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Pacific Star Devt to take full control of Puteri Cove project for S$26m

The developer says being the sole owner of Puteri Cove is a requirement under a new S$70m 2-year secured loan facility

Published Wed, Dec 26, 2018 · 09:50 PM

    Singapore

    PACIFIC Star Development (PSD) is buying out its joint venture partner in the Puteri Cove Residences project to facilitate the obtaining of a S$70 million loan facility, the property developer announced late on Monday.

    PSD will face an outlay of S$26 million to buy out Max Treasure Co, the partner in Twin Prosperity Group, which is in turn the holding company of the Puteri Cove project in Malaysia.

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