SINGAPORE (June 8): Ho Bee Land’s wholly-owned subsidiaries, HB Doncaster (HBD), and HB QLD have separately acquired a total of two residential development sites in Queensland, Australia, for a total of A$23.5 million (S$22.8 million).

HB Doncaster has acquired a 47.41ha site for A$14.5 million. The site is located within the Ripley Valley Priority Development Area in Ripley, Queensland. Ripley is situated approximately 42km from Brisbane’s Central Business District. The site is expected to yield some 570 residential lots, a regional sports facility and associated community facilities.

HB QLD has purchased an 8.98ha site in Queensland’s Sunshine Coast for A$9 million. The site is in the final two stages of the award-winning Parklakes 2 development. The site has received all the required development permits and will yield 95 residential lots.

Parklakes 2 is an established community with amenities such as a private school, extensive wetlands, walking trails and convenience retail. It is located 9.7 km from the Sunshine Coast Airport.

In a statement on Monday, Ho Bee Land says the projects are in its “ordinary course of business”.

Ho Bee Land’s shares closed 1 cent higher, or 0.5% up, at $2.15.