Roxy-Pacific Holdings has purchased several sites in Jalan Eunos.
Roxy, a property developer and also in hospitality, through its subsidiary RH Eunos, is in an agreement to purchase a Jalan Eunos freehold residential site for $10.978 million.
According to Roxy SGX filing, the lots are located at Jalan Eunos 180, 182 and 184 on an area of approximately 7,685 square foot. The land is under 2014 master plan and at 1.4 gross plot ratio.
Roxy –Pacific Holdings had acquired another land parcel in February 2016 in Jalan Eunos on freehold site 178 and 180A.
The developer plans to combine this latest acquisition with the earlier site for the development of residential apartments.
Based on SGX filing, the cost of acquiring the site will be financed using bank borrowings and internal funds.
However, the purchases are not likely to impact the Group’s per share net tangible assets and consolidate earnings, for its financial year that will end on 31 December 2016.
Roxy-Pacific Holdings has made its name in the industry having developed other residential properties in Singapore and Australia. It also has a hotel in Singapore and another one in Kyoto Japan and intends to develop other hotels in Australia and Thailand.
Straits Mansions is a freehold apartment located in District 15 near MRTs, Expressways, education institutions and shopping centers. It will have 25 units with an expected TOP of September 2020.
Also located in District 15 is Sunnyvale Residences, a freehold development with 30 units. Its close proximity to Kembangan MRT makes it easy for the residents to access other parts of Singapore. Its TOP is expected in June 2018.
Roxy-Pacific has made it possible for multi-generational families to find a place to stay with Trilive. The freehold project has 222 units with different sized units ranging from one to four bedrooms.
With the acquisition of Jalan Eunos site, Roxy-Pacific will add to its portfolio another freehold residential project.