KSH in JV to develop Mergui Rd site

KSH in JV to develop Mergui Rd site

 

Property-linked KSH Holdings Limited on Monday said it has entered a joint venture with Multi Wealth Singapore Pte Limited and LBH Pte Ltd to develop a freehold site at Mergui Road.

 

The 74,355 sq ft site with a plot ratio of 2.8 was bought by Mergui Develpment Pte Ltd — a unit of KSH — last November for $120 million.

 

Under the agreement, KSH will own 35 per cent stake in the JV, Multi Wealth 53 per cent and LBH 12 per cent.

 

Multi Wealth is a unit of Malaysian-listed IOI Properties Bhd. — BT newsroom

 

Source: Business Times

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