Forgot your password?

Don't have an account? Create An Account

For agents interested in participating on SRX, please contact us at +65 6635 3388 or write to us at


Achieve the life you want, in the home you love
Property News07 Jun 2018

HK-listed FEC acquires Singapore property

ST 20180607 BIZYOFAR07 4042150

Hot on the heels of other recent property dealings here in the prime district, Hong Kong-listed Far East Consortium International (FEC) has just acquired 21 Anderson Royal Oak Residence.

FEC's indirect wholly owned subsidiary, Advance Delight Global, has agreed to purchase all of the issued and paid-up capital of Highest Reach Investments, which owns the freehold, 34-unit site at 21 Anderson Road through its subsidiaries, it said in a statement yesterday.

FEC will pay about $93 million and assume Highest Reach's existing bank loan under a credit facility of approximately $103 million.

The seller is private equity giant Blackstone, acting through Amber Investment Holding (Cayman), which bought the property in late 2014 for approximately $164 million.

It is believed that Blackstone had intended to divest the site, which has a total gross floor area (GFA) of 87,000 sq ft, since 2016.

Mr Chris Hoong, managing director of FEC, said it intends to hold the site as an investment before potentially redeveloping it.

"This acquisition is a good opportunity for the group to replenish the land bank in Singapore, generating recurring cash flow before the redevelopment and adding to its overall development pipeline following the successful launch of Artra in 2017," he added.

The 400-unit Artra is a mixed-use development in Alexandra View that was launched about a year ago.

"FEC will continue to adopt the regionalisation strategy and expand residential pipeline in order to deliver long-term benefits to our shareholders," said Mr Hoong.

A consortium that included its unit, FEC Properties, last month clinched a 5,722.5 sq m residential Government Land Sales site in Cuscaden Road, at a bid of $410 million, to develop a luxury residential project.

Earlier this year, it also teamed up with locally listed Koh Brothers Group to acquire and develop the Hollandia and The Estoril collective sales sites for $183.38 million and $223.94 million respectively.

FEC shares yesterday closed one Hong Kong cent higher at HK$4.65.

Like this article? Share it.
mySG Home
Your Digital Home
Track Your Home. Discover Your Wealth
The free, personalized advice, advocacy, and guidance for buying or renting property in Singapore
Property News 22 October
Spanish Village goes en bloc again at same price
Home owners haven't abandoned their en bloc dreams just yet, with Spanish Village being the latest to take another crack at the market at the same price of S$882 million.
Property News 19 October
Single-storey detached house in Serangoon Gardens on sale for S$11.5m
"The site may also be attractive to multi-generational families who favour this location for its quaint surroundings as well as the abundance of amenities." - Suzie Mok, senior director of investment sales at Savills Singapore, on the 18/20 Berwick Drive house (above), that spans two adjoining lots.
Property News 19 October
New guidelines may price some buyers out of market: Redas
Some analysts maintain that the per sq ft price of new private apartments will have to drop if the absolute sale price of a unit with an increased floor area is to be kept affordable.
Property News 17 October
Home buyers willing to pay more for integrated projects
Convenience, scarcity among reasons cited; price premiums can go up to 19%: Report

Contact Us

Hello Singapore! I'm Sevi. Ask me any property question.
Chat with Sevi
Sevi - AI Bot
Replies in seconds
Need to speak to someone? 6635-3388
I'm Sevi, your personal assistant.

You can ask me basic property questions about transactions, listings, project info and X-value.

Some Examples:

1. Where is Gem Residences located?
2. Are there listings in Hillview Regency for 3 bedrooms and budget of $1.5m?
3. For how much can I sell my property?
4. What are the latest transactions in Bayshore Park?
5. Is it cheaper to buy HDB in Tampines or Jurong East?
6. What is the plot ratio for The Sail?
7. How many blocks are there in Ang Mo Kio Ave 3?

Type RESET or HELP whenever you need.