SP Setia to redevelop Singapore property

SP SETIA Bhd is buying the Leong Bee Court strata development in Singapore for RM159 million, and it plans to redevelop the place into a new apartment with a gross development value of RM318 million.

Work is expected to start in 2012 and finish in three years, it said in a statement to Bursa Malaysia yesterday.

Leong Bee Court sits on a parcel of freehold land of 29,436 sq ft within a matured residential enclave of Potong Pasir.

It is also within close walking distance to the Potong Pasir North East MRT Station

By Business Times