SINGAPORE (Aug 7): Roxy-Pacific Holdings says its subsidiary, RH Capital Two, has entered into an agreement to acquire a freehold residential site situated along River Valley Road at the purchase price of $110 million.

The freehold residential site has a total land area of 28,798 sf and an existing plot ratio of 2.8 under the 2014 Master Plan for residential apartment development.

Roxy-Pacific says the cost of the acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on the group’s consolidated earnings and net tangible assets per share of the company for the current financial year ending December.

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