mr funny
30-10-09, 15:16
http://www.businesstimes.com.sg/sub/companies/story/0,4574,356934,00.html?
Published October 30, 2009
Aspial buys another residential site
ASPIAL Corporation said yesterday that it has agreed to buy a property at 26C Lorong Marzuki for $2.5 million.
The freehold site has an area of 281.1 square metres and is zoned for residential use with a 1.4 plot ratio.
Aspial previously bought two properties at 29 and 31 Lorong Melayu for $5.6 million in all.
Based on the combined maximum permissible area of around 1,795 sq m, the average purchase price for the three properties works out to about $459 per sq ft per plot ratio, inclusive of development charges.
Aspial intends to amalgamate the three plots to develop a 40-unit residential project.
The cost of the latest acquisition and development will be funded internally and through bank borrowings, Aspial said.
The transaction is not expected to have a material impact on the earnings or net tangible assets of the company in FY2009.
Published October 30, 2009
Aspial buys another residential site
ASPIAL Corporation said yesterday that it has agreed to buy a property at 26C Lorong Marzuki for $2.5 million.
The freehold site has an area of 281.1 square metres and is zoned for residential use with a 1.4 plot ratio.
Aspial previously bought two properties at 29 and 31 Lorong Melayu for $5.6 million in all.
Based on the combined maximum permissible area of around 1,795 sq m, the average purchase price for the three properties works out to about $459 per sq ft per plot ratio, inclusive of development charges.
Aspial intends to amalgamate the three plots to develop a 40-unit residential project.
The cost of the latest acquisition and development will be funded internally and through bank borrowings, Aspial said.
The transaction is not expected to have a material impact on the earnings or net tangible assets of the company in FY2009.