Royal Group plans long-stay serviced apartment project in Claymore Road
The development, costing about S$185 million to S$190 million, will yield about 100 apartments
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[SINGAPORE] Royal Group of Companies is planning to develop a long-stay serviced apartment project with about 100 units in Claymore Road.
Bobby Hiranandani, the group’s co-chairman, estimated the all-in cost for the project at S$185 million to S$190 million.
The figure includes the S$75 million the group paid for the 17,974 square foot (sq ft) freehold site at 11 Claymore Road last year, a land betterment charge of S$35.2 million, construction and fit-out costs, professional fees, buyer’s stamp duty and interest expense.
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