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Roxy-Pacific to buy Harbour View Gardens for S$33.25m

Wednesday, August 31, 2016 - 19:24
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A UNIT of property developer Roxy-Pacific Holdings has inked a conditional agreement to buy a freehold residential site at Pasir Panjang Road for S$33.25 million, it said in a Singapore Exchange filing on Wednesday evening.

A UNIT of property developer Roxy-Pacific Holdings has inked a conditional agreement to buy a freehold residential site at Pasir Panjang Road for S$33.25 million, it said in a Singapore Exchange filing on Wednesday evening.

It said the site, known as Harbour View Gardens, has an estimated total land area of 30,745 square feet and an existing plot ratio of 1.4 for residential apartment development.

The purchase is conditional upon Roxy's unit RH Developments obtaining an "order for sale" from the Strata Titles Board or the High Court approving the sale, Roxy added.

It said it would finance the acquisition with internal funds and bank loans.

Roxy-Pacific shares were not traded on Wednesday. They last closed flat at S$0.465 on Tuesday.