 Nov 2015: Agreement to buy 178 and 180A Jalan Eunos for S$14.202 million.Sept 2016: Agreement to buy 180, 182, 184, Jalan Eunos for S$10.978 million. Roxy-Pacific had tried to buy 180, 182 and 184 last year but "the price was not right," said CFO Koh Seng Geok. |
Some nine months after agreeing to acquire two freehold sites in Eunos, Roxy-Pacific Holdings has landed three more sites in the immediate vicinity.
The 5 sites will be amalgamated and redeveloped into apartments.
Asked if the latest acquisition would change the planned design for the first two sites, Roxy-Pacific CFO Koh Seng Geok said a re-design is in fact underway.
In addition, Roxy-Pacific is attempting to acquire adjacent state land which, if successful, will lower the overall land cost of the project, said Mr Koh.
CFO and executive director Koh Seng Geok. NextInsight file photo.
The first pair of sites is of about 17,236 sq ft of land in total while the latest three sites, 7,685 sq ft.
All have a plot ratio of 1.4.
"Depending on the outcome of our attempt to acquire neighbouring state land, we may be able to amalgamate all the acquired plots to give us up to 45,000 sq ft of net saleable area," said Mr Koh.
| ♦ Acquisition in Pasir Panjang | ||||
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Over in Pasir Panjang, Roxy-Pacific agreed in August 2016 to buy a freehold residential site for S$33.25 million.
Roxy-Pacific plans to build a five-storey apartment project with some 55 units. |
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