Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
HPF Holdings, a 51%- managed subsidiary of Aedge Group, has actually completed the acquisition of the industrial establishment situated at 219 Kallang Bahru for $13.99 million.
Poh Soon Keng, exec chairman and chief executive officer of the team, claimed: “Industrial properties such as this one assist our core engineering and working requirements, whilst the more lettable room provides a steady revenue stream that matches the project-based revenue from our various other service sectors.”
The purchase rate remains in line with the independent appraisal of $14 million.
” At a suitable option in the future”, Aedge will certainly likewise look into property enhancement initiatives to repurpose the building to suit the group’s future requirements.
Back in September 2025, the subsidiary HPF had exercised the choice to buy the balance of the lease of the property, settling a deposit of $559,520 to the company, Chutex Holdings. The balance factor to consider of $13.29 million was to be paid upon finalization of the transaction.
In its most recent filing, Aedge noted that this procurement deepens its existence in recurring-income realty.
The leasehold home has a 60 years lease term granted 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 regarding 6,618 sq m (71,236 sq ft).
The 219 Kallang Bahru property are going to be generally for the team’s own use, with the remaining room tenanted out for recurring revenue.
This is the group’s 3rd commercial building purchase. In October 2023, Aedge finished the acquisition of 9 Tuas South Street 11, called Amethyst House. Across almost 80,000 sq ft of land, it serves as additional warehouse space supporting the development of the engineering business and now likewise houses a 299-bed secondary employees’ dormitory.
This belongs to the team’s long-term development program to expand and produce recurring income, according to a June 30 bourse declaring by Aedge. The Singapore-listed business supplies engineering, safety and security, workers, and transport assistances, and also leases out its investment real properties for rental earnings.
This was adhered to by the acquisition of 4 Tuas South Street 11, named Beryl House, in November 2024. Settling 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.
