 units, and is located on Haig Road in District 15. Completed in 2004, the condo is centrally located in Marine Parade and is close to shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. It is also situated near several well-known schools in the area, such as Chung Cheng High School, Tanjong Katong Girls’ School, Tanjong Katong Secondary School, and the Tanjong Katong campus of the Canadian International School.

Haig Court is situated right next to two new 99-year leasehold private residential projects — the 846-unit Emerald of Katong and the 638-unit Tembusu Grand. Other new projects in the vicinity include The Continuum, an 816-unit freehold development on Thiam Siew Avenue, and Grand Dunman, a 1,008-unit 99-year leasehold project on Dunman Road.Read also: Four-bedroom unit at Mandarin Gardens reaps $3.83 mil profitAdvertisementAdvertisementLast year, Haig Court recorded eight resale transactions, which ranged from the sale of a 1,076 sq ft two-bedder for $1.85 million ($1,719 psf) on Jan 16, to the sale of a 1,550 sq ft four-bedroom unit for $3.45 million ($2,226 psf) on Dec 19. Profits from the resale transactions last year ranged from $450,000 to $2.06 million.

So far this year, there have been two resale transactions at Haig Court. The other sale was a 1,453 sq ft unit that was sold for $3.02 million ($2,078 psf) on Jan 17. This means that the seller earned a profit of $2.13 million.

On the other hand, the most unprofitable resale that happened during the week of Feb 25 to March 4 took place at Orchard Scotts. On Feb 25, a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf). However, caveats show that the unit was previously bought for $4.35 million ($1,955 psf) in 2010. This resulted in a loss of $576,000 (13%) for the seller, which translates to an annualized loss of 1% over a period of almost 15 years.

Investing in a condo has various advantages, one of which is the opportunity to leverage the property’s value for future investments. A considerable number of investors utilize their condos as security to secure additional financing for new ventures, thereby diversifying their real estate portfolio. While this approach can potentially increase returns, it also carries a certain level of risk. Thus, it is important to have a well-thought-out financial plan and carefully evaluate the possible effects of market fluctuations. With the added option of investing in a condo, investors have the potential to further enhance their real estate investments.

Based on the compiled resale caveats for Orchard Scotts, the resale price at the condo has been declining in recent years. In March 2010, units were typically sold for around $2,061 psf. However, this has since fallen to $1,747 psf as of March 2020. More recently, there has been a slight uptick in average resale prices, which currently stand at around $1,760 psf.

Orchard Scotts, a 99-year leasehold condo situated on Anthony Road in District 9, was completed in 2008. It comprises 387 units, ranging from two- to five-bedroom units with sizes of 936 sq ft to 4,435 sq ft.…

Investing in a condo in Singapore has proven to be a wise choice for many, thanks to its numerous advantages. With its high demand, potential for capital appreciation, and attractive rental yields, a condo in Singapore offers promising returns. However, before making a decision, it is vital to carefully consider various factors such as location, financing options, government regulations, and current market conditions. Through thorough research and seeking professional advice, investors can make informed choices and maximize their profits in Singapore’s dynamic real estate market. Whether a local investor looking to diversify their portfolio or a foreign buyer in search of a stable and profitable investment, condos in Singapore present a compelling opportunity.

These are the top 5 most expensive condos in Singapore The Esta, a freehold development located in District 15, has set a new record for the highest price per square foot achieved for a private condo from Feb 21 to 28. According to recent data, a 1,001 sq ft two-bedroom unit at the development changed hands for $2,377 psf on Feb 26, fetching a total of $2.38 million. This transaction surpasses the project’s previous record of $2,317 psf, which was set in January last year when a three-bedroom unit was sold for around $3.2 million. The average resale price at The Esta has been steadily rising over the past three years, with prices increasing by 11.7% since 2022. The most expensive unit sold at the development was a 3,477 sq ft, five-bedroom apartment, which went for $6.25 million in October 2021. The location of The Esta, just a stone’s throw from Tanjong Katong MRT Station and nearby lifestyle hubs, makes it a highly sought-after property. In second place for the highest new psf-prices recorded during the review period is D’Leedon, a 99-year leasehold condo located in District 10. A 1,421 sq ft three-bedroom unit on the 29th floor was sold for $3.25 million on Feb 25, setting a new psf-price record of $2,287. This transaction slightly surpassed the previous record of $2,180 psf, which was achieved in October last year. The development has seen 11 units sold since the start of this year, with an average price of $2,065 psf. In third place is Citylights, a 600-unit, 99-year leasehold condo situated in Kallang. An 893 sq ft two-bedroom unit on the 26th floor sold for $1.98 million on Feb 27, setting a new psf-price high of $2,216. This represents a 4.4% increase from the previous peak of $2,122 psf, which was set in December last year. Completed in 2007, Citylights is close to Lavender MRT Station and offers a range of units from one to four bedrooms. No new psf-price lows were recorded during the period in review.…

