Oxley acquires Geylang land for $13m

Romesh Navaratnarajah6 Feb 2018

16 Lorong 35 Geylang property resized

Oxley intends to develop a mixed-use project on the site called Sixteen35 Residences. 

Oxley Holdings, via its fully-owned subsidiary Oxley Pearl, has acquired a 99-year leasehold site from Huang Shi Zong Hui (Singapore) for $13 million.

Located at 16 Lorong 35 Geylang, the land area measures about 2,219.6 sq m (23,892 sq ft) and is zoned for residential/institution use.

In an SGX filing released on Monday (5 February), Oxley revealed plans to develop an eight-storey mixed-use project on the site.

To be known as Sixteen35 Residences, the project’s second and third storeys will comprise Huang Shi Zong Hui’s premises, while the fourth to eighth storeys will feature residences.

There will also be a swimming pool, communal facilities and car park at the basement and first storey, said Oxley.

To be funded by internal sources, the acquisition is “not expected to have a material impact on the earnings per share or net tangible assets per share of the company for the current financial year ending 30 June 2018”.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

POST COMMENT

You may also like these articles

Oxley acquires Mayfair Gardens for $311mil

Mayfair Gardens is a 99-year leasehold development that comprises 124 units. (Photo: Knight Frank)Oxley Holdings Ltd, via its subsidiary Citrine Property Pte Ltd, has acquired Mayfair Gardens for $311

Continue Reading20 Nov 2017

Oxley buys Vista Park via en bloc sale for $418m

The owners of the 209-unit Vista Park in 50-66 South Buona Vista Road has agreed to sell the property via collective sale to Oxley Holdings for $418 million on Thursday (14 December).The property was

Continue Reading15 Dec 2017

Oxley now holds the largest residential land bank

After a flurry of overseas ventures, Oxley Holdings now holds the biggest residential land bank in Singapore by the number of dwelling units at almost 4,000 units, reported Business Times.This comes a

Continue Reading24 Jan 2018