Roxy-Pacific Holdings

PROPERTY developer Roxy-Pacific Holdings has agreed to acquire five adjoining two-storey shophouses in Bukit Panjang for S$17 million in total, it said in a Singapore Exchange filing on Tuesday. The shophouses in question are the even-numbered ones from 826/A to 834/A Upper Bukit Timah Road.

It said that the shophouses were on a freehold residential site with an estimated total land area of 10,256 sq ft and an existing plot ratio of 2.5 under Singapore's 2014 land use master plan. The agreement to purchase was done via its subsidiary RH Capital, and the acquisition will be paid for with internal funds and bank borrowings, Roxy-Pacific said.