Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
HPF Holdings, a 51%- owned subsidiary of Aedge Group, has finished the procurement of the industrial building situated at 219 Kallang Bahru for $13.99 million.
In its most current filing, Aedge noted that this procurement deepens its presence in recurring-income realty.
” At a proper chance in the future”, Aedge will certainly additionally explore asset enhancement efforts to repurpose the building to match the team’s future needs.
This is the group’s 3rd commercial building acquisition. In October 2023, Aedge completed the acquisition of 9 Tuas South Street 11, called Amethyst House. Across nearly 80,000 sq ft of land, it serves as extra warehouse room sustaining the development of the engineering business and now likewise houses a 299-bed secondary workers’ dormitory.
The 219 Kallang Bahru real estate will be mainly for the team’s own use, with the lasting area tenanted out for recurring earnings.
Back in September 2025, the subsidiary HPF had actually exercised the choice to purchase the balance of the contract of the property, paying a deposit of $559,520 to the dealer, Chutex Holdings. The balance factor to consider of $13.29 million was to be paid upon completion of the purchase.
The leasehold home has a 60 years lease term approved by JTC, beginning from February 1984. It extends an acreage of 2,652 sq m (28,547 sq ft) and a built-up area of regarding 6,618 sq m (71,236 sq ft).
This is part of the group’s continued growth plan to branch out and produce recurring income, according to a June 30 bourse filing by Aedge. The Singapore-listed business offers engineering, security and safety, manpower, and transportation services, and also contracts out its investment real properties for rental revenue.
Poh Soon Keng, exec chairman and CEO of the group, said: “Industrial real properties such as this set help our core engineering and operational needs, whilst the additional lettable area provides a steady income stream that complements the project-based profits from our various other service sectors.”
The purchase cost is in line with the independent assessment of $14 million.
This was adhered to by the purchase of 4 Tuas South Street 11, called Beryl House, in November 2024. Settling on a 107,643 sq ft site, this includes a four-storey single-user detached warehouse and a 408-bed supporting dormitory, according to Aedge’s website.
