Hoi Hup Realty & Sunway Developments
Two freehold sites at The Continuum, sitting between Haig Road and Tanjong Katong Road in prime District 15 in the east, were sold for $815 million to a joint venture between Hoi Hup Realty and Sunway Developments. The deal is the largest residential land sale since the July 2018 round of property cooling measures, when the government raised Additional Buyer's Stamp Duty (ABSD) rates and tightened Loan-to-Value limits. The developer and its long-term joint venture partner, Sunway Developments intends to redevelop the sites into two luxury high-rise condominiums with more than 800 units.
An established property developer in Singapore, Hoi Hup Realty Pte Ltd is committed to creating living spaces of the highest quality, comfort, functionality and style. It has won numerous accolades, including the 5CA Quality Excellence Award - Quality Champion (Platinum) in 2018 and 2019, as well as 5CI Asia Top 10 Developers Award in 2017, 2018 and 2019. Upcoming projects include Ki Residences at Brookvale and Parc Central Residences.
As the property division of Sunway Group, Sunway Developments Pte Ltd is part of a leading property-construction group that is listed on Bursa Securities, Malaysia. It has vast experience in managing and developing innovative and quality residential and non-residential properties, which include retail, leisure, healthcare, hospitality and other commercial assets.