Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
Back in September 2025, the subsidiary HPF had exercised the alternative to acquire the balance of the contract of the property, settling a deposit of $559,520 to the dealer, Chutex Holdings. The balance factor to consider of $13.29 million was to be paid upon finalization of the purchase.
Poh Soon Keng, exec chairman and chief executive officer of the team, stated: “Industrial real properties such as this help our core engineering and working demands, while the more lettable space provides a steady income stream that complements the project-based earnings from our various other business segments.”
” At a proper chance in the future”, Aedge will certainly likewise explore asset enhancement efforts to repurpose the establishment to match the group’s future demands.
This was adhered to by the acquisition of 4 Tuas South Street 11, named 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 supporting dormitory, according to Aedge’s website.
This is part of the team’s continued expansion strategy to diversify and create recurring earnings, according to a June 30 bourse filing by Aedge. The Singapore-listed company provides engineering, security, workforce, and transportation assistances, and also rents out its investment residences for rental income.
HPF Holdings, a 51%- acquired branch of Aedge Group, has completed the acquisition of the industrial establishment located at 219 Kallang Bahru for $13.99 million.
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 concerning 6,618 sq m (71,236 sq ft).
The 219 Kallang Bahru real estate will be primarily for the group’s own usage, with the standing space tenanted out for recurring revenue.
In its latest submission, Aedge noted that this purchase grows its visibility in recurring-income real estate.
This is the group’s 3rd commercial building purchase. In October 2023, Aedge carried out the acquisition of 9 Tuas South Street 11, named Amethyst House. Throughout almost 80,000 sq ft of land, it serves as added warehouse area supporting the growth of the engineering business and now also houses a 299-bed secondary employees’ dorm room.
The purchase price is in line with the private valuation of $14 million.
