Company Briefs: Yanlord Land Group, ​Sim Lian Group

Yanlord Land Group

Developer Yanlord Land Group announced that its unit Nanjing Renyuan Investment has a new cooperative agreement with a subsidiary of Ping An, Shenzhen Lianxin Investment Management.

Yanlord has acquired a 30 per cent stake in the company, which has a prime residential site of about 295,000 sq m in Suzhou city's Gusu district.

The site was bought through a public land auction for about four billion yuan (S$806 million).

It is within Suzhou's city's administrative district and is adjacent to upcoming stations of the city's metro line.

Sim Lian Group

Mainboard-listed Sim Lian Group announced yesterday that condominium Treasure Crest in Sengkang has been more than 2.1 times subscribed, and the average price is $742 per square foot (psf).

Prices start from $649,000, or $677 psf, for a three-bedroom unit.

Balloting and booking will take place at the 504-unit Treasure Crest sales gallery at Anchorvale Crescent on Saturday.

Successful e-applicants have to drop their ballot tickets at the sales gallery from 10am to 11am to get a position in the queue to book a unit.

Members of the public without e-applications may book a unit from 4pm onwards, said the firm, on a first-come-first-serve basis.

A "second-timer quota" of 30 per cent for the units applies and will be lifted on Aug 16.

The project is more than 113 per cent oversubscribed, with 1,077 e-applications within a 10-day e-application period that ended on Sunday.

The 99-year leasehold condominium is expected to get its temporary occupation permit by 2019.

It has 84 three-bedroom units, 364 three-bedroom premium units and 56 four-bedroom units - across eight residential blocks of 15 storeys each. Units range from 958 to 1,345 sq ft.

Treasure Crest is the second executive condominium launched by Sim Lian this year, after Wandervale in February.

Wandervale, in Choa Chu Kang Ave 3, has reported that 75 per cent of units have been sold.

A version of this article appeared in the print edition of The Straits Times on July 14, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe