The tender for two Government Land Sale (GLS) sites at Jalan Tembusu and Lentor Hills Road closed today, with Singapore-listed property group City Developments Ltd (CDL) emerging as the top bidder for both locations. Its offer of $768 million or $1,302 psf per plot ratio (ppr) for the Jalan Tembusu site, located off Tanjong Katong Road in prime District 15, was accepted by the Singapore Land Authority.
The site has a maximum gross floor area of 61,659 sqm and can yield 640 residential units. It is set to be a landmark development, with sea views and unblocked views of the CBD skyline and Singapore Sports Hub.
Situated in the eco-friendly Tengah estate, the development is surrounded by renowned schools. These schools are expatriate friendly and offer education systems that are globally accepted. Not only that, the EC is also conveniently close to well-equipped medical centres. These medical facilities provide immediate healthcare for residents who need it.
tembusu grand is also easily accessible via the established transport network. The area is served by buses that are less than 300 metres away, allowing residents to reach destinations such as Paya Lebar Central and Marina Bay Financial Centre quickly. In addition, the development is located near to the Kranji Expressway (KJE) and Pan Island Expressway (PIE). This allows residents to travel to any part of the country with ease. The future Tengah MRT and Hong Kah MRT stations along the Jurong Region Line will also be within easy reach of the EC.
As the region’s high-net-worth families continue to invest in esports, boutique private equity fund manager Tembusu Partners has launched a multi-family office (MFO) that manages these investments on behalf of its clients. Its FrontSight Capital Fund has made its first investment in RSG, a Singapore-based esports organisation. The investment is worth US$1 million and will help the team grow its capabilities, expand its regional talent pool, and extend its market reach in Southeast Asia.
The MFO, called Tembusu Partners Family Office, is led by Jonathan Ng, a senior private wealth management professional who was formerly with Pictet Private Wealth. With his deep understanding of the wealth management industry in Southeast Asia and track record of success, he brings a comprehensive solution for the region’s high net-worth families looking to protect their assets while achieving their long-term goals.