Ho Bee Land Limited announced that its wholly owned subsidiary, Elimbah Land Pty Ltd, has agreed to acquire a 181.36-hectare master-planned development site in the City of Moreton Bay, Queensland.

The parcel, located along a key growth corridor with direct access to the Bruce Highway, is expected to support about 1,400 residential lots and roughly 64 mixed business and industrial lots upon completion.

The purchase price is 318.5 million Singapore dollars, with an initial deposit of 10 million Singapore dollars paid at signing and the balance to be settled in stages tied to agreed milestones.

Ho Bee Land said the acquisition will be funded through internal resources and bank borrowings and is not expected to have a material impact on the group’s consolidated earnings or net tangible assets per share for the year ending Dec, 31 2026.

The company stated that the transaction aligns with its strategy of building a large-scale, long-term land bank in its key Australian markets.