www.shaproperty.com

SINGAPORE : Frasers Centrepoint is teaming with Far East Organisation to acquire the Waterfront View property along Bedok Reservoir Road.

The partners are paying S$385 million for the 809,000 square foot site.

This works out to $241 per square foot per plot ratio, including development levies.

The site has a plot ratio of 2.5.

It can be developed into between 1,400 and 1,600 high rise apartments of between 1,300 square feet and 1,500 square feet.

Waterfront View is a privatised HUDC apartment and maisonette development.

82 percent of the owners have agreed to the collective sale to Frasers Centrepoint and Far East.

- CNA /ls