Developer
Primest Land V1 Pte Ltd is a consortium that includes Singapore-listed firm Ever Glory United Holdings and other investorshttps://www.edgeprop.sg/property-news/freehold-residential-site-lorong-32-geylang-sold-1225-mil. This consortium recently acquired a freehold residential site at 27 Lorong 32 Geylang in District 14, Singapore, for $12.25 million. The site, which spans 6,835 sq ft with a plot ratio of 2.8, is set to be redeveloped into a boutique eight-storey condominium featuring 20 apartments.
The joint venture structure of Primest Land V1 involves Ever Glory United Holdings holding a 50% stake, while Ever Capital and Sunlit Venture Capital each hold 25% stakes. The project aims to meet the growing demand for residential units and enhance the urban fabric of District 14.
AFL Development, led by Fanny Cheng, has been appointed as the developer and project manager for this site. AFL Development has a track record of successful projects, including the boutique residential development Enchante on Evelyn Road.
This acquisition highlights the strategic approach of developers and investors in Singapore's robust property market, focusing on well-located sites with high development potential
