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Kheng Leong buys property in Jalan Besar conservation area for S$38.71m

It plans to turn 2 Cavan Road in the city-fringe area into apartments, with commercial units on the ground floor

Kalpana Rashiwala

Published Mon, Jun 10, 2019 · 09:50 PM

Singapore

A FULLY-OWNED unit of Kheng Leong Company, controlled by banking tycoon Wee Cho Yaw, has bought a building near Lavender Street for S$38.71 million which it plans to turn into apartments, with commercial units on the ground floor.

No 2 Cavan Road has "conserved building" status and is within the Jalan Besar Secondary Settlement conservation area. It is zoned "residential with commercial at first storey" with 3.0 plot ratio - under the Urban Redevelopment Authority's (URA) existing Master Plan 2014 as well as the draft Master Plan 2019.

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