The Roxy-Pacific Holdings secondary RH Capital Two has endorsed an agreement to obtain a freehold residential location together with River Valley Road for $110 million, the cluster broadcasted on August 7 (Monday).
Conveniently situated around 200 meters from the approaching Great World City MRT station along the Thomson-East Coast Line, the unoccupied lot has a land area of 28,798 square feet and a current plot ratio of 2.8 beneath the 2014 Master Plan.
Roxy-Pacific proposes to cultivate the area into a fabulous high-rise apartment block of around 100 units, and is anticipated to launch the development in Q3 2018. The eminent developers have high hopes to make this project run successfully and looking forward for great deals.
Answering to our questions, a spokesperson for the developer mentioned: “The acquisition was in line with the company’s outlook that major properties are presently undervalued and is in a retrieval cycle.”
The price of the acquisition will be funded by bank borrowings and internal assets, and is not predictable to have a material influence on the group’s combined earnings and net concrete assets for each share of the company for the existing financial year ending 31 December.
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