Thursday, September 22, 2011

Heeton, TEE Intl, KSH and Oxley

Heeton, TEE Intl, KSH and Oxley: Heeton (35%) , KSH (35%), TEE Intl (20%) and private co Zap Piling (10%) have formed a consortium. The consortium has acquired a 35% stake in Oxley Viva with remaining 65% owned by Oxley Holdings.

Oxley Viva also won a tender for all the units in a collective sale for Hong Leong Garden Shopping Centre at price $171.1m. The property has leasehold tenure of 956 yrs from 27 May 1928 with site area of 150.8k sf. It currently comprises 72 residential units and 66 commercial units. The site has the potential to be redeveloped to a max GFA of 262.8k sf assuming the state land beside is consolidated.

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