# Ng family’s Far East group sells Watten Estate property for S$84.2 million to Aurum Land

- **Source:** The Business Times
- **Published:** 2026-09-11T05:09:52.000Z
- **Author:** Chong Xin Wei
- **Original:** https://www.businesstimes.com.sg/property/ng-familys-far-east-group-sells-watten-estate-property-s84-2-million-aurum-land
- **Topics:** Private Residential, Government & Policy, Transactions & Deals

## Featured rationale

Multiple offers and Aurum’s planned landed development signal developer confidence in prime Bukit Timah demand and could introduce new supply to the predominantly landed Watten Estate.

## AI summary

Far East Organization sold the freehold property at 134 Watten Estate Road to Aurum Land for S$84.2 million, equivalent to about S$2,266 psf.

## Original article

[SINGAPORE] Property giant Far East Organization has sold a freehold property in Watten Estate to boutique developer Aurum Land for S$84.2 million.

The site at 134 Watten Estate Road houses a three-storey walk-up apartment complex built by Lucky Realty Company, a subsidiary of Far East Organization, in the 1970s. The group has held the property since then, leasing the apartments out.

The sale to Aurum Land, for which a caveat was lodged on Aug 31, works out to about S$2,266 per square foot (psf) on a total site area of about 37,155 square feet (sq ft), comprising a plot of about 32,953 sq ft and an adjoining parcel of about 4,202 sq ft.

The deal was brokered by Realstar Premier Group. The property had been marketed for at least six months and drew several offers, with Aurum Land, the boutique property development arm of Woh Hup Group, ultimately emerging as the buyer.

The apartment complex sits on land zoned for mixed-landed housing. BT understands that Aurum plans a landed project on the site.

From January to August this year, some 11 freehold landed properties changed hands in the Watten area, according to the government’s Realis dabatase.

Transactions ranged from S$5.4 million (about S$1,100 psf) for a detached unit in a cluster landed project at Watten Residences to S$18 million for a semi-detached house on some 8,700 sq ft of land at Watten Estate Road, valuing the property at S$2,064 psf.

Located in the prime residential enclave of Bukit Timah, the site at 134 Watten Estate Road is part of the sprawling Watten Estate built up from the 1960s by the late Ng Teng Fong, whose family home, Ng’s Mansion, sits on one corner at the entrance to Watten Estate Road.

Spanning over two million sq ft, Watten Estate comprises mostly landed homes.

Far East Organization also built several apartment projects in the neighbourhood, including the 104-unit Watten Estate Condominium on a site at Shelford Road. It was sold in a collective sale to UOL Group for S$550.8 million in 2021.

UOL and subsidiary Singapore Land have since developed the site into Watten House, a 180-unit project which sold 57 per cent of its units at an average of about S$3,230 psf when the freehold project was first marketed in November 2023.

Far East Organization continues to hold properties in the Watten and Shelford area for rent.

Aurum Land, run by Michelle Yong whose father Yong Tiam Yoon helms construction conglomerate Woh Hup, has made several acquisitions in recent years.

In 2023, it bought the freehold Kew Lodge at 34 and 36 Kheam Hock Road for S$66.8 million. The 34,433-sq ft plot was redeveloped into eight landed homes, comprising semi-detached, detached and terraced houses.

Its residential portfolio also includes the 117-unit The Hyde in the Balmoral area and the 48-unit The Asana in Bukit Timah.

The developer made its first foray into the commercial sector in 2024, when it acquired The Rail Mall in Upper Bukit Timah for S$78.5 million from Paragon real estate investment trust.

## Chinese translation

> Translation model: grok_cli

### 黄氏家族旗下远东机构以新币8420万元将Watten Estate物业售予Aurum Land

据了解，该地段计划开发有地住宅项目

【新加坡】房地产巨头远东机构（Far East Organization）已将Watten Estate一处永久地契物业，以新币8420万元售予精品开发商Aurum Land。

位于Watten Estate Road 134号的地段上，有一座由远东机构子公司Lucky Realty Company于1970年代建造的三层无电梯公寓楼。集团自那时起持有该物业，并将公寓出租。

售予Aurum Land的交易于8月31日登记了产权警告书（caveat），按总占地约37,155平方英尺（sq ft）计算，约合每平方英尺新币2,266元（psf），其中包括约32,953平方英尺的地块及毗邻约4,202平方英尺的地段。

该交易由Realstar Premier Group撮合。该物业至少推销了六个月，并吸引了数个出价，最终由和合集团（Woh Hup Group）旗下精品房地产开发部门Aurum Land成为买家。

该公寓楼所在土地规划为混合有地住宅。据《商业时报》了解，Aurum计划在该地段开发有地住宅项目。

据政府Realis数据库，今年1月至8月，Watten一带约有11处永久地契有地住宅易手。

交易区间从Watten Residences集群式有地项目中一套独立式单位的新币540万元（约每平方英尺新币1,100元），到Watten Estate Road上一栋占地约8,700平方英尺、成交价新币1800万元的半独立式房屋，该物业估值为每平方英尺新币2,064元。

该地位于武吉知马优质住宅区，Watten Estate Road 134号是已故黄廷芳自1960年代起逐步开发的广阔Watten Estate的一部分，其家族住宅Ng's Mansion坐落在Watten Estate Road入口一角。

Watten Estate占地超过200万平方英尺，以有地住宅为主。

远东机构也在该社区建造了多个公寓项目，包括位于Shelford Road地段、共104个单位的Watten Estate Condominium。该项目于2021年以集体出售方式，以新币5.508亿元售予华业集团（UOL Group）。

华业及其子公司新加坡置地（Singapore Land）此后将该地段开发为Watten House，这是一个180个单位的项目。该永久地契项目于2023年11月首次推售时，售出57%的单位，均价约每平方英尺新币3,230元。

远东机构仍在Watten和Shelford一带持有物业作出租用途。

Aurum Land由Michelle Yong执掌，其父Yong Tiam Yoon领导建筑集团和合，该公司近年有多宗收购。

2023年，该公司以新币6680万元买下Kheam Hock Road 34号和36号的永久地契Kew Lodge。这块34,433平方英尺的地段被重新开发为八栋有地住宅，包括半独立式、独立式和排屋。

其住宅组合还包括Balmoral一带117个单位的The Hyde，以及武吉知马48个单位的The Asana。

该开发商于2024年首次进军商业领域，以新币7850万元从百利宫房地产投资信托购入上武吉知马的The Rail Mall。