City Developments Unit Bags SG$542 Million Residential Project in Singapore

MT Newswires06-16

A joint venture involving a City Developments (SGX:C09) subsidiary on Tuesday officially secured a residential development project in Singapore, according to a same-day filing.

City Developments' CDL Constellation and Garden Estates will acquire and develop the Peck Hay Road site at a tender price of SG$542.4 million under an 80/20 partnership deal.

Singapore's Urban Redevelopment Authority awarded the project following a joint tender submitted June 11.

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