Keong Hong JV Awarded Antares Condo Site
SINGAPORE (May 17): A joint endeavor (JV) company containing Keong Hong, Hock Lian Seng Holdings and TA Corp has actually been awarded a land parcel at Mattar Road at a tender price of $223 million.
Joint venture business FSKH is 45% owned by Hock Lian Seng, 35% possessed by Keong Hong Holdings as well as 20% possessed by TA Corp. Reserve for household growth, the Mattar Roadway site tender drew a number of 10 quotes, that included a mix of big and also smaller sized programmers.
Silat Method GLS website receives single quote of $1.035 billion, Mattar Road draws 10 quotes. Similar to nearby The Woodleigh Residences.
The land parcel is under a 99-year lease and has a website location of 6230.2 sqm with an optimum gross floor location (GFA) of 18,691 sqm. Following the award of the land parcel,
FSKH has actually boosted its paid-up share capital from $100 to $1 million with the very same shareholding framework.
The JV financiers will certainly utilize their own interior funds and bank loanings to finance the procurement. Shares in Keong Hong, Hock Lian Seng and TA Corp closed at 58 cents, 44 cents and also 22 cents, respectively.
Source: The Edge Singapore
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