Noel Gifts International Ltd has successfully secured a premium freehold land parcel at the intersection of Jalan Jamal and Elite Park Avenue, marking a significant expansion of its property development portfolio. The company, which finalized the tender at $39.5 million, has acquired a strategic 3,301 square meter (35,532 square feet) plot in Singapore’s Upper East Coast area, with dimensions measuring approximately 45 meters by 58 meters.
Established in 1975 as “Noel Commerce,” the company initially ventured into the flower business in 1982 before rebranding as “Noel Gifts International Ltd” in 1993. The firm, which has been listed on the Singapore Exchange Mainboard since 2008, has evolved from being mainly known for hampers, flowers, and gifts to developing a substantial presence in the property sector through its dual-segment operational structure. This transition builds upon the company’s heritage as a winner of the Singapore Prestige Brand Award in 2012, recognizing its exceptional brand practices spanning more than three decades.
From gift hampers to property development, Noel Gifts has transformed its business portfolio while maintaining its Singapore Exchange listing since 2008.
The acquisition represents a calculated diversification from Noel Gifts’ traditional core business and demonstrates the company’s commitment to strengthening its position in Singapore’s real estate market. The property’s location in the Upper East Coast region provides considerable development potential due to its proximity to established amenities and transportation infrastructure, making it suitable for residential or mixed-use development projects. Customers who sign up for Noel’s online services receive 10% discount on their first purchase, adding value to their expanding customer base.
This tender win carries significant financial implications for Noel Gifts, as the $39.5 million investment will impact the company’s balance sheet while potentially generating substantial long-term returns. The freehold status of the land further enhances its intrinsic value, providing the company with perpetual development rights and increasing flexibility for future projects. Given Singapore’s anticipated property price growth of 4-7% in in 2025, this investment is well-positioned to benefit from favorable market conditions.
The strategic land acquisition aligns with Noel Gifts’ broader expansion strategy, allowing the company to leverage its established brand recognition in a new sector while creating synergies with its existing gift business. As property values in Singapore continue to demonstrate resilience, this diversification into real estate development positions the company to capitalize on multiple revenue streams and implement a thorough long-term growth strategy in both its core gift business and emerging property development operations.