Rewritten:This year’s Emerging Trends in Real Estate Global Outlook report, published on March 12 by PwC and the Urban Land Institute (ULI), revealed that low yields and sluggish transaction volumes were top concerns for property investors in the Asia Pacific (Apac) region.

The report gathered insights from global asset managers, including Blackstone from the US, Savills Investment Management from the UK, and CBRE Investment Management. According to survey responses, over 70% of investors identified low yields, persistently high interest rates, and geopolitical tensions as their main concerns.

When deliberating on investing in a condo, it is crucial to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the condo’s purchase price. In the dynamic real estate market of Singapore, rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those in close proximity to business districts or educational institutions, offer more favorable rental yields. By conducting thorough market research and seeking guidance from real estate agents, one can gain valuable insights into the rental potential of a specific condo. It is essential to take into consideration that rental yields are an essential aspect of condo investments.

Despite these challenges, the report notes that industry leaders still view Asia Pacific as an attractive diversification strategy, thanks to its growing population and other demographic factors, as well as its differing monetary policies, such as Japan’s decision to increase short-term interest rates.

Last year, real estate transactions in the region saw a 13% year-on-year growth, reaching US$173.5 billion (SGD $231.3 billion). This outpaced the growth in other regions, such as Europe, Middle East, and Africa (EMEA) at 12%, and the Americas at 11%.

However, as Europe and North America enter a new capital markets cycle with expected improvements in transaction volumes, Apac is predicted to experience sluggish growth. The region’s liquidity was impacted last year by a drop in transaction volume. In China, transactions decreased by 25% year-on-year to US$418.3 billion (SGD $557.6 billion), while Hong Kong SAR saw a 1% dip to US$15.7 billion (SGD $20.9 billion).

Compared to the concerns in Apac, investors in Europe are focused on different issues. The top three concerns in the region, according to asset managers, were international political instability (85%), an escalation of war (83%), and Europe’s economic growth (77%).

Data from leading US-based research and data analytics company MSCI also indicate that commercial property prices in the US stabilized last year, ending the year with only a 0.7% decrease. As a result, investors may shift their attention and capital towards these regions in the coming months.

The report also highlighted that data center assets scored the highest investment and development prospects across all three regions in 2025. According to New York-based research firm Green Street, the demand for data centers globally reached record levels last year, with rents increasing at a double-digit pace. MSCI’s latest research also projects 2024 as a significant year for this asset class, with an increase of over 60% in US acquisitions of existing data centers through single property and portfolio deals.

In September of last year, Blackstone and the Canada Pension Plan Investment Board (CPP) acquired data center company AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board for over US$16 billion (SGD $21.3 billion). This deal was the largest commercial real estate transaction recorded in Asia Pacific and globally for 2024.

In conclusion, despite challenges, the Asia Pacific region remains attractive for diversification among property investors, while data center assets are expected to have strong prospects for investment and development in the coming years.…

A 999-year leasehold conservation shophouse, located at 20 Liang Seah Street, has been put on the market for $15 million. The property is being sold through an expression of interest (EOI) exercise by SRI Capital Market, who have been appointed as the exclusive marketing agent.

When contemplating an investment in a condo, it is crucial to evaluate the potential rental yield. This refers to the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, condo rental yields can significantly differ depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer more attractive rental yields. To accurately assess the rental potential of a specific condo, it is essential to conduct thorough market research and seek advice from real estate agents. Additionally, you can explore condo options to find the best investment opportunity.

The shophouse spans three storeys and is situated on a 1,129 sq ft plot that is zoned for both residential and commercial use, with a gross plot ratio of 4.2 in accordance with the latest Master Plan. It boasts a built-up area of 2,635 sq ft, with a guide price of $2,635 per square foot.

