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Roxy-Pacific affiliate to buy 2 sites in Singapore for residential scheme

Roxy-Pacific Holdings Ltd. affiliate RH Guillemard Pte. Ltd. agreed to purchase two freehold residential sites in Singapore for S$33.5 million.

The sites, 2 Guillemard Lane and 6 Guillemard Lane, have a combined land area of approximately 14,030 square feet and a 2.8 gross plot ratio.

Following the proposed acquisition, to be financed using a combination of internal funds and bank loans, the sites will be combined with two other recently purchased sites in the area. The amalgamated site, which will have an estimated land area of 25,601 square feet, is intended to be transformed into a residential development, the company added.

As of Oct. 2, US$ 1 was equivalent to S$1.36.