{"id":61002,"date":"2017-07-18T09:45:30","date_gmt":"2017-07-18T02:45:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-jv-buys-two-residential-sites-for-s21mil\/"},"modified":"2017-07-18T09:50:14","modified_gmt":"2017-07-18T02:50:14","slug":"tiong-seng-jv-buys-two-residential-sites-for-s21mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-jv-buys-two-residential-sites-for-s21mil\/","title":{"rendered":"Tiong Seng JV buys two residential sites for S$21mil"},"content":{"rendered":"


\n\u00a0
\nA joint venture set-up by a unit of Tiong Seng Holdings has exercised an option to purchase two freehold residential sites in prime District 10 for a total of S$21 million, revealed an SGX filing on Monday (17 July).
\nWith a combined area of about 1,246.3 sqm (approx. 13,415 sq ft), the sites at TS24-245L and TS24-246C in Jervois Road have a gross plot ratio of 1.4.
\nThe purchase option was exercised by TSky Development Pte Ltd, a joint venture between Tiong Seng\u2019s wholly-owned unit Yuan Ching Development Pte Ltd (YCDPL) and Arctic Sky Investment Pte Ltd. The latter holds a 40 percent stake in the JV and is fully controlled by Ocean Sky International Limited.
\nThe acquisition will be funded by TSky\u2019s internal resources and by bank loans.
\nThe proposed acquisition is also expected to add to the existing property development portfolio of Tiong Seng, which is engaged in building construction, civil engineering and property development.
\nAs of 9am today (18 July), the price of the company\u2019s shares edged up by 1.59 percent to 32 SGD cents.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Tiong Seng JV buys two residential sites for Smil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 A joint venture set-up by a unit of Tiong Seng Holdings has exercised an...<\/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-61002","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-fRU","jetpack-related-posts":[{"id":70718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-subsidiary-backs-out-of-jervois-road-site-acquisition\/","url_meta":{"origin":61002,"position":0},"title":"Tiong Seng subsidiary backs out of Jervois Road site acquisition","date":"November 2, 2017","format":false,"excerpt":"\r Tiong Seng Holdings\u2019s subsidiary, TSky (Jervois), has exercised its right to rescind the option to purchase two freehold sites in Jervois Road. This comes as the necessary redevelopment approval for the sites has not been given by the relevant authority \u201cdue to restriction of redevelopment plans for the remaining\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84358,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-led-joint-venture-acquires-cairnhill-heights-for-72-6m\/","url_meta":{"origin":61002,"position":1},"title":"Tiong Seng-led joint venture acquires Cairnhill Heights for $72.6m","date":"April 2, 2018","format":false,"excerpt":"\r The purchase price of Cairnhill Heights is lower than the initial asking price of over $80 million. TSky Development, a joint venture between construction firm Tiong Seng Holdings and investment holding company Ocean Sky International, has agreed to acquire the Cairnhill Heights condominium at 16 Cairnhill Rise for $72.6\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67582,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-leads-nominations-for-propertyguru-awards\/","url_meta":{"origin":61002,"position":2},"title":"GuocoLand leads nominations for PropertyGuru Awards","date":"September 27, 2017","format":false,"excerpt":"\r Singapore\u2019s best residential, commercial, industrial and green properties will be awarded.\u00a0 More than 20 real estate projects from 16 companies and joint venture firms have been shortlisted for the PropertyGuru Asia Property Awards (Singapore) 2017, the most prestigious real estate competition here. Presented by Kohler and supported by PropertyGuru,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71252,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-named-as-top-local-developer-in-propertyguru-awards\/","url_meta":{"origin":61002,"position":3},"title":"GuocoLand named as top local developer in PropertyGuru awards","date":"November 8, 2017","format":false,"excerpt":"\r Tanjong Pagar Centre, named as Singapore\u2019s Best Green Development at the PropertyGuru Asia Property Awards. GuocoLand has been crowned as the city-state\u2019s best developer at the PropertyGuru Asia Property Awards (Singapore) 2017 held at the Sands Expo and Convention Centre yesterday evening (7 November 2017). \u201cThe company is a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-unit-te2-acquire-the-wilshire-for-98-8mil\/","url_meta":{"origin":61002,"position":4},"title":"Roxy Pacific unit, TE2 acquire The Wilshire for $98.8mil","date":"January 29, 2018","format":false,"excerpt":"\r A joint venture of RP Ventures Pte Ltd and TE2 Development Pte Ltd has acquired The Wilshire for $98.8 million, which works out to a land rate of $1,536 psf per plot ratio (ppr), revealed Savills Singapore, which brokered the deal. RP Ventures Pte Ltd is a subsidiary of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106333,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-subsidiary-awarded-190m-building-contract\/","url_meta":{"origin":61002,"position":5},"title":"Tiong Seng subsidiary awarded $190m building contract","date":"April 22, 2019","format":false,"excerpt":"\r The new residential development at Outram will comprise 774 units as well as communal facilities. A fully-owned subsidiary of Tiong Seng Holdings has been awarded a contract worth about $190 million by Areca Investment, revealed the company in an SGX filing. The contract awarded to Tiong Seng Contractors (Private)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61002"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=61002"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61002\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=61002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=61002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=61002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}