Newly completed bungalows at Holland Grove Lane for under $12 mil each

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SINGAPORE (EDGEPROP) - Centra Group of Companies, co-founded by brothers Melvin and Jason Poh, has sold over $100 million worth of houses over the past two years. The pair of detached houses at Holland Grove Lane are part of a pipeline of 10 landed properties in their portfolio with gross development value of close to $100 million.

Two bungalows at Holland Grove Lane developed by Centra Group of Companies are on the market for just under $12 million each (Photo: Albert Chua/EdgeProp Singapore)
Twelve years ago, Melvin Poh gained fame as the founder of Fission Group and developer of Alexis on Alexandra Road, which was developed in a joint venture with Yi Kai Group. The project fuelled a wave of shoebox apartment projects when all 293 units at Alexis were snapped up within three days of its launch in 2009.
He also co-founded Centra Group of Companies with his brother, Jason Poh, who joined as a director of the company in late 2014. The niche developer had started by developing several boutique apartment and condominium blocks, such as Centra Loft, Centra Suites and Centra Residences, which are located in the city-fringe neighbourhoods of Geylang and Ang Mo Kio, and completed in the 2013 to 2015 period.
Jason Poh (pictured) and his brother Melvin Poh co-founded Central Group of Companies as a niche property developer in 2014 (Photo: Albert Chua/EdgeProp Singapore)

Shift to landed property

Owing to the successive rounds of property cooling measures, Centra Group has shifted its focus to landed property over the past two years. These are predominantly freehold, semi-detached or bungalow developments in prime Districts 9, 10 and 11.
The projects included a pair of Good Class Bungalows (GCBs) on Belmont Road, one of which was sold for $33.8 million ($2,243 psf) in August last year; a...