Low Keng Huat buys remaining 36 units at Balestier Towers

LOW Keng Huat (Singapore), which last August acquired 15 commercial units and an apartment at Balestier Towers for nearly $77.4 million, yesterday exercised options to purchase the balance 36 units in the mixed-use development for slightly above $63.9 million.

Its 99 per cent owned subsidiary Newfort Alliance (Moulmein), which made the two sets of acquisitions, plans to redevelop the 29,986-sq-ft site into a mixed residential and commercial development. The site's tenure is statutory land grant, which is akin to freehold tenure. Tan JingWen (Chen JingWen) …