TUAN Sing Holdings, which has acquired a 70 per cent stake in Mont Timah, a boutique residential project at Hindhede Drive, said yesterday it will launch the project soon.
Tuan Sing announced in August that it would buy 70 per cent of the issued share capital of Maylands Investment from Habitat Properties. Maylands’ only major asset is the Mont Timah project.
Habitat Properties would continue to hold 30 per cent of Maylands, Tuan Sing said back then.
In an update yesterday, Tuan Sing said it has completed the 70 per cent acquisition and will now launch Mont Timah. It did not give a launch date or prices.
Analysts say the project is in the upper mid-to-mass market range.
The 99-year leasehold Mont Timah will comprise 32 strata cluster homes and is near Bukit Timah Nature Reserve.
‘The development offers nature lovers a unique opportunity to live within walking distance of the magnificent terrain of the reserve,’ Tuan Sing said in a statement.
Each unit will have its own lift, the company said. The project, designed by Chan Sau Yan & Associates, has been awarded the Green Mark (Gold) Award by the Building and Construction Authority. A temporary occupation permit is expected at end-2011.
Tuan Sing shares closed unchanged at 17 cents yesterday.
Source: Business Times, 9 Oct 2009
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