Smartisan Development buys two freehold industrial sites at Mandai Estate for $100 million

(Find out more about the upcoming projects here).

Smarstisan Development has just completed a purchase of two freehold industrial sites–10 and 12 Mandai Estate–for $100 million, which works out to a land rate of $657 psf per plot ratio (psf ppr) including the land betterment charge. The company has plans to turn the site into a freehold food factory.

Having already developed One KA @ Macpherson in Kampong Ampat and E9 Premium@Woodlands, a commercial property at Woodlands Industrial Estate, Smartisan is no stranger to the industrial sector. The plots at 10 and 12 Mandai Estate, which are zoned for business 2 use with a plot ratio of 2.5 according to the 2019 Master Plan, are located off Woodlands Road. 10 Mandai Estate covers 34,919 sq ft, while the adjacent plot at 12 Mandai Estate occupies 30,246 sq ft.

Bruce Lye, managing partner of SRI, which brokered the sale, sees the potential of the Sungei Kadut Eco District to revitalize and enhance the neighbourhood. He believes it will provide the opportunity for more climate-resilient and environmentally-friendly industrial development.

In July 2022, the former BHL Factories at 2A and 2B Mandai Estate were sold to the real estate and construction firm Chiu Teng Group. SRI, once again, represented the seller. This freehold site of 80,288 sq ft is estimated to have been sold for above $130 million and will be turned into the upcoming CT FoodNex. This 10-storey, multi-user food factory is composed of 110 strata-titled units and is ideal for central kitchen operations, food processing and production, and cold storage.

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Business 2 Freehold industrial land is highly sought after and rarely available for sale, making Smartisan’s purchase of 10 and 12 Mandai Estate even more remarkable. With the potential of more climate-resilient and environmentally-friendly developments in the future and Smartisan’s extensive experience in the industry, this new food factory is sure to be a success. Check out other developments near One KA @ Macpherson and find out more about upcoming projects here.