Wee Hur Holdings said it plans to buy a 70 per cent stake in the Villas@Gilstead development for S$9 million.
It said the proposed acquisition is in line with its growth strategy to diversify into the property development business.
Villas@Gilstead is a residential property project at Gilstead Road, near Novena MRT station.
It is a strata housing development comprising 10 semi-detached houses, 6 terrace houses and 2 bungalows.
It is around 50 per cent sold and is expected to obtain Temporary Occupation Permit (TOP) in the third quarter of 2011.
Source: Channel News Asia, 29 Sep 2009