Fragrance Group acquires Geylang Road land for $31.6m

Fragrance Group says wholly-owned subsidiary, Fragrance Realty Pte Ltd, has entered into an agreement to acquire the property known as MK25 Lots 06219X and 06220K at Geylang Road for $31.55 million.

The development land has a freehold tenure with a total land area of 1,681.2 square meters. The development land can yield a maximum permissible gross floor area of 5,043.60 square meters.

Fragrance Group says it intends to develop a residential-cum-commercial building on the development land. The costs of the above acquisition and development will be financed by internal funds and bank borrowings.

Source : The Edge – 17 Sep 2010

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