It intends to redevelop the property and upgrade its 99-year lease.
Oxley Holdings Limited (Oxley), through its subsidiary Oxley Spinel Pte. Ltd., bought all strata lots and common property in Vista Park for $418m.
According to an announcement, Vista Park comprises a leasehold estate of 99 years with a total land area of approximately 29,659.1 sqm and is zoned for residential use.
Oxley intends to redevelop the property and will apply for lease renewal. It will pay an upgrading premium of $72m.
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