Joint venture between ABR unit and LWH wins tender for 3 properties worth S$23.6m
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ABR Holdings on Friday said that Baywind Properties - its 50:50 joint venture company with LWH Holdings - had been awarded a tender for three freehold properties in Lorong N Telok Kurau.
The tendered price of the three residential properties, which are located at 93B, 93C and 95 Lorong N Telok Kurau, is S$23.6 million.
The three properties consist of a pair of semi-detached houses, and one bungalow. The estimated total land size is 18,507.62 sq ft.
ABR said the tender was submitted in the ordinary course of the company's business. ABR and LWH intend to develop the properties into apartments, subject to necessary approvals being obtained.
The purchase price of the properties will be financed by a combination of internal resources and bank borrowings.
ABR said the purchase is not expected to have a material impact on its consolidated earnings and net tangible assets per share for the financial year ended Dec 31, 2020.
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ABR shares ended Thursday flat at 67.5 Singapore cents.
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