The ground floor and second floor of the shophouse have been approved for restaurant use, while the top floor is currently leased for residential purposes. The property is located within the Beach Road secondary settlement conservation area, which allows for new extensions of up to five storeys, subject to approvals.

According to Low Choon Sin, the managing partner of SRI Capital Market, the property is well-suited for end-users such as F&B tenants or corporate offices, as the residential space on the third floor can be used to accommodate staff. He also notes that the shophouse enjoys a prominent frontage along Liang Seah Street, which sees high vehicular traffic during the day. Additionally, it is conveniently located near the various restaurants and shops in the Bugis area.

Low believes that 20 Liang Seah Street presents a great opportunity for investors to acquire a 999-year leasehold property that could be held for the long term, taking advantage of the rejuvenation of the Bugis area. This is further emphasized by the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will add to the vibrancy of the vicinity.

The EOI exercise for the sale of 20 Liang Seah Street will close on April 10. Interested parties are encouraged to seize this opportunity to invest in a prime property with potential for long-term growth.…

from the Ting family

The long-standing feud between the Kwek family members at City Developments Limited (CDL) appears to have reached a resolution, with executive chairman Kwek Leng Beng withdrawing legal proceedings against a group of directors led by his son, group CEO Sherman Kwek.

Following the withdrawal of the legal actions, the board of CDL will now consist of four members: Kwek Leng Beng, Sherman Kwek, and two newly appointed independent directors, Jennifer Duong Young and Su Yen Wong.

In a joint statement, the board members have expressed their commitment to putting aside their differences and working towards the best interests of CDL and its stakeholders. They have also reiterated their focus on strengthening the company’s business operations, completing ongoing projects, and maximizing shareholder value.

This development comes after the resignation of Dr Catherine Wu, another independent director who was at the center of the boardroom dispute. Kwek Leng Beng has clarified that the allegations made against CDL’s corporate governance by Wu were unfounded, and that the company will continue to uphold good governance practices.

When considering an investment in a Singapore Condo, it is essential to carefully assess its potential rental yield. This refers to the yearly rental income as a percentage of the property’s purchase price. The rental yield for condos in Singapore can vary greatly based on various factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more promising rental yields. To accurately gauge the rental potential of a specific Singapore Condo, it is advisable to conduct comprehensive market research and seek guidance from experienced real estate agents.

In the midst of this turmoil, CDL has also announced the acquisition of five student accommodation properties in the United Kingdom for $357 million from the Ting family. This is in line with the company’s strategy of expanding its global presence and strengthening its various brands under Millennium & Copthorne.

Furthermore, CDL has also recently offered a portfolio of 11 strata shops at The Venue Shoppes for $40.77 million, and has seen strong sales at its newest residential development, The Residences at W, with 65 units sold at an average price of $1,780 per square foot.

With the resolution of the boardroom feud and the company’s continued strategic developments, CDL is poised for future growth and success in the real estate market.…

Steve Leung Design Group (SLD), led by renowned architect and designer Steve Leung, is breaking into the European market with a joint venture with Italian designer Andrea Bonini. This move marks SLD’s first foray into Europe and their newest branch company, SLD . Andrea Bonini.

With a commitment to offering exceptional interior design services and products, SLD . Andrea Bonini will cater to clients in both Asia and Europe, specializing in high-end residences and luxury hospitality. The company’s debut at the renowned Salone del Mobile furniture fair in Milan this coming April will also serve as the launch of their first collection, a collaboration with smart home manufacturer Moorgen that features a range of smart home lighting.

.

When considering investing in property in Singapore, it is crucial for international investors to have a clear understanding of the regulations and limitations that govern property ownership. Unlike landed properties, which have stricter ownership rules, foreigners are generally able to purchase condos with fewer restrictions. However, it is important to note that foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their first property purchase. Despite this extra cost, the stability and potential growth of the Singapore real estate market continues to attract foreign investment, making it an attractive option for those looking to invest. New condo launches are also continuously popping up, providing even more opportunities for foreign investors to enter the market.

