The unit GuocoLand (Singapore) would hold a 60% stake in the land, while Intrepid, a unit of Hong Leong Group's investment arm, would have a 40% interest.

The piece of land located at Upper Thomson Road could potentially yield about 940 residential units, GuocoLand said.

($1 = 1.3641 Singapore dollars).

(Reporting by Echha Jain in Bengaluru; Editing by Vijay Kishore)