Ho Bee Land's Arm Acquires Development Site in Australia for AU$319 Million

MT Newswires

01/26

Ho Bee Land's (SGX:H13) subsidiary, Elimbah Land, agreed to acquire a development site in Queensland, Australia, for AU$318.5 million, according to a Monday filing with the Singapore Exchange.

The 181.36-hectare site is expected to accommodate around 1,400 residential lots and 64 business and industrial lots once completed.

The company has made an initial deposit of AU$10 million upon execution of the contract of sale, as the company looks to expand across key markets in Australia.

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