# Bukit Sembawang looks to buy Kallang Distripark land for new waterfront homes and park at $196.04 mil - **Source:** EdgeProp Singapore - **Published:** 2026-10-17T02:55:34.000Z - **Author:** Fiona Lam - **Original:** https://www.edgeprop.sg/property-news/bukit-sembawang-looks-buy-kallang-distripark-land-new-waterfront-homes-and-park-19604-mil - **Topics:** Private Residential, Transactions & Deals ## Featured rationale The estimated $1.01 billion total land commitment signals developer confidence in city-fringe waterfront housing and could add substantial private supply to Kallang. ## AI summary Bukit Sembawang proposes acquiring 5.1ha of Kallang Distripark for $196.04 million to develop 600–800 leasehold homes, commercial space and waterfront amenities. ## Original article Property developer Bukit Sembawang Estates Ltd is proposing to acquire a 5.1ha portion of the 13ha Kallang Distripark site for around $196.04 million, under a conditional put-and-call agreement. It plans to develop a non-landed, leasehold private residential development with commercial space on the first storey, as well as a 2ha public park, 15m-wide waterfront promenade, and new roads, the Singapore-listed developer said in a bourse filing on the evening of Oct 16. Bounded by the Kallang River and Pelton Canal, the site Bukit Sembawang is looking to purchase measures roughly 51,000 sq m (about 548,959 sq ft) and includes a 24,905 sq m (268,075 sq ft) housing plot that has about 41 years left on its 99-year lease, expiring in 2067. Read also: Leasehold redevelopment site in Jalan Merbok for sale; potential for senior living use The total land cost for the project is expected to be around $1.01 billion, comprising the purchase price of $196.04 million, the specified land betterment charges, and the lease upgrade premium for a fresh 99-year lease. The condo project, with commercial first-storey use, will have a permissible gross floor area of about 74,707 sq m (804,139 sq ft) with a gross plot ratio of 3.0, subject to approvals from the authorities. In August, analysts estimated that this plot could yield about 600 to 800 condo units, The Straits Times (ST) reported then. Bukit Sembawang said in its Oct 16 bourse filing that the proposed transaction will "strengthen and diversify its property development portfolio, complementing its established landed residential developments with a sizeable non-landed residential project". Its major landed projects have included Luxus Hills, which recently released its latest Phase 10 of terraced homes, Seletar Hills Estate, and Sembawang Hills Estate — totalling thousands of houses. The Kallang Distripark land is located in the city-fringe Kallang area, about 5km from the city centre, and is near the Geylang Bahru and Kallang MRT stations, as well as major expressways, which provides connectivity to CBD and other parts of Singapore. Read also: Valley Point and Fraser Suites Singapore to be redeveloped into luxury mixed-use riverfront project The proposed public park and waterfront promenade are also expected to enhance the overall living environment and appeal of the development, Bukit Sembawang added. As a condition of the land acquisition, the developer will design, construct, complete and maintain works relating to the public park, waterfront promenade and road infrastructures. It will also demolish certain warehouses, buildings and/or structures. Lee group of companies Bukit Sembawang’s subsidiaries have entered into a conditional put and call option agreement with the seller, Tropical Warehousing Co. The developer will seek its shareholders’ approval for the proposed transaction at an upcoming extraordinary general meeting (EGM). The seller is owned by members of the Lee group of companies — including Lee Rubber Company, Kallang Development, and Selat — built by entrepreneur and philanthropist Lee Kong Chian, who was popularly known as the "Rubber and Pineapple King". Some of these entities are substantial shareholders of Bukit Sembawang, through both direct and deemed interests, and will thus abstain from voting on the proposed acquisition at the EGM. Read also: Tourism board invites proposals to redevelop Emerald Hill site into hotel, lifestyle destination Lee Chien Shih, grandson of Lee Kong Chian, will likewise abstain from voting. He