Wee Hur Holdings’ subsidiary has been awarded the tender for the land parcel at Upper Thomson Road by the URA at a sale price of $614 million.
Wee Hur’s subsidiary, Wee Hur Property, was awarded the tender together with GSC Holdings. The land parcel has a lease term of 99 years.
The two will form joint venture companies in Singapore to acquire and develop the land parcel, which is a development expected to comprise residential units with complementary commercial components.
Shares in Wee Hur closed 1 cent lower or 1.379% down at 71.5 cents on Nov 5.
