Koh Brothers buys Florence Rd site
KOH Brothers Group yesterday said it has acquired a 12,900 sq ft freehold site at Florence Road, near Kovan MRT, for $5.2 million. The price includes a development charge of about $1.5 million. The acquired site is adjacent to two freehold plots already owned by Koh Brothers.
The amalgamated land area is 22,400 sq ft, and the land has a 1.4 plot ratio, giving it a gross floor area of 31,400 sq ft. Koh Brothers said the company intends to develop the site into a five-storey residential project with 32 homes averaging around 1,000 sq ft each.
Francis Koh, executive director of Koh Brothers subsidiary Koh Brothers Development Pte Ltd, which bought the site, said: ‘We will continue to stay focused in our strategy of developing quality lifestyle-and-theme concept projects that appeal to home seekers.’
Koh Brothers’ shares closed 2.5 cents up at 48 cents yesterday.
Source : Business Times - 16 Jan 2007
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