Roxy-Pacific associate buys prime residential sites on Moulmein Rise for $106 mil

/ EdgeProp |
Join our  Telegram  channel and follow our  Facebook  for the latest update.
RH Novena Pte Ltd, an indirect associated company of Singapore-listed property developer Roxy-Pacific, has acquired two adjacent freehold sites on Moulmein Rise for $106 million. The deal was handled by Sakal Real Estate Partners. The two sites in prime District 11 were put up for sale in March for $110 million ($1,525 psf per plot ratio).
Located on 27 Moulmein Rise, at the junction of Moulmein Rise and Sinaran Drive, the sites have a combined area of 22,198 sq ft. They can be redeveloped into a 20-storey residential development with a maximum gross floor area of 72,003 sq ft. They are adjacent to the upcoming Health City Novena, a 17-hectare integrated masterplan area comprising health services, research, education, commercial, leisure and public spaces. It is expected to be completed by 2030.
The two adjacent freehold sites on Moulmein Rise were acquired for $106 million (Picture: Sakal Real Estate Partners)
The sites’ proximity to the Novena MRT Station, a plethora of nearby retail & F&B offerings, and the progressive completion of the Health City Novena “will continue to underpin both investor and occupier demand for high quality residences in this area for a long time to come”, says Steven Ming, managing director at Sakal.
Roxy-Pacific launched its newest residential development, Harbour View Gardens, on April 1. To date, more than 52 (91%) out of 57 units launched for sale have been snapped up at an average psf price of about $1,757.

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More