is non-executive director of the real estate developer, a member of its board's nominating, remuneration and project development committees, holds a 0.226% stake in Bukit Sembawang, and is also a director of Lee Rubber Company. The exercise of the call option by the buyer or the put option by the seller is subject to conditions precedent, including shareholder approval at the EGM and in-principle approval from the Singapore Land Authority to grant a fresh 99-year lease in exchange for the surrender of the existing head lease. Plans for Kallang Distripark URA proposed in August to amend its Master Plan to convert the entire privately-owned Kallang Distripark industrial and warehouse site into a new residential estate that could yield an estimated 2,250 to 2,550 condo units in total. That would involve carving up the 13ha site into three private housing plots, a 1.8ha reserve site, a new 2ha neighbourhood park, and to add roads for future residents and visitors to access the area. Besides the leasehold plot that Bukit Sembawang is looking to acquire, the other housing plots sit largely on freehold land and are meant solely for residential use, without a commercial component. ST noted that the larger site, along Kallang Bahru, measures about 3.6ha and could produce about 1,200 condo units. The other one abuts Pelton Canal and is about 1.6ha, potentially yielding 450 to 550 new homes. Kallang Distripark originally started as a rubber processing and manufacturing plant linked to the Lee Rubber Company. Over the decades, the industrial space transitioned into a warehouse area. It includes three octagonal structures, used as rubber warehouses, known as the Lee Rubber Godowns. URA in August said it had engaged the owner on potentially retaining one of those warehouses as a heritage marker within the proposed park, according to the agency's responses to ST. As early as 2003, URA had zoned the area for housing, and in 2017 highlighted the site in broader plans to transform the Kallang River corridor into a vibrant lifestyle and recreation precinct. Check out the latest listings for Kallang properties ## Chinese translation > Translation model: grok_cli ### Bukit Sembawang拟以1.9604亿新元购入Kallang Distripark地块，打造滨水新住宅及公园 分析师曾表示，这块租赁地块可建600至800个公寓单位。该项目总土地成本可能约为10.1亿新元。 房地产发展商Bukit Sembawang Estates Ltd拟根据一份附条件的认沽及认购期权协议，以约1.9604亿新元收购13公顷Kallang Distripark地块中的5.1公顷部分。 这家在新加坡上市的发展商于10月16日傍晚的交易所公告中表示，计划发展一个非有地、租赁期私人住宅项目，一楼设有商业空间，同时建设一个2公顷公共公园、15米宽的滨水长廊以及新道路。 Bukit Sembawang拟购入的地块毗邻加冷河与Pelton Canal，面积约51,000平方米（约548,959平方英尺），其中包括一块24,905平方米（268,075平方英尺）的住宅地块，该地块99年地契剩余租约约41年，将于2067年到期。 另读：Jalan Merbok一处租赁期重建地块待售；或可用于乐龄居住 该项目总土地成本预计约为10.1亿新元，包括1.9604亿新元的购地价、指定的土地改善费，以及换取全新99年地契的租约升级溢价。 该公寓项目一楼作商业用途，允许总楼面面积约74,707平方米（804,139平方英尺），总容积率为3.0，须获当局批准。 8月，分析师估计这块地可建约600至800个公寓单位，《海峡时报》（ST）当时报道。 Bukit Sembawang在10月16日的交易所公告中表示，拟议交易将“强化并多元化其房地产开发组合，以一个具规模的非有地住宅项目，补充其已有的有地住宅发展业务”。 其主要有地项目包括Luxus Hills（该项目近期推出最新的第10期排屋）、Seletar Hills Estate以及Sembawang Hills Estate，合计数千套住宅。 Kallang Distripark地块位于城市边缘的加冷地区，距离市中心约5公里，邻近芽笼峇鲁及加冷地铁站，以及多条主要高速公路，可连接中央商务区（CBD）及新加坡其他地区。 另读：Valley Point与Fraser Suites Singapore将重建为豪华综合用途河滨项目 Bukit Sembawang补充称，拟建的公共公园及滨水长廊预计也将提升该项目的整体居住环境与吸引力。 作为购地条件，发展商将设计、建造、完成并维护与公共公园、滨水长廊及道路基础设施相关的工程。公司还将拆除部分货仓、建筑物及/或构筑物。 李氏集团旗下公司 Bukit Sembawang的子公司已与卖方Tropical Warehousing Co.签订附条件的认沽及认购期权协议。 发展商将在即将举行的特别股东大会（EGM）上，就拟议交易寻求股东批准。 卖方由李氏集团旗下成员持有，包括Lee Rubber Company、Kallang Development及Selat。该集团由企业家兼慈善家李光前创立，李光前素有“橡胶与菠萝大王”之称。 其中部分实体通过直接及推定权益，为Bukit Sembawang的主要股东，因此将在特别股东大会上就拟议收购回避投票。 另读：旅游局邀请提案，将Emerald Hill地块重建为酒店及生活方式目的地 李光前之孙Lee Chien Shih同样将回避投票。 他是该房地产发展商的非执行董事，为董事会提名、薪酬及项目发展委员会成员，持有Bukit Sembawang 0.226%股权，同时也是Lee Rubber Company的董事。 买方行使认购期权或卖方行使认沽期权，须满足先决条件，包括特别股东大会上的股东批准，以及新加坡土地管理局原则上批准以交还现有主租约换取全新99年地契。 Kallang Distripark规划 市区重建局（URA）于8月提议修订总体规划，将整片私人持有的Kallang Distripark工业及货仓用地转为新住宅区，预计总共可建约2,250至2,550个公寓单位。 这将涉及把这片13公顷地块划分为三块私人住宅用地、一块1.8公顷预留地、一个新的2公顷邻里公园，并增设道路，方便未来居民及访客进出该区。 除Bukit Sembawang拟收购的租赁地块外，其余住宅地块大部分为永久地契，仅供住宅用途，不含商业部分。 《海峡时报》指出，沿加冷峇鲁的较大地块约3.6公顷，可建约1,200个公寓单位。另一块毗邻Pelton Canal，约1.6公顷，预计可建450至550套新住宅。 Kallang Distripark最初是与Lee Rubber Company相关的橡胶加工及制造厂。 数十年来，这片工业空间逐渐转变为货仓区。区内有三座八角形建筑，曾用作橡胶货仓，被称为Lee Rubber Godowns。 据市区重建局回复《海峡时报》的内容，该局在8月表示，已与业主接洽，探讨在拟建公园内保留其中一座货仓作为历史地标。 早在2003年，市区重建局已将该区划为住宅用途，并于2017年在更广泛的规划中突出该地块，拟将加冷河走廊打造为充满活力的生活与休闲区。 查看加冷地区最新房源