Kajima leverages rich history, multi-disciplinary expertise

The Japanese firm is developing its first billion-dollar integrated development in Singapore. It is bringing its 179-year history to bear with its track record in building high-speed rail lines, suspension bridges, tunnels and integrated developments in Japan and elsewhere.
Kajima Corp has made a third attempt to crack the Singapore residential property market, after two earlier attempts in the last residential property boom of 2006-2007. Both projects were luxury, freehold condos in prime Districts 9 and 10. The first foray was the 40-unit, boutique, high-end development Sui Generis on Balmoral Road in District 10. Singaporean tycoon Peter Lim purchased 20 units en bloc in Sui Generis for $95 million ($1,934 psf) when it was completed in 2010.
The second development was the 31-unit Bishopsgate Residences located at 1 Bishopsgate. Completed in 2012, the ultra-luxury development contains a mix of three- to five-bedroom apartments, penthouses and triplexes with sizes ranging from 2,433 to 6,841 sq ft. Units in the development have been sold at prices ranging from $3,174 to $3,913 psf. The latest transaction at Bishopsgate Residences was for a 2,949 sq ft, four-bedroom unit on the first level that was sold early this month for $9.5 million ($3,221 psf).
Artist's impression of the upcoming Woodleigh Residences, integrated with The Woodleigh Mall and co-located with the Woodleigh MRT Station, bus interchange and community club with childcare centre (Pictures: Kajima Corp)
Billion-dollar integrated development in Singapore
This third time, it has chosen Singapore Press Holdings (SPH) as its partner in a 50:50 joint venture and a mixed-use development in an upcoming housing estate – once upon a time a cemetery.
It was the first government land sale (GLS) plot offered for an integrated development in the new Bidadari Estate. Kajima and SPH paid $1.13 billion ($1,181 psf per plot ratio) for it in June 2017.
The joint-venture partners broke ground on the upcoming integrated development in March 2018. It includes a 667-unit condo, namely The Woodleigh Residences; as well as a shopping mall, The Woodleigh Mall, with 301,392 sq ft of commercial and retail space.
The Woodleigh Residences site is very unique,” says Keisuke Koshijima, executive vice president of Kajima Corporation. “Not only is it an integrated development site, it is also close to both the city centre and...