BHCC Holding's (HKG:1552) Singapore subsidiary, BHCC Development (Projects), agreed to establish a special purpose company in Singapore with four other parties.
The joint venture company is to serve as the approved lessee and developer for a land parcel situated at Dairy Farm Walk, Singapore, in place of the JV partner.
The said land was acquired through a public tender. It has a site area of 21,881.8 square meters and a maximum allowed gross floor area of 45,951 square meters. The land is for residential use.
BHCC Development (Projects) will contribute SG$20 million to the JV company and own 10%.
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