News

Commercial Property

Staff Reporter

, Singapore

Published:

26 days ago

215 views

Photo from Pexels by Andrea Piacquadio.

Guocoland signs $51.4m JV with Hong Leong

The agreement is for the development of a land parcel at Tengah Garden Avenue.

GuocoLand Limited, through its wholly owned subsidiary GuocoLand (Singapore) Pte. Ltd., has signed a joint venture agreement with Hong Leong Holdings Limited subsidiary Intrepid Investments Pte. Ltd. (Intrepid) and CSC Land Group (Singapore) Pte. Ltd for the development of a land parcel at Tengah Garden Avenue.

Under the agreement, GLS, Intrepid, and CSC Land, as the JV partners, will hold shares of 20%, 60%, and 20%, respectively.

The current total for all transactions with entities under the Singapore Hong Leong Group for FY2025 is $266m, which includes a sum of $255.5m being the aggregate value of joint ventures with entities under Singapore HL that were previously announced.

The current total of all interested person transactions for FY2025 is $350m

The aggregate value of the JV is at $51.4m for the current financial year ending 30 June 2025.

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