Thakral JV buys two properties in Australia

Singapore

MAINBOARD-listed real estate company Thakral Corporation said on Monday that GTH Resorts - a joint venture between TCAP Partners (a subsidiary of Thakral) and PVAP Pty Ltd (a subsidiary of Living Gems Lifestyle Resorts) - has bought its first two properties in Queensland, Australia, to build retirement houses.

GTH Resorts will develop and operate resort-style retirement housing for seniors over 50. These properties are Bongaree, Bribie Island, which has a land area of 24.89 hectares; and Highfields, Toowoomba, which has a land area of 9.4 hectares.