Oxley-Lian Beng-KSH consortium wins Rio Casa tender at $575 mil

SINGAPORE (May 25): A consortium led by Oxley, Lian Beng and KSH has won the tender for the collective purchase of the property known as Rio Casa for $575 million. The tender was submitted by Oxley-Lian Beng Venture on Wednesday and has been duly accepted by the owners of the property located at Hougang Avenue 7.

Oxley-Lian Beng Venture is 35% owed by Oxley, 35% owned by KSH, 20% owned by Lian Beng and 10% owned by Apricot Capital. The property is a former HUDC estate which has been privatised. The site area is 36,811.1 sqm.

Oxley-Lian Beng Venture intends to apply for the grant of a fresh 99-year lease for the property and to redevelop the property.

---

Related Stories

• Oxley Holdings to enter hotel management agreement with Langham Hospitality Group
• Oxley Holdings subsidiary to sell 30% interest in luxury hotel at Oxley Towers KLCC
• Merchants of Venice: Venetian properties bought via tender create controversy for Oxley's Ching

---