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 commercial property situated at 219 Kallang Bahru for $13.99 million.
Poh Soon Keng, executive director and chief executive officer of the team, stated: “Industrial estates such as this one support our core engineering and operational demands, whilst the added lettable area supplies a steady income stream that complements the project-based income from our other business sections.”
” At a proper option in the future”, Aedge will likewise explore asset improvement campaigns to repurpose the establishment to match the group’s future needs.
The acquisition cost remains in line with the private valuation of $14 million.
This belongs to the group’s continued expansion strategy to diversify and produce recurring income, according to a June 30 bourse filing by Aedge. The Singapore-listed company provides engineering, safety and security, workforce, and transport assistances, and also leases out its investment real properties for rental earnings.
This was complied with 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.
Back in September 2025, the subsidiary HPF had actually exercised the choice to buy 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 finish of the deal.
The 219 Kallang Bahru real estate will be generally for the team’s very own use, with the lasting space tenanted out for recurring income.
In its latest filing, Aedge noted that this procurement strengthens its presence in recurring-income property.
This is the group’s third industrial building purchase. In October 2023, Aedge carried out the acquisition of 9 Tuas South Street 11, called Amethyst House. Across almost 80,000 sq ft of land, it serves as added warehouse space sustaining the growth of the engineering business and now likewise houses a 299-bed secondary workers’ dorm.
The leasehold residential or commercial property has a 60 years lease term provided by JTC, beginning from February 1984. It extends 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).
