OUE acquiring two land parcels at Nassim Road after successful tender
PROPERTY developer OUE Limited is acquiring two land parcels within Singapore's most exclusive Good Class Bungalow enclave for S$56.6 million.
In an announcement on Thursday evening, it said that it has successfully tendered for the two land parcels totalling 3,100 square metres at 28 Nassim Road, which are adjacent to Eden Hall, the residence of the British High Commissioner.
The bid price was arrived at after taking into account factors including the location of the land parcels and the prevailing market value of properties in the vicinity, it added.
The acquisition is expected to take place in late October and will be funded out of its internal resources.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
OpenAI inks licensing deal with People magazine publisher
Apple unveils new AI-focused chip in upgraded iPad Pro models
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares
Disney's surprise streaming entertainment profit offset by weaker TV business
Geely, Foretellix partner to jump-start self driving car development
US: Wall Street opens slightly higher on rate cut optimism