Tuan Sing subsidiary to purchase Hillview site for $47.8 mil

SINGAPORE (April 12): Property developer Tuan Sing Holdings via its wholly-owned subsidiary, Episcia Land, today exercised an option to purchase a piece of vacant land located at 1 Jalan Remaja in Singapore’s Hillview area from Andermatt Investments for $47.8 million.

In a Wednesday aftermarket announcement, the group declares Andermatt Investments as an unrelated and independent party which Episcia has paid an option fee of $4.78 million to – representing 10% of the total cash consideration sum.

The remaining 90%, which will be financed by a mix of both internal and external resources, is expected to be paid by Episcia to Andermatt Investments within 12 weeks from April 12.

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