HG Metal Manufacturing's (SGX:BTG) subsidiary, HG Construction Steel, exercised an option to purchase a property in Singapore for SG$20.8 million, according to a Tuesday filing with the Singapore Exchange.

The option was granted by Hai Leck Engineering to acquire the property located at 47 Tuas View Circuit, Singapore, the filing said.

The leasehold industrial property comprises a three-story ancillary office building, two three-story production buildings and industrial development across a land area of around 24,163.8 square meters.

The completion of the acquisition is subject to the in-principle consent of JTC for the transfer of the property and JTC's approval.