Roxy Pacific Acquire Freehold River Valley Site For $110 Million
It was informed by Property group Roxy-Pacific Holdings on Monday (Aug 7) that agreement has been initiated to acquire freehold residential site for S$110 million in River Valley Road.
The site is in-between Wilmer House condominiums and Verv @ RV.
Land area covers 28,798 sq ft and current plot ratio of 2.8 coming under 2014 Master Plan for residential apartment development. The new development sale is expected to kick-start around Quarter-3 2018 and the finished apartment block is estimated to consist 148 units.
Roxy-Pacific said the finance for this acquisition will be through internal funds and bank loans and not expected to have any sort of material impact on the consolidated earnings of the group and the net tangible assets/share for the current fiscal year ending December 31. The acquisition will be done through Roxy-Pacific’s subsidiary, RH Capital Two.