Kewalram House En Bloc Sold for $120.51 Million to Soon Hock Enterprise
Rare 99-Year Leasehold Industrial En Bloc Deal Draws Market Attention
Singapore’s property market has just recorded a notable milestone.
Kewalram House, a private industrial development located along Jalan Kilang Timor in Bukit Merah, has been successfully sold en bloc for $120.51 million, slightly above its reserve price.
The deal stands out not just for its value, but for its rarity.
Industrial en bloc transactions, especially leasehold ones, are uncommon, making this a closely watched move among investors and developers alike.
Key Highlights of the Kewalram House Deal
👉 Sold for $120.51 million, exceeding the $120 million reserve price
👉 Buyer: Soon Hock Enterprise Holding
👉 Location: Jalan Kilang Timor, Bukit Merah
👉 Tender closed and awarded on March 24
👉 Likely the first successful leasehold industrial en bloc sale in Singapore
Kewalram House Strategic Industrial Site with Redevelopment Potential
Kewalram House sits on a sizeable land parcel of approximately 108,359 sq ft, zoned for Business 1 use with a gross plot ratio of 2.5.
The property still has about 34 years remaining on its 99-year lease, which began in 1961—making it a valuable redevelopment opportunity for the acquiring developer.
The current site comprises a mix of industrial units designed to support various business operations:
👉 56 strata-titled units
👉 5 standalone terrace units
👉 Unit sizes ranging from 1,066 sq ft to 8,665 sq ft
👉 Total strata area of approximately 201,543 sq ft
Why This En Bloc Sale Matters
This transaction is more than just another property deal, it reflects broader trends shaping Singapore’s industrial landscape.
👉 Demonstrates resilient investor confidence despite global uncertainties
👉 Highlights the scarcity and value of well-located industrial land
👉 Sets a precedent for future industrial collective sales
Industry observers note that successful transactions like this could encourage more ageing industrial developments to explore collective sales in the near future.
Soon Hock’s Growth Strategy and Vision
Soon Hock Enterprise Holding, an established industrial real estate developer, views the acquisition as a strategic move aligned with its long-term expansion plans.
The company is expected to reposition the en bloc site into a more modern, user-centric industrial development, catering to evolving business needs and operational efficiencies.
Singapore’s industrial property sector has been gaining renewed attention due to:
👉 Limited supply of redevelopment-ready sites
👉 Strong demand from logistics, tech, and light manufacturing sectors
👉 Strategic locations like Bukit Merah offering excellent connectivity
The successful collective sale of Kewalram House reinforces the idea that industrial assets remain a key pillar of Singapore’s real estate market.
Market experts highlighted that the deal underscores the intrinsic value of quality industrial land.
It also reflects sustained confidence from developers and investors, even amid ongoing geopolitical and economic uncertainties.
🏢 Kewalram House En Bloc All Details
👉 Status: Successfully Sold
👉 Buyer: Soon Hock Enterprise Holding
👉 Reserve Price: $120 million
👉 Sale Price: $120.51 million
👉 Date of Sale: March 24, 2026
👉 New Development: Planned industrial redevelopment (details not yet announced)
👉 Tenure: 99-year leasehold (commenced 1961, 34 years remaining)
👉 Land Size: 108,359 sq ft
👉 Total Units: 61 units (56 strata + 5 terrace units)
👉 Gross Plot Ratio: 2.5
👉 Gross Floor Area: 201,543 sq ft
👉 Address: 8, Jalan Kilang Timor, Singapore
👉 Nearby MRT: Redhill MRT (East-West Line)
👉 District: D3 – Queenstown / Bukit Merah
👉 Marketing Agent: Quinvest Chambers International