A joint venture company formed by two SGX-listed property developers has made a cash offer to acquire LCD Global Investments. Aspial Corp and Fragrance Group formed a firm called AF Global to bid for the mainboard-listed company that operates high-end hotels, resorts and serviced residences in Asia and the UK. In a filing to the Singapore Exchange on Monday (Jan 12), AF Global has offered 33 cents per...
Fragrance Group
Novena Ville has been successfully sold in a collective sale exercise for S$131.5 million to property developer Fragrance Group. The sale price works out a land rate of S$1,730 psf per plot ratio. The land area is about 51,092 sq ft, and has a gross plot ratio (GPR) of 1.4 and an allowable height of up to four storeys. There is no development charge is payable for redevelopment. The freehold mixed-use...
Fragrance Group and World Class Land (WCL), the property development subsidiary of Aspial Corporation announced the incorporation of a special purpose company -- Bayfront Ventures -- on Tuesday. This is in conjunction with the proposed acquisition of Keypoint for S$360 million from British and Malayan Trustees, the trustee of Frasers Commercial Trust. Keypoint is a 25-storey commercial development...
Fragrance Group has announced that it is looking to spin off its hotel business with an eventual listing on the mainboard of the Singapore Exchange. In a statement on Thursday, the company said the time frame for the listing will depend on shareholders approval and prevailing market conditions. It added that in connection with the proposed listing, the Group has formed an investment holding company,...
The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Woodlands Avenue 2/Rosewood Drive to joint bidders Fragrance Group and Aspial Corporation. The consortium submitted the highest bid of about S$151.5 million, which translates to around S$3,952 per square metre. The plot has a site area of 27,380 square metres, and a maximum gross floor area of about 38,330 square...
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...
Mainboard-listed Fragrance Group has launched an integrated residential and commercial development along Changi Road. The development, called Suites & Icon @ Changi, is a freehold integrated five-storey building. The residential component of the development houses 44 units of apartments with sizes ranging from 409 to 1,152 square feet. The commercial component on the other hand, will comprise...
The tender by the Housing and Development Board (HDB) for the land site at Tampines Road has attracted a whopping total of 16 bids from property developers. This is higher than the 14 bids attracted from developers for the land site at Boon Lay Way and Lakeside Drive when its tender closed on Tuesday. Fragrance Properties submitted the highest bid of $16.25 million for the 99-year lease land parcel which...
Property developer Fragrance Group said its net profit rose 42.6 per cent on-year in the first quarter to S$14.4 million. But turnover fell 17.7 per cent to S$41.8 million due to lower contributions from its property development operations. However, this was partly offset by an increase in revenue contribution from its hotel business. Going forward, Fragrance said it intends to launch another two landed...
Fragrance Properties has bought the Culford Garden estate at Siglap for S$39 million in a collective sale. The price translates to a land rate of about S$574 per square foot per plot ratio at a Gross Plot Ratio of 1.54. The 24-unit Culford Garden has a land area of 44,094 square feet and is zoned for residential development with an allowable height of up to five stories. Each owner could get an average...