The acquisition was made through a joint venture with GemLife. The property will be GemLife’s sixth land lease community.
With 96 homes, it will bring the firm’s total number of residences to over 1,400. Construction is set to start in October, with the first homes ready for occupancy in less than six months.
Singapore’s Thakral, which has two business divisions of investment and lifestyle and entered the retirement living space five years ago.