Two sites near Novena MRT sold for $106 million

Romesh Navaratnarajah31 May 2018

27 moulmein-PR crop

The sites have a total area of about 22,198 sq ft and could be redeveloped into a 20-storey apartment. (Photo: Sakal Real Estate Partners)

RH Novena, an indirect associated company of property developer Roxy Pacific Holdings, has purchased two adjacent freehold residential sites at 27 Moulmein Rise for $106 million.

Nestled at the corner of Sinaran Drive and Moulmein Rise, the sites have a combined area of about 22,198 sq ft. Sakal Real Estate Partners, which handled the sale, noted that they can be redeveloped into a 20-storey residential apartment with a maximum gross floor area of 72,003 sq ft.

More: Developers’ En Bloc Appetite Diminishing: RHB

The prime District 11 sites are located near Novena MRT station, adjacent to the upcoming Health City Novena – a 17ha integrated masterplan comprising health services, education, research, leisure, commercial and public spaces that is slated for completion by 2030.

“This is a prized location. The sites’ proximity to Novena MRT station, plethora of retail & F&B offerings located nearby and the progressive completion of the Health City Novena will continue to underpin both investor and occupier demand for high quality residences in this area for a long time to come,” said Sakal managing director Steven Ming.

Roxy Pacific does not expect the acquisition, which will be funded by bank borrowings and internal funds, to materially affect the group’s consolidated earnings and net tangible assets per share for the current financial year ending 31 December.

Learn more about the Novena/Newton area and search for properties to buy or rent.


Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email


You may also like these articles

Leonie Gardens in District 9 up for sale at $800m

Leonie Gardens is located close to the Orchard and Somerset MRT stations, as well as the upcoming Great World station in River Valley Road.Leonie Gardens, a 138-unit condominium in prime District 9, w

Continue Reading28 May 2018

Historic mansion up for sale at indicative price of $93m

The House of Tan Yeok Nee in District 9 is located close to the Dhoby Ghaut MRT interchange. (Photo: Cushman & Wakefield)The House of Tan Yeok Nee, a gazetted national monument at 101 Penang Road,

Continue Reading28 May 2018

St Thomas Walk property up for sale at $68m

The freehold residential site is located close to Somerset MRT station and the Orchard Road shopping belt.A freehold residential redevelopment site along St Thomas Walk in prime District 9 has been pu

Continue Reading30 May 2018