Lum Chang unveils plan for One Tree Hill; FY17 profit falls

Singapore

PROPERTY and construction group Lum Chang Holdings, which posted a 37 per cent drop in group net profit for the year ended June 30 to S$18.7 million, plans to redevelop the One Tree Hill Garden site into 12 freehold conventional semi-detached houses and two bungalows that will be launched for sale next year. "Hopefully construction can start in the second half of next year," Lum Chang executive director Tony Fong said.

The company's property director Peter Ow said: "Given the site's sloping terrain, we plan to develop two-storey houses with a basement for most of the units."