Singaporean Real Estate Firm Acquires 3.5 Hectares of Land on Koh Norea

Singaporean Real Estate Firm Acquires 3.5 Hectares of Land on Koh Norea

Singapore real estate company AKRAM Development Co., Ltd has acquired 3.5 hectares of land on Koh Norea with plans to turn it into a new landmark property.

Touch Samnang, Deputy General Director of OCIC, said on August 15 that the two companies had recently signed the sale & purchase agreement for 3.5 hectares of land.

The agreement was signed by Oknha Pung Kheav Se, Chairman of the Board of Directors of OCIC, and Melvin Poh, AKRAM Development Director, in witness of Kelvin Chua, CEO of AKRAM Development Co., Ltd.

The investment by AKRAM in the project is estimated at over US$150 million.

The company said it is pleased to be a part of the Koh Norea development and strongly hopes that the area will become one of the firm’s showcase projects.

According to AKRAM, the construction of the sales office and mock-up units will be completed in the first quarter of 2023.

The US$2.5-billion Koh Norea development covers an area of 125 hectares. OCIC, the developer of the project, is also currently building two bridges, one connecting to Koh Pich and the other connecting to NR1. Both bridges cost up to US$38 million.

The bridge connecting Koh Norea to NR1 is scheduled to open for traffic in September, as construction is now more than 90% complete. (Read more)

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