Singapore OKs IOI's $317M Bid For Condo Project

Law360, New York (January 17, 2012, 4:13 PM EST) -- The Singaporean government on Monday approved a 408 million Singapore dollar ($317 million) bid from a subsidiary of Malaysian palm oil producer IOI Group for 6.03 acres of land earmarked for a residential development project.

Property investor and developer Multi Wealth (Singapore) Pte Ltd. has won a 99-year lease of a land parcel located in the Clementi district through an online auction and will build a 685-unit condominium project on the site, according to Singapore's Housing and Development Board.

The bid price and project, dubbed Jalan...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.