Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
Back in September 2025, the subsidiary HPF had actually exercised the option to buy the balance of the lease of the property, settling a deposit of $559,520 to the seller, Chutex Holdings. The balance factor to consider of $13.29 million was to be paid upon finish of the deal.
The acquisition rate remains in line with the independent evaluation of $14 million.
Poh Soon Keng, executive chairman and chief executive officer of the group, claimed: “Industrial properties such as this set support our core engineering and working needs, while the more lettable space gives a steady revenue stream that goes well with the project-based profits from our various other organization sections.”
The leasehold residential or commercial property has a 60 years lease term granted by JTC, commencing from February 1984. It covers an acreage of 2,652 sq m (28,547 sq ft) and a built-up area of about 6,618 sq m (71,236 sq ft).
This is the group’s third industrial property purchase. In October 2023, Aedge completed the acquisition of 9 Tuas South Street 11, called Amethyst House. Across virtually 80,000 sq ft of land, it serves as added warehouse area supporting the growth of the engineering business and now likewise houses a 299-bed secondary employees’ dorm room.
” At a suitable opportunity in the future”, Aedge will additionally explore property improvement efforts to repurpose the structure to match the team’s future requirements.
HPF Holdings, a 51%- managed subsidiary of Aedge Group, has completed the acquisition of the industrial building situated at 219 Kallang Bahru for $13.99 million.
This was complied with by the procurement of 4 Tuas South Street 11, called Beryl House, in November 2024. Settling on a 107,643 sq ft site, this consists of a four-storey single-user detached warehouse and a 408-bed secondary dormitory, according to Aedge’s website.
This is part of the team’s long-term expansion plan to expand and generate recurring income, according to a June 30 bourse declaring by Aedge. The Singapore-listed company gives engineering, security, workers, and transportation services, and also leases out its investment properties for leasing revenue.
In its latest declaration, Aedge noted that this purchase deepens its existence in recurring-income real estate.
The 219 Kallang Bahru property will be generally for the group’s very own usage, with the remaining room tenanted out for recurring revenue.
