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Singapore eDevelopment sells 13-acre land parcel for $7.5 mil

Michelle Zhu Published on Thu, Nov 24, 2016 / 9:16 AM GMT+8

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SINGAPORE (Nov 24): Property developer and technology firm Singapore eDevelopment says its subsidiary has sold a 13-acre Ballenger Run land parcel to US regional homebuilder, Orchard Development Corporation (ODC), for US$5.25 million ($7.5 million).

The sale transaction is scheduled to close by end FY18.

In a Thursday statement, the group says ODC has placed US$250,000 in non-refundable deposits after completing its feasibility study period on the property.