Lakeside Residences Developer
The purchase price of Lakeside Condo is about USD 33.88 million (14%) higher than the starting price of USD 240 million listed when the 120-unit development was launched for collective sale in March this year. According to PropNex, each holder will receive $2.28 million in proceeds from the transaction.
Leading real estate developer Wing Tai Holdings has won the bid for the collective sale of Lakeside Apartments in Jurong. The developer paid $273.88 million for the 99-year lease. PropNex Realty is the exclusive marketing agent for this collective sale.
Wing Tai was founded in 1955 in Hong Kong and incorporated in Singapore on 9 August
1963. Today, Wing Tai Holdings Limited is Singapore's leading property developer and
lifestyle company. Listed on the Singapore Stock Exchange since 1989, it is an
investment holding company with a key focus on growth markets in Asia, with assets
exceeding S$4.5 billion. Through a network of companies under the Wing Tai Asia
brand, viz. Wing Tai Holdings Limited (Singapore), Wing Tai Malaysia Sdn. Bhd.
(Malaysia), Wing Tai Properties Limited (Hong Kong), Wing Tai China Pte Ltd (China)
and their subsidiaries, Wing Tai Asia has core businesses in property investment and
development, lifestyle retail and hospitality management in key Asian markets.