Sheng Siong has proposed to acquire both properties and also for the current vendor to take a lease in all eight strata units at Siglap V in a leaseback agreement.
Mainboard-listed Sheng Siong Group (SGX:OV8
) has entered into a conditional sale and purchase agreement to acquire Jelita Property for some $50.2 million.
According to a Sept 27 bourse filing, Jelita Property owns eight strata units at 2 First Street, also known as Siglap V; and the leasehold interest of 78 years from Oct 1, 1992 of a unit at 181 Toa Payoh Lorong 4.
