Roxy-Pacific buys five shophouses for S$17m

PROPERTY developer Roxy-Pacific Holdings has agreed to acquire five adjoining two-storey shophouses on Upper Bukit Timah Road for S$17 million in total, it said in a Singapore Exchange filing on Tuesday.

It said the shophouses made up a freehold residential site with an estimated total land area of 10,256 square feet and an existing plot ratio of 2.5 under Singapore's 2014 land use master plan.

The agreement to purchase was done via its unit RH Capital, and the acquisition will be paid for with internal funds and bank borrowings, Roxy-Pacific said.