Singapore's Hong Fok secures 673 mln sgd financing to redevelop property
Published : Mon, 09 Jul 2007 11:41
By : Agencies
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SINGAPORE (Thomson Financial) - Hong Fok Corp Ltd said it has secured a 673 million Singapore dollar loan from Oversea-Chinese Banking Corp and United Overseas Bank to refinance existing debt and redevelop The Concourse, an office and commercial building on Beach Road.
The company said it has been granted provisional approval to undertake the redevelopment, which involves the redevelopment of existing retail space and serviced apartment into two new blocks of residential condominiums with an approximate gross floor area of 47,800 square meters.
(1 US dollar = 1.52 Singapore dollars)
TFN.Singapore@thomson.com
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