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
Add BT as a preferred source
Kalpana Rashiwala
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.
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Surbana Jurong group CEO Sean Chiao to step down; search for successor under way
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
