SINGAPORE (Sept 30): Mainboard-listed Thakral Corporation has acquired another property in Queensland, Australia, as part of its development venture of resort-styled retirement housing for those aged 50 and above. 

In a regulatory filing on Monday, Thakral says the latest acquisition, located on the Pacific Paradise on the Sunshine Coast, will expand GemLife’s rapidly growing portfolio to six resorts.

To date, GemLife has committed about A$6 million ($5.6 million) to the resort which will comprise 96 homes upon completion. This brings the total number of residences under the company to more than 1,400.

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