Hong How re-enters Singapore residential market with launch of Claydence on Still Road

February 10, 2023

Property developer Hong How Land intends to launch Claydence, its boutique condominium at the corner of Still Road and Koon Seng Road, on Feb 11. This will mark “Hong How Group’s return to residential projects after over 15 years”, says Teo Teck Weng, director of Hong How Land, a joint venture between Hong How Corp (60%) and Marrion Capital (40%). He owns the companies together with his elder brother Daniel Teo, chairman and managing director of Hong How Group; their children are also shareholders of the companies.

The 28-unit Claydence sits on a 23,541 sq ft, freehold plot, the result of the amalgamation of three adjacent sites that Hong How purchased two years ago. One site is the former 29-room Malacca Hotel at 97 and 99 Still Road, while the second site is the adjacent two-storey apartment block at 137 Koon Seng Road, which the hotel operator used as a workers’ quarters and for its administrative work. Hong How purchased the two sites en bloc for $21 million in a deal brokered by CBRE at the close of the tender at end-March 2021.

Hong How followed up with the purchase of the third site at 133 Koon Seng Road for $14.5 million in a private treaty deal four months later. On the site of 133 Koon Seng Road is a five-storey apartment block with 10 units. Teo learnt that the family owning the property was looking to sell. Hence, it made sense to purchase the site for amalgamation as “the Malacca Hotel site was too tight”, says Teo.

The former Malacca Hotel has since been demolished. The five-storey apartment block at 133 Koon Seng Road is the next building headed for demolition. With excavation works underway on the site, the sales gallery for Claydence is located at #01-09/10 in Wilkie Edge at 8 Wilkie Road. Completion of Claydence is scheduled for April 2026.

More at: https://www.edgeprop.sg/property-new...nce-still-road