{"id":23335,"date":"2016-08-19T09:53:21","date_gmt":"2016-08-19T02:53:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/oue-acquires-nassim-sites\/"},"modified":"2016-08-19T10:05:55","modified_gmt":"2016-08-19T03:05:55","slug":"oue-acquires-nassim-sites","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oue-acquires-nassim-sites\/","title":{"rendered":"OUE acquires Nassim sites"},"content":{"rendered":"


\nView of the Nassim Road GCB plots. (Photo: CBRE)
\nProperty developer OUE Limited is going ahead with plans to acquire two land parcels at 28 Nassim Road for $56.6 million, after successfully tendering for the sites on 18 August.
\nLocated within the prestigious Good Class Bungalow (GCB) area of White House Park and Nassim Road, the sites have a combined area of about 33,368 sq ft and are adjacent to Eden Hall, the official residence of the British High Commissioner.
\nOUE is looking to redevelop the sites. In an SGX filing, the company revealed that the bid price was arrived at after taking into account various factors, such as the exclusive location and the prevailing market value of properties in the area.
\nThe acquisition is expected to take place in late October and will be funded out of the company\u2019s internal resources.
\nOUE does not expect the acquisition to have any material impact on the company\u2019s net tangible assets per share or earnings per share for the current financial year ending 31 December 2016.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…OUE acquires Nassim sites<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of the Nassim Road GCB plots. (Photo: CBRE) Property developer OUE Limited is going...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-23335","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-64n","jetpack-related-posts":[{"id":109912,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/stephen-riady-acquires-nassim-road-gcb-from-oue-unit-for-95mil\/","url_meta":{"origin":23335,"position":0},"title":"Stephen Riady acquires Nassim Road GCB from OUE unit for $95mil \u00a0","date":"August 15, 2019","format":false,"excerpt":"\r Stephen Riady, the executive chairman and controlling shareholder of OUE Limited, is purchasing a good class bungalow (GCB) at Nassim Road from an OUE unit for $95 million, revealed OUE in an SGX filing on Wednesday (14 August). OUE Reef Development, an indirect fully-owned subsidiary of OUE, has entered\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nassim-road-gcb-for-sale-for-175m\/","url_meta":{"origin":23335,"position":1},"title":"Nassim Road GCB for sale for $175m","date":"October 17, 2019","format":false,"excerpt":"\r The two-storey bungalow has a total floor area of about 13,839 sq ft and\u00a0is a mere five-minute walk to the Botanic Gardens, and is a 10 minutes\u2019 drive to the CBD. Image source: CBRE A two-storey conservation good class bungalow (GCB) at 40 Nassim Road has been put up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28425,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-sector-dominates-property-investment-sales-in-q3\/","url_meta":{"origin":23335,"position":2},"title":"Residential sector dominates property investment sales in Q3","date":"October 4, 2016","format":false,"excerpt":"\r Landed home sales, especially large bungalow transactions, contributed significantly to property investment deals last quarter, research shows. Real estate investment sales in Singapore jumped 16 percent year-on-year to $4.61 billion in the third quarter of 2016 from $3.99 billion a year before, according to preliminary estimates from JLL. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35282,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-caution-exercised-in-bidding-activity\/","url_meta":{"origin":23335,"position":3},"title":"More caution exercised in bidding activity","date":"November 22, 2016","format":false,"excerpt":"\r Developers have shifted their focus to the private market, with Roxy-Pacific signing a $33.25 million deal for Harbour View Gardens. 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