Thursday, May 18, 2006
[RealEdge] BT : Popular buys 8 residential units for redevelopment
| Published May 18, 2006  | |
| Popular buys 8 residential units for redevelopment POPULAR Holdings, an integrated business better known for its bookstores and publishing arms, has bought eight residential units with a total land area of 15,070 square feet at 1 Robin Road, Seng Mansion, the group announced yesterday. The property has the 'potential for redevelopment into a new apartment block with a total gross floor area of about 30,000 feet'. The purchase price is $12.5 million. The open market valuation of $12.5 million was done by Chesterton International Property Consultants. The purchase price and the proposed development will be financed by internal sources and bank loans. Popular's net tangible assets would have increased from $125.6 million to $138.1 million, or from 27.9 cents a share to 30.68 cents each, assuming the sale was completed on April 30, 2005. The purchase will have no impact on consolidated earnings per share for the financial year ended April 30, 2005. |
Real Estate News Provided Freely
YAHOO! GROUPS LINKS
- Visit your group "RealEdge" on the web.
- To unsubscribe from this group, send an email to:
RealEdge-unsubscribe@yahoogroups.com
- Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
