Aedge Group unit to acquire property in Kallang Bahru for $13.988m

The property has a land area of 2,652.1 square metres.

Aedge Group Limited has announced that its subsidiary HPF Holdings Pte Ltd was granted an option to purchase a property of Chutex Holdings Pte Ltd in 219 Kallang Bahru for $13.988m.

The property for sale includes a lot and the buildings and structures erected on it. It is a leasehold property granted by Jurong Town Corporation (JTC) with a 60-year lease term beginning 20 February 1984. It has a land area of 2,652.1 square metres and a built-up area of 6,617.9 square metres.

Chutex Holdings is currently partly occupying the property for its own use and partly leasing it out. It is a company incorporated in Singapore with business operations related real estate development.

HPF Holdings has paid $139,880.00, or 1% of the consideration price, to Chutex upon issuance of the option to purchase.

HPF Holdings may exercise the option to purchase until 22 September 2025.

In a bourse filing, it was disclosed that completion of the sale is subject to JTC’s approval and to the potential change of use as required by HPF Holdings. Completion is expected to take place on 1 June 2026.

It was also disclosed that Chutex is not related to the Aedge Group, its directors and controlling shareholders, and their respective associates.