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RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Two adjacent Moulmein Rise sites sold for $106m

They can be redeveloped into a 20-storey residential apartment.

Two adjacent freehold residential sites on Moulmein Rise were sold for $106m to RH Novena, Sakal Real Estate Partners revealed.

According to an announcement, the 2,062.3-sqm prime residential development sites sit at the corner of Moulmein Rise and Sinaran Drive. The combined site can be redeveloped into a 20- storey residential apartment with a maximum gross floor area of 72,003 sqft.

The sites are located within the prime district 11 and within a 3 minutes stroll to the Novena MRT Station as well as minutes’ walk to more than 500,000 sqft of retail and F&B across Velocity Novena Square, Square 2 and United Square.

The sites are also close to the PIE and CTE and a 20-minute drive to Singapore Changi Airport.

Sakal managing director Steven Ming commented, “This is a prized location. The sites’ proximity to Novena MRT station, plethora of retail & F&B offerings located nearby and the progressive completion of the Health City Novena will continue to underpin both investor and occupier demand for high quality residences in this area for a long time to come.” 

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