The $57 million acquisition of Fairhaven was announced on March 23 by JLL, a day after the close of the tender. Located in prime District 9, Fairhaven sits on a 16,660 sq ft, freehold site zoned residential, with a plot ratio of 2.1. Given the high development baseline, the site could potentially be built up to a gross floor area of 34,986 sq ft and the developer would not incur a development charge, according to the property consultant.