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Kuala Lumpur 18 December 2007 - GuocoLand Limited (GuocoLand) is pleased to announce that its wholly-owned subsidiary, Goodwood Residence Development Pte. Ltd. (GRD) has today sold the whole of Phase 1 comprising 97 out of 210 luxurious units in Goodwood Residence to a fund company to be managed by Kuwait Finance House (Malaysia) Berhad (KFHMB). The 97 apartments are of the four-bedroom type with sizes ranging from 2,500 square feet to 3,900 square feet. The total sale consideration is approximately S$818.4 million.
Goodwood Residence, one of the most exclusive green addresses in Singapore, is a luxurious development situated in the vicinity of the prime Orchard Road area of Singapore. This freehold development sits on a 24,845 square metre estate in the quiet green surrounds of Goodwood Hill and is easily accessible to Singapore's main shopping belt of Orchard Road. The 210 apartments are comprised in two 12-storey blocks with every apartment designed to enjoy a view of the lush Goodwood Hill, which shares a boundary of approximately 150 metres with Goodwood Residence. Residents will therefore live near almost 20 hectares of greenery - yet within minutes of the heart of urbanised Singapore.
Goodwood Residence was conferred the Green Mark Award (Platinum) by the Building and Construction Authority (BCA) in September 2007 in recognition of its green features. This award is the highest honour for a green building in Singapore. It is one of only two Green Mark Awards (Platinum) given by the BCA for residential projects since the launch of this award scheme in 2005.
Underlining its commitment to building quality prestigious developments, GRD engaged award-winning consultants, WOHA Architects Pte Ltd and landscape specialist ICN Design International Pte Ltd for Goodwood Residence. Almost 80% of the grounds in the estate have been reserved for landscaping and facilities. A sprawling lawn, measuring about 60 metres by 30 metres, separates the two blocks, giving residents a green lung and cherished privacy. Building on its green surrounds, Goodwood Residence will have more than 500 trees, (including 58 preserved trees) planted in the estate. Goodwood Hill, an exclusive enclave with elegant black and white colonial bungalows next to the Goodwood Residence, boasts a rich heritage within the tree conservation area. Some of the rainforest trees are more than 200 years old.
Dato' K Salman Younis, Managing Director of Kuwait Finance House (Malaysia) Berhad, said that, "The charm of Goodwood Residence lies not only in its setting a new benchmark for luxurious residential living in Singapore but also its unique location next to 20 hectares of green reserve at Goodwood Hill. While only minutes away from the liveliness of the Central Business District, including, Orchard Road, it will provide a green address for residents. This is a testament to the excellent endeavours by the Government of Singapore and GuocoLand to provide international standards of living in an environmentally friendly space."
Mr Quek Chee Hoon, Group President and Chief Executive Officer of GuocoLand, said: "We are delighted that Kuwait Finance House, a global financial institution, has selected Goodwood Residence to be part of its real estate portfolio in Asia. This attests to the high investment potential of Goodwood Residence, which is in a prime district within walking distance to the Newton MRT station and in the vicinity of elite schools. Goodwood Residence will usher in new benchmarks in sophisticated luxury, demonstrating GuocoLand's commitment to building prestigious quality developments."
"GuocoLand has in the pipeline other prestigious residential developments in the prime districts which will be distinguishable in quality and design. These will be built on the sites of the existing Sophia Court and Leedon Heights, which were en bloc acquisitions completed recently," he said.
Goodwood Residence, one of the most exclusive green addresses in Singapore, is a luxurious development situated in the vicinity of the prime Orchard Road area of Singapore. This freehold development sits on a 24,845 square metre estate in the quiet green surrounds of Goodwood Hill and is easily accessible to Singapore's main shopping belt of Orchard Road. The 210 apartments are comprised in two 12-storey blocks with every apartment designed to enjoy a view of the lush Goodwood Hill, which shares a boundary of approximately 150 metres with Goodwood Residence. Residents will therefore live near almost 20 hectares of greenery - yet within minutes of the heart of urbanised Singapore.
Goodwood Residence was conferred the Green Mark Award (Platinum) by the Building and Construction Authority (BCA) in September 2007 in recognition of its green features. This award is the highest honour for a green building in Singapore. It is one of only two Green Mark Awards (Platinum) given by the BCA for residential projects since the launch of this award scheme in 2005.
Underlining its commitment to building quality prestigious developments, GRD engaged award-winning consultants, WOHA Architects Pte Ltd and landscape specialist ICN Design International Pte Ltd for Goodwood Residence. Almost 80% of the grounds in the estate have been reserved for landscaping and facilities. A sprawling lawn, measuring about 60 metres by 30 metres, separates the two blocks, giving residents a green lung and cherished privacy. Building on its green surrounds, Goodwood Residence will have more than 500 trees, (including 58 preserved trees) planted in the estate. Goodwood Hill, an exclusive enclave with elegant black and white colonial bungalows next to the Goodwood Residence, boasts a rich heritage within the tree conservation area. Some of the rainforest trees are more than 200 years old.
Dato' K Salman Younis, Managing Director of Kuwait Finance House (Malaysia) Berhad, said that, "The charm of Goodwood Residence lies not only in its setting a new benchmark for luxurious residential living in Singapore but also its unique location next to 20 hectares of green reserve at Goodwood Hill. While only minutes away from the liveliness of the Central Business District, including, Orchard Road, it will provide a green address for residents. This is a testament to the excellent endeavours by the Government of Singapore and GuocoLand to provide international standards of living in an environmentally friendly space."
Mr Quek Chee Hoon, Group President and Chief Executive Officer of GuocoLand, said: "We are delighted that Kuwait Finance House, a global financial institution, has selected Goodwood Residence to be part of its real estate portfolio in Asia. This attests to the high investment potential of Goodwood Residence, which is in a prime district within walking distance to the Newton MRT station and in the vicinity of elite schools. Goodwood Residence will usher in new benchmarks in sophisticated luxury, demonstrating GuocoLand's commitment to building prestigious quality developments."
"GuocoLand has in the pipeline other prestigious residential developments in the prime districts which will be distinguishable in quality and design. These will be built on the sites of the existing Sophia Court and Leedon Heights, which were en bloc acquisitions completed recently," he said.
