{"id":63048,"date":"2017-08-08T10:40:26","date_gmt":"2017-08-08T03:40:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-buys-freehold-river-valley-site-for-110m\/"},"modified":"2017-08-08T10:44:43","modified_gmt":"2017-08-08T03:44:43","slug":"roxy-pacific-buys-freehold-river-valley-site-for-110m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-buys-freehold-river-valley-site-for-110m\/","title":{"rendered":"Roxy-Pacific buys freehold River Valley site for $110m"},"content":{"rendered":"


\nView of the vacant lot, which is expected to be developed into an apartment project comprising over 100 units. (Photo: Roxy-Pacific Holdings)\u00a0
\nRoxy-Pacific Holdings subsidiary RH Capital Two has signed an agreement to acquire a freehold residential site along River Valley Road for $110 million, the group announced on Monday (7 August).
\nLocated about 200m from the upcoming Great World City MRT station on the Thomson-East Coast Line, the vacant lot has a land area of 28,798 sq ft and an existing plot ratio of 2.8 under the 2014 Master Plan.
\nSEE ALSO:\u00a0Roxy-Pacific net profit down 26% in Q2
\nRoxy-Pacific intends to develop the site into a high-rise apartment block of over 100 units, and is expected to launch the project in Q3 2018.
\nResponding to our queries, a spokesperson for the developer said: \u201cThe acquisition was premised on the company\u2019s view that prime properties are currently undervalued and is in a recovery cycle.\u201d\u00a0
\nThe cost of the acquisition will be financed by internal funds and bank borrowings, and is not expected to have a material impact on the group\u2019s consolidated earnings and net tangible assets per share of the company for the current financial year ending 31 December.\u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Roxy-Pacific buys freehold River Valley site for 0m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of the vacant lot, which is expected to be developed into an apartment project...<\/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-63048","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-goU","jetpack-related-posts":[{"id":68042,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-buys-freehold-sites-in-geylang-for-33-5m\/","url_meta":{"origin":63048,"position":0},"title":"Roxy-Pacific buys freehold sites in Geylang for $33.5m","date":"October 3, 2017","format":false,"excerpt":"\r RH Guillemard has entered into agreements to purchase freehold residential sites at 2 and 6 Guillemard Lane. (Photo: Google Maps) Roxy-Pacific Holdings subsidiary RH Guillemard has entered into agreements to acquire freehold residential sites at 2 and 6 Guillemard Lane in Geylang for a total of $33.5 million. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26153,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-buys-another-site-at-jalan-eunos\/","url_meta":{"origin":63048,"position":1},"title":"Roxy-Pacific buys another site at Jalan Eunos","date":"September 15, 2016","format":false,"excerpt":"\r The developer plans to amalgamate the site with an adjoining freehold site that was previously acquired for residential development.\u00a0 RH Eunos, a unit of property developer Roxy-Pacific Holdings, has agreed to purchase a freehold residential site at Jalan Eunos for $10.978 million. Comprising lots at 180,182 and 184 Jalan\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62402,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-net-profit-down-26-in-q2\/","url_meta":{"origin":63048,"position":2},"title":"Roxy-Pacific net profit down 26% in Q2","date":"August 1, 2017","format":false,"excerpt":"\r Artist\u2019s impression of LIV on Sophia, an apartment project that is expected to be completed in 2018. Roxy-Pacific Holdings saw its net profit drop 26 percent to $14.7 million in Q2 2017 from $19.9 million over the same period last year. Revenue also declined 21 percent from $98.4 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79844,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-to-launch-six-sites-for-sale-in-2018\/","url_meta":{"origin":63048,"position":3},"title":"Roxy-Pacific to launch six sites for sale in 2018","date":"February 14, 2018","format":false,"excerpt":"\r Roxy-Pacific bought Harbour View Gardens for $33.25 million in 2016. (Photo: Colliers International) Roxy-Pacific Holdings reported a revenue of $43.3 million during the fourth quarter of 2017, down 53 percent from $93.1 million over the same period in 2016. Net profit also fell 39 percent to $7.3 million from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24587,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-inks-deal-to-buy-harbour-view-gardens-for-33-25m\/","url_meta":{"origin":63048,"position":4},"title":"Roxy-Pacific inks deal to buy Harbour View Gardens for $33.25m","date":"September 1, 2016","format":false,"excerpt":"\r Completed in 1986, Harbour View Gardens comprises 14 three-storey walk-up apartments. (Photo: Colliers International) RH Developments, a subsidiary of property developer Roxy-Pacific Holdings, has secured an agreement to buy the 14-unit Harbour View Gardens condominium at Pasir Panjang Road for $33.25 million, revealed the company in an SGX filing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74510,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/derby-court-sold-to-roxy-pacific-unit-for-73-88mil\/","url_meta":{"origin":63048,"position":5},"title":"Derby Court sold to Roxy-Pacific unit for $73.88mil","date":"December 14, 2017","format":false,"excerpt":"\r Third time\u2019s a charm for Derby Court, which was sold for $73.88 million to Roxy-Pacific subsidiary, RH Developments Two Pte Ltd. Based on the development\u2019s \u201cas built\u201d gross plot ratio of 2.872, the sale price translates to a land rate of around $1,390 psf per plot ratio, said Tan\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\/63048"}],"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=63048"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/63048\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=63048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=63048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=63048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}