{"id":70718,"date":"2017-11-02T10:39:56","date_gmt":"2017-11-02T03:39:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-subsidiary-backs-out-of-jervois-road-site-acquisition\/"},"modified":"2017-11-02T11:06:13","modified_gmt":"2017-11-02T04:06:13","slug":"tiong-seng-subsidiary-backs-out-of-jervois-road-site-acquisition","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-subsidiary-backs-out-of-jervois-road-site-acquisition\/","title":{"rendered":"Tiong Seng subsidiary backs out of Jervois Road site acquisition"},"content":{"rendered":"


\nTiong Seng Holdings\u2019s subsidiary, TSky (Jervois), has exercised its right to rescind the option to purchase two freehold sites in Jervois Road.
\nThis 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 left-behind plots\u201d, explained Tiong Seng in an SGX filing.
\nZoned \u201cresidential\u201d, the sites are located in prime district 10, featuring a combined area of around 1,246.3 sq m (13,415 sq ft) and a gross plot ratio of 1.4.
\nIn a July announcement, Tiong Seng revealed that TSky (Jervois) had exercised the option to purchase the sites for $21 million and would also undertake their development.
\nTSky (Jervois) is Tiong Seng\u2019s 60:40 joint venture company with Arctic Sky Investment Pte Ltd, which is a wholly owned subsidiary of Ocean Sky International Limited.
\nTiong Seng does not expect the termination to materially affect the group\u2019s earnings per share and net tangible assets per share for the current financial year ending 31 December 2017.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Tiong Seng subsidiary backs out of Jervois Road site acquisition<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tiong Seng Holdings\u2019s subsidiary, TSky (Jervois), has exercised its right to rescind the option to...<\/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-70718","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-ioC","jetpack-related-posts":[{"id":61002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tiong-seng-jv-buys-two-residential-sites-for-s21mil\/","url_meta":{"origin":70718,"position":0},"title":"Tiong Seng JV buys two residential sites for S$21mil","date":"July 18, 2017","format":false,"excerpt":"\r \u00a0 A 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). With a combined area of about 1,246.3 sqm (approx.\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":70718,"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":109292,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-treasures-to-launch-on-saturday-from-1-37m\/","url_meta":{"origin":70718,"position":2},"title":"Jervois Treasures to launch on Saturday from $1.37m","date":"July 24, 2019","format":false,"excerpt":"\r Jervois Treasures, Fragrance Group\u2019s luxury condominium project within the Tanglin area, is set for launch on Saturday (27 July) with prices starting from $1.37 million for a one-bedroom unit. Set for completion in March 2021, the five-storey condominium at Jervois Road features 36 units, comprising one- to three-bedders measuring\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64818,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-and-jervois-gardens-launched-for-sale\/","url_meta":{"origin":70718,"position":3},"title":"Amber Park and Jervois Gardens launched for sale","date":"August 29, 2017","format":false,"excerpt":"\r View of Amber Park, which is expected to be redeveloped into a high-rise project with sea views. (Photo: JLL) The collective sales market continues to roll on with two freehold residential developments \u2013 Amber Park and Jervois Gardens \u2013 launched for tender. Located along Amber Road in Katong, Amber\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123185,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-16-to-open-for-preview-on-saturday\/","url_meta":{"origin":70718,"position":4},"title":"Cairnhill 16 to open for preview on Saturday","date":"November 12, 2021","format":false,"excerpt":"\r Cairnhill 16 will launch on 27 November 2021, with\u00a0unit sizes ranging from 775 sq ft to 1,744 sq ft on sale. Source:\u00a0TSky Cairnhill 16,\u00a0a 39-unit luxury hilltop development in prime District 9, will open for preview on Saturday (13 November), while the official sales launch is set for 27\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/Cairnhill-16-.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":117074,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tsky-balmoral-offers-priced-to-sell-units-at-sloane-residences\/","url_meta":{"origin":70718,"position":5},"title":"TSky Balmoral offers \u201cpriced to sell units\u201d at Sloane Residences","date":"June 12, 2020","format":false,"excerpt":"\r These units have discounts between $100,000 and $123,000. With Singapore progressively phased to open following the extended circuit breaker, TSky Balmoral is offering \u201cpriced to sell units\u201d at Sloane Residences in District 10 to take advantage of the underlying demand in the property market. Launched on 2 June, TSky\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\/70718"}],"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=70718"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/70718\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=70718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=70718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=70718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}