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OXLEY Holdings is buying a freehold property in the southern part of Singapore for S$121 million.
It plans to redevelop the property known as 231 Pasir Panjang Road, subject to obtaining all the necessary approvals from the relevant authorities.
The option to purchase the property was entered into by its wholly owned subsidiary, Oxley Amber Pte Ltd, on July 11 with Casuarina Properties (Pte) Ltd.
This proposed purchase will be funded by internal resources and bank borrowings.