FOR IMMEDIATE RELEASE

52 & 54 Belmont Road – Freehold 41,741 sqft Good Class Bungalow for sale by Expression of Interest (“EOI”)

14th January, 2025

SINGAPORE, 14 January 2025 –
Sakal Real Estate Partners (“Sakal”) is pleased to launch the sale of 52 & 54 Belmont Road, a
pair of Good Class Bungalows (“GCB”) overlooking Cornwall Gardens, for sale by Expression
of Interest (“EOT”) with an indicative price S$88.8 million.

The existing property comprises a pair of GCBs on a 3,877.9 sq m/ 41,741 sq ft land with a
wide 44 metre frontage along Belmont Road and average depth of 66 metre. Zoned within
the “Belmont Park GCB Area” under the URA 2019 Master Plan, purchasers can build 1 or 2
GCBs on the existing plot.

“We believe this site would appeal to families looking to build a new home for multi
generational living or extended families living together.” Says Lennon Koh, senior director at
Sakal. He adds, “Besides homeowners, this property is also suitable for developers seeking to
tap into the exclusive GCB market.”

“GCB prices have demonstrated considerable strength over the past 12 months. Its
performance outstripped that of the broader residential market on the back of very robust
demand and finite supply. The estimated total value of GCB transactions in 2024 of S$1.32
billion exceeded that of 2023 (S$433 million) and 2022 (S$1.18 billion), and we expect more
transactions in 2025.” Says Steven Ming, managing director at Sakal.

Based on the existing site area, the asking price of S$88.8 million translates to S$2,128 psf.
Some recent GCB transactions in the neighbourhood includes 59 & 59A Belmont Road (land
area 43,790 sqft) for S$131.4m/ S$3,000psf in July 2024 and 5 Bin Tong Park (28,111 sqft) for
S$84.0m/ S$2,988psf. Brand new GCB transactions in recent years include 1C Tanglin Hill
(15,150 sqft) for S$93.9m/ S$6,200psf and 12 Chee Hoon Avenue (15,486 sqft) for S$55.0m/
S$3,810psf.

Sakal anticipates keen interest in the EOI given its attributes, favourable location and strong
demand for Good Class Bungalows in Singapore. The tender will close on 13 March 2025
(Thursday) at 3pm. - End -