SINGAPORE (Dec 20): Goodland Group, the premier lifestyle property developer, today announced that its wholly-owned subsidiary, Goodland Citrine, has exercised an option to acquire two industrial properties located at 31 and 33 Kim Chuan Drive for a consideration of $18.9 million.
The two properties have a freehold tenure with an aggregate land area of about 1,415.3 sqm with “Business 2” zoning and a maximum gross plot ratio of 2.5.
The properties are located within Tai Seng Industrial Estate and are within walking distance to Tai Seng MRT.
The group says that it intends to redevelop the property, subject to obtaining all the necessary approvals from the relevant authorities.
This acquisition will be funded through internal resources and/or bank borrowings.
Shares in Goodland closed at 24.5 cents on Thursday.