Lum Chang to acquire One Tree Hill Gardens for $65 mil

SINGAPORE (May 5): Lum Chang Holdings has, through its subsidiary Lum Chang Auriga, exercised an option to purchase to buy 13 strata units and common areas in the freehold residential property, One Tree Hill Gardens, for a consideration of $65 million.

One Tree Hill Gardens is a three-storey residential development located at 12 One Tree Hill in Lot 1297X of TS24, where neighbouring developments comprise a mix of both landed housing as well as condominiums.

In a Friday aftermarket release, the property and construction group says its proposed acquisition is in line with its ordinary course of business, and is not expected to have a material impact on its financial results for the year ending June 30.

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