Sing Holdings acquires two properties

Singapore-listed Sing Holdings has signed a deal to acquire 1 Robin Drive and Robin Court for approximately $77.33 million, or about $1,363 psf of potential gross floor area.

The company said no development charge is expected for the acquisition.

The acquisition of Robin Court involves an en bloc sale and is subject to the approval from the Strata Titles Board.

Sing Holdings acquired the properties through a public tender exercise handled by marketing agency Credo Real Estate. It has an indicative price of about $66 million to $74 million, and draws a total of nine bids, with Sing Holdings offering the highest bid.

The two freehold properties, which are zoned for residential use, have a total land area of around 40,518 sq ft with a gross plot ratio of 1.4.