RH Capital, which is a subsidiary of Roxy-Pacific Holdings has finalized the acquisition of a plot of land estimated at $110 million. The plot is located along the River Valley Road. Roxy-Pacific Holdings will be developing a block of residential property on the site, which is reportedly situated about 200 meters from the Great World City MRT station that is currently under construction on the Thomson-East Coastline.
Roxy-Pacific will utilize the landed area of 28,798 sq ft to erect up to 100 units of high-rise residential apartments. It is a deliberate effort by the company to fully participate in the recovery of the prime properties’ prices, which have been undervalued since the subprime mortgage crisis hit the industry. RV Millenia freehold condo site and floor plans are available here
Roxy Pacific Holdings RV Millenia Freehold Condo Great World City Condo
The funds used in purchasing the plot of land was internally sourced, in addition to some bank borrowings. This, unexpectedly, will not produce any negative effects on the company’s net tangible assets per share and the Group’s consolidated earnings for the fiscal year ending on December 31. And the construction and sales of the buildings are scheduled to begin from the third quarter (Q3) of 2018. According to Roxy-Pacific executive chairman, Teo Hong Lim, the acquisition was estimated at $1,582 psf per plot ratio. River Valley Road has many upscale condominiums and RV Millenia condo is located at River Valley Road.
RV Millenia Site and Floor Plans at Great World City Shopping Centre
Roxy-Pacific Holdings RV Millenia have acquired three choice properties in recent week in its drive to boost its market share in the real estate industry. The freehold site along the River Valley Road, Lot 99606T of Town Subdivision 21 has a plot ratio of 2.8 in accordance with the Master Plan required for developing apartments for residential purposes. The plot can also allow a floor’s total gross area of 88,697 sq ft while allotting 10 percent area for the balcony.
As a successful company, Roxy-Pacific Holdings was listed on SGX Mainboard on 12 March 2008 and has been active in the Property Development industry for years, engaging in the development and sales of residential and commercial properties. The Group’s incomes have been solidified by the revenues from its famous hotel brand located in places such as Grand Mercure Singapore Roxy and Katong. It also receives revenues from some self-managed boutique hotels located in Japan with a brand name, Noku Roxy in cities such as Kyoto and Osaka.
RV Millenia Site and Floor Plan by Roxy Pacific Homes
Roxy-Pacific specifically specializes in developing apartments and RV Millenia condo that could be described as small to medium in size. Its primary targets are middle to upper-middle-class homeowners. The Group has developed a total of 44 small-to-medium sized residential and commercial properties in countries such as Australia, Singapore, and Malaysia. This amount to a total of 4,300 units as this is most important ever to a number of people who are well known. RV Millenia is located at Great World City River Valley Road and is near to Great World City MRT Station.
The Group also invests in some commercial properties. It owns 52 retail shops/stores in Singapore known as The Roxy Square Shopping Centre. The company has a 50% stake in a 14-story freehold edifice in Australia, and another 50% equity in a building located in New Zealand. Roxy-Pacific has a firm business foundation in the Asia-Pacific region, and its executives have since been working tirelessly to extend their holdings to North America in a wave of new ground-breaking acquisitions.