According to GuocoLand in its filing to the stock exchange, it owns a 50% stake in this venture. TIDR and Intrepid hold 40% and 10% respectively.
The 99-year, 25,795.4 sqm site can be used to build around 400 residential units. The site is within walking distance to the upcoming Jurong Town Hall MRT station on the Jurong Region Line, just one stop from the Jurong East MRT interchange station.
GuocoLand notes that the site is near schools such as Nan Hua Primary School, Nan Hua High School, NUS High School of Math & Science, the National University of Singapore, as well as several international schools.
The site is also close to a host of amenities and nature parks, including the upcoming Old Jurong Line Nature Trail, which is part of an 18km green recreational network within the new Clementi Nature Corridor.
See also: Frasers Property in real estate JV with Morgan Stanley
GuocoLand shares closed at $1.46 on Nov 26, up 0.69% for the day but down 0.68% year to date.
