UOL's JV Enters Joint Development Deed for Singapore Site

MT Newswires

02/10

UOL's (SGX:U14) 30% joint venture company, Horizon Residential, together with Horizon Commercial Trust, entered into a joint development deed for an integrated residential and commercial project at Hougang Central, Singapore, according to a Monday filing with the Singapore Exchange.

Shares of the property developer were down nearly 1% in Tuesday trading.

Singapore Land Group and Kheng Leong hold 10% each in Horizon Residential, while Horizon Commercial Trust is a sub-trust of CapitaLand Integrated Commercial Trust (SGX:C38U).

Under the deed, Horizon Residential will bear the costs of developing the residential component, while Horizon Commercial Trust will undertake the commercial component.

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