Oxley Holdings joins with Lian Beng Group to redevelop Hougang Plaza
The joint venture gave birth to Oxley Bloom.
Here's from OCBC Investment Research:
Lian Beng Group (LBG) announced it is forming a joint-venture, Oxley Bloom Pte. Ltd., with Oxley Holdings Limited. Oxley Bloom has received the acceptance of its tender to purchase Hougang Plaza at 1189 Upper Serangoon Road at the purchase price of S$119.1m.
Oxley Bloom intends to redevelop Hougang Plaza, which is a 99-year leasehold three-storey neighbourhood
shopping mall with a land area of ~57,047 square feet. LBG will finance its share of this investment by internal resources and/or bank borrowings.
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