Roxy-Pacific Holdings acquires Jade Towers

An Order for Sale from the Strata Titles Board has been granted.

Roxy-Pacific Holdings Limited’s wholly owned subsidiary Roxy Residential Pte. Ltd. has entered into a conditional agreement to acquire the freehold residential site comprised within Lot 5596L Mukim 24 at 2 and 4 Lew Lian Vale, Singapore 537014/537015. The development is also known as Jade Towers.

The purchase price for the freehold residential site, which has a total land area of 92,412 sq ft and an existing plot ratio of 1.425 for residential apartment development, is S$106,272,000.

The cost of the acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on Roxy-Pacific Holdings Limited’s consolidated earnings and net tangible assets per share for the current financial year ending 31 December 2012.