LHN (01730) issued an announcement. On April 9, 2024, the company's indirect wholly-owned subsidiary, Coli...
Zhitong Financial App News, LHN (01730) announced that on April 9, 2024, the company's indirect wholly-owned subsidiary Coliwoo Holdings and joint venture partner Macritchie Developments Pte. Ltd. has formed a new joint venture. On the same day, Coliwoo Holdings, the joint venture partner and the joint venture company signed a joint venture agreement containing the joint venture arrangement for the joint venture.
The joint venture was formed to acquire the property, which is located at 50 Armenian Street, Wilmer Place Singapore 179938. As of the date of this announcement, the joint venture was granted a purchase option to purchase the property, but that option has not been exercised. The property is currently used for office use, and there are shops on the ground floor.
The signing of a joint venture agreement and the proposed establishment of a joint venture under the joint venture agreement will enable the Group to expand the supply of co-living properties in its space-optimized business segment and further enhance the brand value of the Group COLIWOO.