Aspial Corporation, through its wholly-owned subsidiary, World Class Land Pte Ltd, has acquired a site at Cardiff Grove for $31.63 million.
The site has a total land area of 4,772.3 sq m and is zoned for residential use with a gross plot ratio of 1.4.
Subject to approval from the relevant authorities, the company plans to develop a 180-unit condo project on the site.
Aspial said the cost of the purchase and development will be financed through internal resources and bank borrowings.