Tong Eng Group, Roxy-Pacific Holdings Limited and Kim Seng Holdings Pte Ltd
The three companies involved in the joint venture are – Tong Eng Group, Roxy-Pacific Holdings Limited and Kim Seng Holdings Pte Ltd, with the shareholding interest being 45%, 40% and 15% respectively.
Tong Eng and Roxy-Pacific are amongst Singapore’s most illustrious real estate developers, while Kim Seng Holdings is an investment firm.
Tong Eng Group
Since its inception in the 1950s, the award-winning Tong Eng Group (awarded for BCI Asia Top 10 Developer Awards 2018) has developed many condominium projects, office space, retail space as well as strata housing developments in Singapore.
The Group has its early roots in the business of electrolytic tinplates trading after the founders of Tong Eng Brothers, Teo Thye Chor and his younger brother, Teo Thye Hong, arrived in Singapore in the 1940s.
With Singapore in the throes of post-war rebuilding in the 1950s, the two brothers foretold a rise in demand for housing and decided to forge a way into real estate development.
After successfully developing a piece of land in Paya Lebar into an industrial estate, the brothers proceeded to acquire more land in the suburbs of Singapore for development.
The successes in real estate development at that time have led to Tong Eng Group developing a land area approaching 200 acres, and the construction of Tong Eng Building in the past 60+ years.
Tong Eng Group prides itself in the development of projects with a strong individualistic style, with great emphasis on the interior area being functional.
The Group is constantly active in the Singapore property market in the development of residential and commercial projects in Singapore, striving towards developing avant-garde and high quality properties through the implementation new technologies in the market and meticulous planning.
Some of the projects developed by Tong Eng Group are Trendale Tower, Treasure Place, Eminent Plaza, Serangoon Plaza and Poshgrove East, which is a 76-unit boutique development in Marine Parade.
The developer is currently marketing the cluster housing project of Belgravia Green, which was launched in Sep 2018. Belgravia Green is Phase 2 of the Belgravia Villas, which has successfully sold out Phase 1 of the cluster houses development. Tong Eng Group will launch a third plot of cluster housing (“Belgravia Villas Phase 3”) next to Belgravia Green in the near future. The cluster houses slated for marketing as “Belgravia Villas Phase 3” will be named as Belgravia Ace by Tong Eng.
Roxy-Pacific Holdings Limited
Roxy-Pacific, which is listed in the Singapore Exchange since 2008, is a real estate and hospitality group. With a history dating from 1967, the main business activities of Roxy-Pacific are the development of both residential and commercial properties and hotel ownership in the region of Asia-Pacific region.
Well-known as a prolific developer with a penchant of freehold sites acquisition and its ownership of the iconic Grand Mercure Roxy Hotel, Roxy-Pacific has built its reputation in the development of small to medium-sized residential projects, of which most are freehold.
Some of the current new launch projects developed by Roxy-Pacific include the recently launched District 9 freehold project RV Altitude at River Valley, Fyve Derbyshire, which is a freehold District 11 development located in Novena, the fast-selling Arena Residences, a freehold 98-unit development at Guillemard Crescent, and Neu At Novena, a freehold 85-unit project at 27 Moulmein Rise which is just 4 minutes walk to Novena MRT station.
Kim Seng Holdings Pte Ltd
Kim Seng Holdings Limited is an investment holding firm. Incorporated on 14 November 1985, it owns the shares of other companies for long term investment through its subsidiary companies.
With the vastly experienced developers of Tong Eng Group and Roxy-Pacific helming the development of the District 10 freehold condo, prospective buyers can look forward to a high quality Holland development within 1km of Nanyang Primary School in Wilshire Residences.
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