The site has an estimated land area of 8,761 sq ft and has a plot ratio of 2.8 under the 2019 Master Plan for residential development.
SEE: AIMS APAC REIT to acquire Sime Darby Business Centre for $102 mil
Mequity Hills says it intends to combine 10A and 10B with another 999-year leasehold site at 11 Institution Hill after it exercises the Option to Purchase issued on Feb 1 to acquire the new site.
The amalgamated site will have an estimated total land area of 14,300 sq ft with a total gross floor area (GFA) of 40,040 sq ft for residential development.
The subscription of shares in Mequity Hills and the cost of the acquisition will be funded internally and through bank borrowings.
Scroll to continue
Shares in Roxy-Pacific closed flat at 35 cents on Feb 18.
