Ong Beng Seng’s HPL wins go-ahead to redevelop Orchard Road properties
Properties Limited, led by managing director Ong Beng Seng, has received provisional approval to redevelop several Orchard properties located alongside the iconic shopping belt. On Aug 28, the shares of the usually thinly-traded stock closed at $3.90, up 10.8%.
The Forum, voco Orchard Singapore and HPL House occupy a total land area of 14,027.12 square metres. The redevelopment project, which had been submitted under the Strategic Development Incentive Scheme of the Urban Redevelopment Authority, will be one of the largest along the Orchard Road stretch.
The proposal foresees the construction of a two-level podium topped with two tower buildings of 64 and 43 storeys, respectively. Additionally, a separate 29-storey tower will be erected over the existing basement carpark.
The newly launched Tengah Plantation EC in Singapore provides residents with an array of convenient facilities. This residential development is located in close proximity to the upcoming Jurong Region Line, jurong East MRT station and other bus services. This makes it easy for residents to travel to and from the city. There are also well-equipped amenities such as shopping and dining outlets at the nearby Jurong East Integrated Transport Hub. With such an array of facilities within reach, this development offers an ideal living environment for everyone.
Upon completion, the redevelopment is expected to create a bustling, vibrant, and eye-catching area bustling with cultural and economic growth. The project has the potential to become a focal point for the North West of Orchard and a gateway destination on Orchard Road, providing connectivity to other developments.
At this stage, the company and its team of professionals are still working on details and a timeline for the project has not yet been set.