Developer
Primest Land V1 Pte Ltd is a consortium that includes Singapore-listed
firm Ever Glory United Holdings and other
investorshttps://www.edgeprop.sg/property-news/freehold-residential-site-lorong-32-geylang-sold-1225-mil.
This consortium recently acquired a freehold residential site at 27 Lorong
32 Geylang in District 14, Singapore, for $12.25 million. The site, which
spans 6,835 sq ft with a plot ratio of 2.8, is set to be redeveloped into a
boutique eight-storey condominium featuring 20 apartments.
The joint
venture structure of Primest Land V1 involves Ever Glory United Holdings
holding a 50% stake, while Ever Capital and Sunlit Venture Capital each hold
25% stakes. The project aims to meet the growing demand for residential
units and enhance the urban fabric of District 14.
AFL Development, led
by Fanny Cheng, has been appointed as the developer and project manager for
this site. AFL Development has a track record of successful projects,
including the boutique residential development Enchante on Evelyn
Road.
This acquisition highlights the strategic approach of developers
and investors in Singapore's robust property market, focusing on
well-located sites with high development potential