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Perennial enters joint venture to develop former Goodluck Garden site

Property

Perennial enters joint venture to develop former Goodluck Garden site

Stanislaus Jude Chan Published on Wed, Apr 04, 2018 / 5:43 PM GMT+8

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SINGAPORE (Apr 4): Perennial Real Estate Holdings has entered into a joint venture to develop the former Goodluck Garden freehold residential site along Toh Tuck Road in Singapore.

PRE 9, an indirectly wholly-owned subsidiary of Perennial, will hold a 40% stake in the JV, with Qingjian Group of Companies and its minority partners controlling the remaining 60%.

Qingjian Group comprises subsidiaries of Hong Kong-listed CNQC International Holdings, which acquired the 210-unit Goodluck Garden for $610 million in March.

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