KUALA LUMPUR: Selangor Dredging Bhd
(SDB) has acquired 17 parcels of land in Singapore for S$60.26mil (RM180.04mil).
In a statement, SDB said it had entered into an agreement to purchase the lands via Tiara Land Pte Ltd, a 50% associated company of SDB International Sdn Bhd from individual land owners.
The developer added that the purchase of the land would be funded by both internally generated funds and bank borrowings.
Collectively the 17 parcels of land measures 17,949.15 sq ft and currently houses several buildings. It is located on Woodsville Close and Meyappa Chettiar Road, District 13, Singapore and is conveniently accessible being only 200 meters away from the Potong Pasir MRT station.
These parcels of land which will be amalgamated, are located close to amenities such as established schools, shopping and recreational facilities.
SDB first ventured into property development in Singapore in 2008, and now has developed five developments in Singapore, all of which were fully sold prior to completion.
The group subsequently purchased a parcel of land in Serangoon in December 2016 and another parcel in Draycott Park in June 2017. Both developments are expected to be launched within the next few months.
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