&bull The Place Holdings to co-invest, develop and acquire a 20% equity stake in MCC Land&rsquo s new mixed development project located right next to Tanah Merah MRT interchange

&bull The 99-year lease land parcel was acquired by MCC Land for $248.99 million in November 2020 after a government tender that drew 15 bids from various developers

&bull The project has a site area of 8,880 square metres and can potentially yield 265 condo units and 2,000 square metres of commercial space

 

Singapore, 3 January 2021 &ndash The Place Holdings Limited (&ldquo The Place Holdings&rdquo , the &ldquo Company&rdquo or &ldquo 天 阶 控 股 &rdquo and together with its subsidiaries, the &ldquo Group&rdquo ), is pleased to announce that it has entered into a Shareholders&rsquo Agreement with MCC Land (Singapore) Pte. Ltd. (&ldquo MCC Land&rdquo ) and Ekovest Development (S) Pte. Ltd. (&ldquo Ekovest&rdquo ) to jointly develop a new mixed development project located right next to Tanah Merah MRT interchange.

 

Under the Shareholders&rsquo Agreement, the Group will acquire a 20% equity stake in the project company that is developing the mixed development project. MCC Land and Ekovest will take a 51% and 29% equity stake respectively.

 

In November 2020, MCC Land won the site tender at Tanah Merah Kechil Link with its bid of S$248.99 million after a government tender that drew 15 bids from various developers.

Slated for residential with commercial use on the first storey, the 99-year lease land parcel has an area of 8,880 square metres and can potentially yield 265 condo units and 2,000 square metres of commercial space.

 

Recently, The Place Holdings and MCC Land established a strategic framework agreement to build a long term and mutually beneficial relationship in relation to potential and upcoming construction and development of residential and commercial property projects, projects management, as well as development and management of cultural tourism projects.

Under the leadership of Executive Chairman, Mr Ji Zenghe (吉 增 和 ) and Chief Executive Officer, Mr Fan Xianyong (樊 献 勇 ) and combined with their deep property development experience and long-standing business track record, The Place Holdings has transformed its business model to 3 core business pillars that include property development and property management activities, cultural tourism and related &ldquo new retail&rdquo businesses as well as integrated media-related businesses.

 

Commenting on this new property development project, Mr Ji Zenghe, Executive Chairman of The Place Holdings, said, &ldquo We are always exploring initiatives to improvise the development of our businesses, including partnering with reputable, like-minded developers like MCC Land, who is one of the top developers and builders in Singapore.

 

 

&bull   The Place Holdings to co-invest, develop and acquire a 20% equity stake in MCC Land&rsquo s new mixed development project located right next to Tanah Merah MRT interchange

 

Singapore, 3 January 2021 &ndash The Place Holdings Limited (&ldquo The Place Holdings&rdquo , the &ldquo Company&rdquo or &ldquo 天 阶 控 股 &rdquo and together with its subsidiaries, the &ldquo Group&rdquo ), is pleased to announce that it has entered into a Shareholders&rsquo Agreement with MCC Land (Singapore) Pte. Ltd. (&ldquo MCC Land&rdquo ) and Ekovest Development (S) Pte. Ltd. (&ldquo Ekovest&rdquo ) to jointly develop a new mixed development project located right next to Tanah Merah MRT interchange.

 

Under the Shareholders&rsquo Agreement, the Group will acquire a 20% equity stake in the project company that is developing the mixed development project. MCC Land and Ekovest will take a 51% and 29% equity stake respectively.

 

In November 2020, MCC Land won the site tender at Tanah Merah Kechil Link with its bid of S$248.99 million after a government tender that drew 15 bids from various developers.

Slated for residential with commercial use on the first storey, the 99-year lease land parcel has an area of 8,880 square metres and can potentially yield 265 condo units and 2,000 square metres of commercial space.

 

Recently, The Place Holdings and MCC Land established a strategic framework agreement to build a long term and mutually beneficial relationship in relation to potential and upcoming construction and development of residential and commercial property projects, projects management, as well as development and management of cultural tourism projects.
 

Under the leadership of Executive Chairman, Mr Ji Zenghe (吉 增 和 ) and Chief Executive Officer, Mr Fan Xianyong (樊 献 勇 ) and combined with their deep property development experience and long-standing business track record, The Place Holdings has transformed its business model to 3 core business pillars that include property development and property management activities, cultural tourism and related &ldquo new retail&rdquo businesses as well as integrated media-related businesses.

 

Commenting on this new property development project, Mr Ji Zenghe, Executive Chairman of The Place Holdings, said,  &ldquo We are always exploring initiatives to improvise the development of our businesses, including partnering with reputable, like-minded developers like MCC Land, who is one of the top developers and builders in Singapore.