Singapore's 2nd richest man Kwek Leng Beng's CDL to start previews for residential towers with units from $1.1M
City Developments Li, controlled by billionaire Kwek Leng Beng, is launching previews for its 570-unit apartment project in Singapore, with the smallest units priced at roughly S$1.5 million (US$1.18 million).
Singapore's second wealthiest individual, Kwek Leng Beng, is set to begin previews for his CDL-developed residential towers, Lucerne Grand, with units ranging from S$1.1 million. The two-bedroom units, measuring 624 square feet, begin at S$2,401 per square foot, while three-bedrooms start at nearly S$2 million for 883 square feet, and four-bedrooms are priced from S$2.8 million for 1,152 square feet.
The 570-unit project will open for previews on Friday and sales bookings commence on October 3. Lucerne Grand is part of a mixed-use development near Lakeside MRT station and consists of five 17-story residential towers on Lakeside Drive. Its ground floor will feature a supermarket, shops, and food and beverage outlets. The site, secured through a government land sale for S$608 million, is close to Jurong Lake District, Singapore's largest non-city center business district, as well as the Jurong Innovation District and Jurong Point Shopping Center.
CDL, chaired by Kwek Leng Beng, is one of Singapore's largest property developers, with a 230.7% year-on-year surge in net profit to S$301.6 million for the first half of this year.
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