Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
HPF Holdings, a 51%- managed branch of Aedge Group, has finished the purchase of the commercial property found at 219 Kallang Bahru for $13.99 million.
The leasehold residential or commercial property has a 60 years lease term provided by JTC, starting from February 1984. It covers a land area of 2,652 sq m (28,547 sq ft) and a built-up area of concerning 6,618 sq m (71,236 sq ft).
Poh Soon Keng, exec chairman and CEO of the group, claimed: “Industrial estates such as this set help our core engineering and operational needs, while the added lettable space offers a steady revenue stream that complements the project-based profits from our various other company sectors.”
Back in September 2025, the subsidiary HPF had exercised the option to buy the balance of the contract of the property, settling a deposit of $559,520 to the dealer, Chutex Holdings. The balance consideration of $13.29 million was to be paid upon finish of the transaction.
The purchase rate is in line with the independent evaluation of $14 million.
This is the group’s 3rd industrial property purchase. In October 2023, Aedge completed the acquisition of 9 Tuas South Street 11, called Amethyst House. Throughout virtually 80,000 sq ft of land, it works as additional warehouse area sustaining the development of the engineering business and now likewise houses a 299-bed secondary workers’ dorm room.
” At an appropriate chance in the future”, Aedge will certainly likewise look into property improvement efforts to repurpose the establishment to fit the team’s future needs.
In its newest filing, Aedge indicated that this purchase grows its visibility in recurring-income property.
The 219 Kallang Bahru property are going to be generally for the team’s own use, with the lasting room tenanted out for recurring earnings.
This was complied with by the acquisition of 4 Tuas South Street 11, called Beryl House, in November 2024. Sitting 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 becomes part of the team’s continued development program to branch out and produce recurring earnings, according to a June 30 bourse declaring by Aedge. The Singapore-listed firm supplies engineering, safety and security, workers, and transportation services, and also contracts out its investment properties for leasing revenue.
