Wee Hur and Sing Holdings in JV to develop Fernvale Rd condo project after winning tender

SINGAPORE (Sept 30): Wee Hur and Sing Holdings are jointly developing a condominium with gross floor area of about 51,588 sqm at Fernvale Road.

The move comes as their wholly-owned subsidiaries Wee Hur Development and Sing Development were awarded the tender of a land parcel at the location by the Urban Redevelopment Authority, at a tender price of $287.1 million.

The two subsidiaries will form a joint venture company to undertake the project. Wee Hur Development will hold a 30% stake in the JV Co. while Sing Development will hold the remaining 70% stake.

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