Chinese developer pays $462m for Singapore development project

Logan Property Holdings Co. Ltd., a developer focused on residential property in China, has acquired a Singapore-based residential development project for S$629 million ($462.2 million). This marks the second project for Logan Property in Singapore.

The Florence Regency is well located at Hougang Avenue in the mature Serangoon/Hougang district. The 389,235-square-foot site can be developed to accommodate a 1,446-unit residential development with a gross floor area of 1.09 million square feet.

In May, Logan and Chinese developer Nanshan Group purchased a 227,215-square-foot site at Stirling Road under the Singapore Government Land Sales program.