Sunway MCL bids $581M for Singapore site

Malaysian billionaire Jeffrey Cheah's Sunway MCL and its partner China’s CSC Land Group placed the highest bid of S$751 million ($581 million) for a prime residential site near Orchard Road in Singapore. The 99-year leasehold plot, covering nearly 124,000 square feet, is located in the River Valley area and is the last parcel available for auction in the neighborhood. If awarded, the partners plan to develop over 500 premium residential units in two towers, with strong sales in nearby projects indicating high market demand.

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