
Alpina Holdings to take over Wan Dormitory for $24m
The company will use the property for its use.
Alpina Holdings has entered into a non-binding term sheet with Dacai Pte. Ltd. and Dong Cai to acquire the entire issued and paid-up shares capita of Wan Dormitory for $24m.
Dacai owns 99.0% of Wan Dormitory, whilst Cai and his wife own the remaining 1.0%.
In a bourse filing, the company said it intends to acquire the property as an investment and to use it as additional dormitory space for its workers.
Alpina Holdings added that the lack of available dormitories in Singapore made it difficult for the company to expand their foreign worker workforce.
Wan Dormitory is situated at 180 Woodlands Industrial Park E5.
Commentary
Workplace 3.0: Transforming work environments to support innovation and meaningful work
The race to gender equity for Asia’s startups
How Many Apps Does It Take to Change a Workplace?
In an era of zero-sum thinking, business leaders must unlock a mutually beneficial future
Diversifying your portfolio: Alternative investments in Singapore to consider in a low-interest rate environment
Navigating the digital future: A closer look at Singapore Budget 2023 measures in view of the rapidly changing workplace