Sunway JV wins tender at Tengah Plantation Close

KUALA LUMPUR: A joint tender between Sunway Bhd's subsidiary Sunway Developments Pte Ltd and Hoi Hup Realty Pte Ltd has won a S$348.5mil tender for a land parcel at Tengah Plantation Close in Singapore for a 99-year lease term executive condominium housing development.

In a filing with Bursa Malaysia, Sunway said its sub-subsidiary Sunway Developments will own a 35% stake in the joint venture company incorporated to undertake the development of the land, while Hoi Hup will hold the remaining 65%.

The proposed project is expected to be completed in 60 months or earlier, commencing from Sept 11, 2023.