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TEE Land to acquire freehold land at Gilstead Road for $72 mil

Property

TEE Land to acquire freehold land at Gilstead Road for $72 mil

Stanislaus Jude Chan Published on Tue, Nov 07, 2017 / 5:53 PM GMT+8

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SINGAPORE (Nov 7): Real estate developer TEE Land has entered into 11 option-to-purchase agreements to acquire the freehold interest of 35 Gilstead Road, known as Casa Contendere, for $72 million.

The group says it plans to build a block of residential apartments on the land, which spans some 3,527.7 sqm.

In a filing to SGX on Tuesday, TEE Land says the proposed acquisition will be financed via internal funds and bank borrowings.

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