This collaboration not only marks SLD’s first expansion overseas, but also aligns with their new business direction focused on rejuvenation, diversification, and globalization. In a press release on March 11th, the company stated, “With our 28 years of design experience and competitive edge in the market, our goal is to enhance the lifestyles of clients across the world through our designs.”…

on launch weekend

CapitaLand Group has recently signed a Memo of Understanding (MoU) with Microsoft to take advantage of advanced technologies and Artificial Intelligence (AI) for its businesses. As part of the collaboration, CapitaLand will join Microsoft Singapore’s AI Pinnacle Program, granting access to Microsoft platforms, services, and solutions that can enhance customer engagement and boost operational efficiency in various areas of the company, including funds, investments, retail, lodging, and development.

One of the main aims of this partnership is to identify potential opportunities for collaboration in infrastructure development, leveraging Microsoft’s Azure cloud computing platform to improve data center design and products for CapitaLand Investment. Additionally, the integration of AI, data analytics, and machine learning will play a crucial role in strengthening CapitaLand’s digital and business transformation efforts.

When it comes to investing in a condo, securing financing is a crucial factor to consider. In Singapore, there are various mortgage options available, but it is crucial to keep in mind the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can take based on their income and current debt obligations. Therefore, it is essential for investors to fully comprehend the TDSR and seek the guidance of financial advisors or mortgage brokers to make well-informed decisions about their financing choices. This will also help prevent them from over-leveraging themselves. Furthermore, keeping an eye on New Condo Launches can be beneficial in finding suitable financing options.

Quah Ley Hoon, Group Chief Corporate Officer of CapitaLand Investment, believes that this collaboration with Microsoft is a significant step in their digital transformation journey. She highlights how AI will be pivotal in shaping the company’s future by driving operational efficiencies and creating value for all stakeholders.

In another development, CapitaLand Investment (CLI), the real asset management arm of CapitaLand, has also entered into an MoU with the Singapore Business Federation (SBF). The aim of this partnership is to establish a framework for digitalization and AI integration across CLI’s retail ecosystem. As part of this initiative, the two entities will work together to encourage the adoption and proof of concept for AI, data analytics, and cybersecurity solutions, enhancing business efficiency and competitiveness. Furthermore, they will also focus on developing the AI-focused competency and skills of retail tenants.

This collaboration between CapitaLand and Microsoft, as well as the MoU with SBF, showcase CapitaLand’s commitment towards digitalization and AI integration to stay ahead in the competitive market. These efforts will not only improve operational efficiency but also create a more seamless and enhanced experience for customers and stakeholders. CapitaLand Investment is also making significant strides in its growth strategy, announcing the acquisition of three properties in Singapore and Thailand and reporting stable cash flow despite a decline in Patmi. Moreover, the last penthouse in One Pearl Bank has been sold, marking a successful 100% sale on its launch weekend.…

of 774 units

CapitaLand Group has recently signed a memorandum of understanding (MOU) with Microsoft, aiming to utilize artificial intelligence (AI) and advanced technologies in their businesses.

Investing in a condo in Singapore presents numerous benefits, one of the most significant being the potential for capital appreciation. This is largely due to the strategic location of Singapore as a global business hub, along with its robust economic fundamentals that result in a constant demand for real estate. Over the years, the real estate market in Singapore has consistently shown an upward trend, with prime locations for condos experiencing considerable appreciation. By making smart investments at an opportune time and holding onto the property for an extended period, investors can reap tremendous capital gains. Consider adding Singapore Condo to your list of potential investments for potential growth and returns.

Through this partnership, CapitaLand will become a part of Microsoft Singapore’s AI Pinnacle Program, which will allow them to leverage Microsoft’s platforms, services, and solutions to enhance customer engagement and improve operational efficiency across all of their sectors, including funds, investments, retail, lodging, and development.

Some of the key areas of collaboration between the two organizations include infrastructure development, using Microsoft’s Azure cloud computing platform to develop data center designs and products for CapitaLand Investment, and integration of AI, data analytics, and machine learning to support their digital and business transformation initiatives.

In a statement, Quah Ley Hoon, the Group Chief Corporate Officer of CapitaLand Investment, shared that this collaboration with Microsoft is a significant step in their digital transformation journey. She believes that AI will play a crucial role in shaping their future by driving operational efficiencies and creating value for all their stakeholders.

Separately, CapitaLand Investment (CLI), the real asset management arm of CapitaLand, has signed an MOU with the Singapore Business Federation (SBF) to establish a framework for digitalization and integration of AI across CLI’s retail ecosystem.

This includes various initiatives like facilitating the adoption and proof of concept for AI, data analytics, and cybersecurity solutions to enhance business efficiency and competitiveness, as well as developing AI-focused competencies and skills among retail tenants.

