The Business Times
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Stamford Land takes A$265m loan for Sydney project construction

Published Fri, Apr 10, 2015 · 10:08 AM

    STAMFORD Land Corporation on Friday announced that HSH Hotels (Australia) Ltd, as trustee for a trust that it wholly owns, has signed a loan agreement with a major commercial bank for a secured term loan facility of A$265 million (S$277 million).

    This will be used to fund the construction of its Macquarie Park Village project, a "resort-style urban village" located in a high-tech business park north-west of downtown Sydney. It will sit atop the Stamford Grand North Ryde Hotel, a Stamford Land property.

    The transaction has no impact on the group's earnings per share or net tangible assets per share for the financial year ending March 31, 2016, it added.

    stamford land

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