Geylang Land is owned by Oxley For $13m
A 99-year leasehold site from Huang Shi Zong Hui (Singapore) has been acquired by Oxley Pearl, which is Oxley Holdings's fully-owned subsidiary with $13 million.
To be funded by internal sources, the acquisition is “not expected to have a material impact on the earnings per share or net tangible assets per share of the company for the current financial year ending 30 June 2018”
Geylang land area measures about 2,219.6 sq m (23,892 sq ft) and is zoned for residential/institution use and located at 16 Lorong 35 Geylang. Beacause its strategic location, some developers want to launch new condo in Geylang.
Oxley announced in an SGX filing released on Monday (5 February) that they had a plan to develop an eight-storey mixed-use project on the site named Sixteen35 Residences.
Sixteen35 Residences is a private residential condominium by Oxley Holdings Limited along 16 Lorong 35 Geylang in District 14, Singapore. The upcoming condo comprises ONLY 60 fantastic units. Just a few minutes away from Paya Lebar MRT and Aljunied MRT.
The project’s second and third storeys will comprise Huang Shi Zong Hui’s premises, while the fourth to eighth storeys will feature residences.
Oxley also said Sixteen35 Residences
will have a wide range of amenities, such as swimming pool, communal facilities and car park at the basement and first storey.
Please take a look at Location know more detail about this strategic location and do not hesitate to contact us to own a fantastic unit at Sixteen35 Residences.
Adapted from PropertyGuru, February 6, 2018