The main activities of our Property division centre on investment and prime property developments. Spearheaded by two of our subsidiaries, Lian Beng Realty Pte Ltd
and Rocca Investments Pte Ltd
, the division has made forays into the residential and commercial properties in Singapore.
In June 2007, the Group, through a consortium formed with 3 other business partners, announced the award of a prime Lincoln Lodge site at 1/3 Khiang Guan Avenue, off Newton Road, in District 11 for a total consideration of S$243 million through an enbloc sale. In additional, the Group also acquired a cluster of eight freehold semi-detached houses along Mountbatten Road for S$42 million, by way of a private treaty arrangement.
Subsequently, the Group entered into two strategic partnerships with LaSalle Investment Management Pte Ltd ("LaSalle") and Duke Development Pte Ltd ("Duke") respectively. The Group holds a 10% equity stake in the joint venture with LaSalle for the proposed re-development of private condominium off Upper Bukit Timah Road and is appointed as its main building contractor at a contract sum of $46.5 million. In the partnership with Duke, we will hold a 19% equity stake in the development of a proposed condominium in Kovan and will also be building the condominium at a contract sum worth $200 million.
These transactions are yet another step by Lian Beng Group to further our advancement in the property development business, which is synergistic with our existing core business.
Prior to this new development, the Group has successfully launched several private residential projects and a residential cum commercial mix project. In addition to the sales of these properties, the Group also has several residential and commercial properties available for rental.
To find out more information on our properties available for sales or rental, please feel free to drop us an email
or call us