Roxy To Acquire Three Jalan Eunos Sites Of 7685sqft
Jalan Eunos Sites
On Wed 14 September 2016, Roxy-Pacific Holdings through its subsidiary RH Eunos has entered into an agreement to buy three freehold residential sites totaling 7,685sqft at Jalan Eunos for $10.978 million. These 3 sites comprise lots 180, 182 and 184 Jalan Eunos with a 1.4 plot ratio.
Earlier in Feb 2016, Roxy-Pacific had acquired an existing freehold pair sites at 178 and 180A Jalan Eunos with a total area of 17,236 sq ft. It plans to combine these 5 sites for redevelopment into apartments.
It is also in their plans to acquire adjacent state land and if this is successful, it will make a total of 45,000 sqft of net saleable area, says Roxy-Pacific CFO Koh Seng Geok.
Pasir Panjang Site
Further to the above land acquisition to shore up its land bank, the Company also agreed in August 2016 to en-bloc Harbour View Gardens in Pasir Panjang for $33.25 million. It has a land size of 30,745 sqft and a plot ratio of 1.4. There are plans to build a 5-storey new apartment property with about 55 units. This purchase will only pull through upon the Company getting an ‘order for sale’ from the Strata Titles Board or the High Court approving the sale.
Roxy-Pacific is a property developer and is also well-known in the hospitality arena. The Company has also developed Singapore Property such as Liv On Wilkie in prime district 9 and Trilive in district 19, the north-eastern part of Singapore.