With these collaborations, CapitaLand Group aims to stay at the forefront of digital transformation and innovation, ensuring sustainable growth and long-term success for their business.…

ERA Realty Network is offering a collection of 14 retail shops for sale through an expression of interest (EOI) exercise. These properties, priced at a total of $26.46 million, are located at Peninsula Plaza, Sim Lim Square, and Far East Plaza.

The two units at Peninsula Plaza, a 999-year leasehold mixed-use development on North Bridge Road, have a combined strata area of around 990 sq ft and are asking for $8 million, or $8,081 psf. Peninsula Plaza, completed in 1980, has a six-story retail podium and a 24-storey office tower, and is connected to the City Hall MRT Interchange Station.

At Sim Lim Square, 11 commercial units on the fifth floor, with a total strata area of 5,081 sq ft, are available for sale at $15.855 million. These units, which are zoned for commercial use, have a 99-year lease that commenced in April 1983. Most of the units are currently tenanted and face the mall’s main atrium.

The remaining unit for sale is at Far East Plaza on Scotts Road. This freehold retail unit, situated on the second floor, has a strata floor area of 355 sq ft and is priced at $2.6 million, or $7,324 psf. Far East Plaza, completed in 1982, comprises a five-story retail mall and serviced apartments, and is within walking distance of Orchard Road MRT Station.

According to ERA, the properties will attract interest from both property investors and business owners. Donald Goh, director of capital markets and investment sales at ERA, notes that last year, there were 28 deals for strata retail sales in the Downtown Core and 33 deals in the Orchard Planning Area. Goh adds that there is still strong demand for strata retail shops, as seen from recent sales in Lucky Plaza, Orchard Towers, and The 101.

.

Rewritten:

Singapore is a country where location plays a crucial role in real estate investments. This is especially true when it comes to condos. Those that are situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs tend to experience a higher appreciation in value. Prime locations in the city include Orchard Road, Marina Bay, and the Central Business District (CBD), which have consistently shown growth in property values. Families also seek out condos near these areas due to their proximity to good schools and educational institutions, making them highly desirable investments. If you are looking to invest in Singapore, consider a condo in the central area, such as Singapore Condo, for its potential for long-term growth and high demand.

The EOI for these properties will close on April 17 at 3pm. Interested parties can check out the latest listings for Peninsula Plaza properties.…

GuocoLand has recently secured a green financing facility worth $367.1 million from DBS Bank for the development of its Faber Walk site. The residential land parcel, which was awarded to GuocoLand and its joint venture partners TID and Hong Leong Holdings through a Government Land Sale tender last November, will see the construction of 399 residential units spread across nine low-rise blocks. With a land area of 277,659 square feet, the partners had emerged as the top bidder with a bid of $349.86 million, translating to $900 per square foot per plot ratio.

The upcoming development is located in the Faber Walk landed private residential enclave, next to the Faber Hills estate. It boasts a waterfront location, adjacent to the Pandan River, as well as the soon-to-be-completed Old Jurong Line Nature Trail. In line with its commitment to sustainable development, GuocoLand has obtained a green facility for this project, adding to its existing portfolio of green initiatives in other developments such as Wallich Street’s Guoco Tower, Beach Road’s Guoco Midtown, Tan Quee Lan Street’s Midtown Modern, and Lentor Mansion in Lentor Gardens.

Obtaining financing is a crucial element of investing in a condominium. In Singapore, there are various mortgage choices available, but it is important to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can take, taking into consideration their income and existing debt responsibilities. To avoid overextending oneself, it is crucial for investors to comprehend the TDSR and to seek guidance from financial advisors or mortgage brokers. Additionally, staying updated on New Condo Launches can also aid in making informed financing decisions.

The Faber Walk development is expected to be awarded the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion, further solidifying GuocoLand’s reputation as a developer committed to sustainability. Dora Chng, the residential director of GuocoLand, expresses excitement about the project, stating that they will utilize the group’s end-to-end value chain capabilities to create sustainable developments with biophilic designs, similar to the successful launches of Lentor Modern and Lentor Mansion in the Lentor Hills estate.

GuocoLand’s next project is a 941-unit development in its Upper Thomson Road (Parcel B) site, awarded in April last year. Together with Hong Leong Holdings, the development is slated for launch in the second half of this year.…