Hong Fok's (SGX:H30) wholly owned subsidiary, Super Homes, has exercised options to purchase five units at the 360 Orchard Road International Building in Singapore for a total SG$27.8 million, excluding GST, according to a Wednesday filing on the Singapore Exchange.
The acquisition includes three units for SG$16.6 million and two units for SG$11.2 million, which will be bought from two undisclosed vendors, the filing said.
The deal, expected to be completed by February 2025, will give the group full ownership of the International Building units. The acquisition will be funded through internal resources and external borrowings.
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