Singapore Press Holdings' diversification into real estate has taken a step further with the unveiling of a mixed development with Japanese developer Kajima Development.
With the Woodleigh Residences and Woodleigh Mall, the partners plan to bring together Japanese craftsmanship and Singaporean retail expertise. The integrated development will have direct access to Woodleigh MRT station and an air-conditioned basement bus interchange.
Chairman of Singapore Press Holdings Lee Boon Yang says the diversification into property is an important element in SPH's strategy to seek out new opportunities to add to its core media business. "I believe that our good track record and Kajima's strong development and construction capabilities, as well as the site's inherent potential, will come together to contribute to the success of this project," he says.
Kajima and SPH will work with the People's Association and Singapore Police Force to build a 6000 square metre community club and a 2200 m2 neighbourhood Police Centre. The site is at the junction of Upper Serangoon and Upper Aljunied Road, and a key part of the Bidadari Estate master plan.
The development includes more than 600 premium residences overlooking Alkaff Lake and Bidadari heritage walk, and a retail/commercial component with close to 28,000 m2 gross floor area.
Pictured: An artist's impression of the development, from Alkaff Lake