Soon Hock unit joins $351m redevelopment consortium

It will hold on 10% stake in new property joint venture.

Soon Hock Enterprise Holding Limited said its wholly owned subsidiary, Soon Hock Fortune Pte. Ltd., has joined a consortium to acquire and redevelop a property valued at $351 million.

The joint venture will be carried out through Thomson Gem Pte. Ltd., a newly formed company, according to a filing on 22 October. Soon Hock Fortune will hold a 10% stake, with the remainder held by Macritchie Developments, KSH Blazar, Centurion Properties, Petrus Capital Holdings, and WPS (TPY).

Soon Hock said its estimated investment of $35.1m will not have a material impact on its net tangible assets or earnings for the year ending 31 December 2025. The company said it will provide further updates as the project progresses.

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