, to focus on coworking and collaborationAurum Land, a subsidiary of Woh Hup, has acquired Kew Lodge, a freehold landed residential site at Kheam Hock Road in District 11 for $66.8 million. This transaction marks the first collective sale since fresh cooling measures were introduced on April 27.The site comprises 11 townhouses ranging from 2,013 sq ft to 2,852 sq ft on a 34,433 sq ft plot. According to the URA 2019 Master Plan, it can potentially be redeveloped into a new project comprising bungalows, semi-detached houses and/or terrace houses.

The sale of Kew Lodge was brokered by Sakal Real Estate Partners and is pending approval of the Strata Titles Board. The deal marks the real estate investment advisory and brokerage firm’s first collective sale transaction.

Michelle Yong, CEO of Aurum Land, says the acquisition will broaden the company’s scope into the landed property sector. “On a personal level, I plan to design my own family home within this bespoke collection of luxury houses and am excited to extend the same opportunity to deliver bespoke design services to meet the lifestyle needs of our discerning buyers,” she adds.

JCube Residence is set to be a prominent residential development located within the Jurong Lake District. With J-Walk providing excellent connectivity to key transport hubs such as the Jurong East MRT interchange, Westgate, IMM Building and the upcoming Jurong East Integrated Transport Hub, residents of JCube Residence will be able to benefit from the array of amenities such as a bus interchange, public library, community club and sports centre. The development is expected to be officially be rolled out in the second half of 2023 and its pricing details and size of the units will be revealed at a later date.

In land-scarce Singapore, Steven Ming, managing partner at Sakal Real Estate Partners, notes that ownership of landed homes as a significant store of wealth presents significant capital upside over time. The acquisition of Kew Lodge is Aurum Land’s third project, being the developer behind The Hyde on Balmoral Road in District 10 and Nyon on Amber Road in District 15.

The collective sale tender for Kew Lodge closed on May 23, with Aurum Land’s bid representing a 5% premium over the site’s guide price of $63.8 million, which works out to a land price of approximately $1,940 psf.

“A landed home purchase today can be a strategic investment for future generations,” says Ming. He also co-founded Sakal Real Estate Partners in 2018 and henceforth has been exploring different avenues to create wealth for their clients. Rajah and Tann are the appointed legal representatives for the owners.