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Far East unit wins tender for S$183M Singapore asset

FEC Properties Pte. Ltd., a subsidiary of Hong Kong-listed developer Far East Consortium International Ltd., was awarded the tender for the purchase of a property on Singapore's Holland Road, at a sale price of S$183.4 million.

At present, the property comprises a six-story block with a total freehold site area of approximately 4,971 square meters. Subject to planning approvals from relevant authorities, it will be developed into a residential asset spanning a freehold gross floor area of roughly 10,000 square meters, according to a release.

As of March 1, US$1 was equivalent to S$1.33.