Tiong Seng Holdings to acquire two residential sites at Jervois Road for $21 mil

SINGAPORE (July 17): Mainboard-listed construction group Tiong Seng Holdings is acquiring two residential freehold sites along Jervois Road for total consideration of $21 million via a joint venture.

The sites are both located in prime district 10, and have a combined site area of approximately 13,415 sq ft with a gross plot ratio of 1.4.

In a Monday filing to the SGX, Tiong Seng says that its wholly-owned subsidiary, Yuan Ching Development, has entered into a joint venture with Arctic Sky Investment, a wholly-owned subsidiary of Ocean Sky International, an investment holding company with an interest in civil engineering, construction and related services.

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