The consortium led by Malaysia’s SP Setia Bhd won an exclusivity agreement on the 15-hectare site last month and completed due diligence to sign the deal yesterday.
It plans to press on with the existing planning consent, which includes 3,700 homes, 1.6 million sq ft of offices and 500,000 sq ft of shops and restaurants.
Its chief executive Tan Sri Liew Kee Sin said last month that the project could be built more quickly than the 15 years envisaged by previous owner Real Estate Opportunities.
The sale was confirmed today by advisers Knight Frank and Ernst & Young Real Estate Corporate Finance, who exchanged contracts for the site.