SDB to buy National Aerated Water’s factory building, land in S’pore

Dedaun by Selangor Dredging Berhad

KUALA LUMPUR: Selangor Dredging Bhd’s (SDB) associate company Champsworth Development Pte Ltd is acquiring a 2,945.5 sq m freehold land with an existing two-storey industrial building in Singapore for S$47mil (RM146.5mil).

In a filing with Bursa Malaysia on Wednesday, the property developer said 50%-owned Champsworth, through its unit Tiara Land Pte Ltd, had made an offer for a sale by tender to owner National Aerated Water Co (Pte) Ltd to buy the property at Serangoon Road and the latter had accepted.

SDB said the property was sited amid an exclusive residential cluster of landed, mid and high-rise condominium developments with panoramic view of the Kallang River and city skyline and 600 metres away from the Potong Pasir MRT on the North-East line.

It noted that the property was in prime District 12 and situated in an established city fringe residential location that was connected with reputable primary schools and near shopping, dining and recreational amenities.

“In view of the strategic location of the property, SDB is optimistic on the prospects of the proposed development to be undertaken on the land,” it added, without giving any detail on its development plan.