Corporate Digest

Published Mon, Oct 25, 2021 · 10:03 PM

Alset International

CATALIST-listed property investment and development company Alset on Monday evening announced that its indirect subsidiary, Alset EHome successfully completed the acquisition of approximately 19.5 acres (7.9 ha) of partially developed land adjacent to The Woodlands in Houston, Texas.

The land will be used to develop an eco-friendly home (Ehome) community called Alset Villas, where Alset EHome is targeting the development of approximately 70 Ehomes. The group said that Alset Villas will further strengthen its existing portfolio of single-family home projects.

The acquisition is not expected to have a material impact on the net tangible assets per share and the earnings per share of the company based on audited financial statements of the group for the financial year ended Dec 31, 2020.

The group also said that Alset Ehome will continue to build Ehomes with a clean energy ecosystem encompassing housing, transport and electricity. Each Ehome will also offer the use of a Tesla vehicle to promote electric vehicle usage. Some communities will include amenities such as cafes, infant or childcare clubs and social events venues.

Aside from acquisition of developable land and entire pods in master planned communities, Alset International also said that Alset EHome's management will continue to work actively with its partners to execute a "strong pipeline" of future single-family homes.