Reclaims Global is set to acquire a freehold commercial property located at 291 Serangoon Road for $38.8 million.
The Catalist-listed company, which is an integrated service provider within the construction industry, intends to use this property as an investment.
The freehold commercial building is six storeys high with a basement carpark and has a gross floor area of 506.8 sqm.
The group plans to redevelop the building to improve efficiency and increase net lettable area.
Shares in Reclaims Global closed flat at 39 cents on Dec 1.
