Aedge subsidiary buys 219 Kallang Bahru industrial building for $13.99 mil
The acquisition price remains in line with the independent appraisal of $14 million.
This is the group’s third industrial property acquisition. In October 2023, Aedge finished the acquisition of 9 Tuas South Street 11, named Amethyst House. Throughout nearly 80,000 sq ft of land, it works as additional warehouse space supporting the development of the engineering business and now additionally houses a 299-bed secondary employees’ dormitory.
The 219 Kallang Bahru property will be mostly for the group’s own use, with the remaining area tenanted out for recurring earnings.
Back in September 2025, the subsidiary HPF had exercised the choice to buy the balance of the contract of the property, settling a deposit of $559,520 to the seller, Chutex Holdings. The balance factor to consider of $13.29 million was to be paid upon finalization of the purchase.
In its latest declaration, Aedge indicated that this procurement deepens its presence in recurring-income property.
Poh Soon Keng, exec director and CEO of the group, stated: “Industrial properties such as this support our core engineering and operational demands, while the additional lettable room gives a steady income stream that goes with the project-based earnings from our various other service sections.”
” At a proper opportunity in the future”, Aedge will certainly also explore property enhancement campaigns to repurpose the building to suit the team’s future needs.
HPF Holdings, a 51%- acquired subsidiary of Aedge Group, has actually completed the acquisition of the industrial building located at 219 Kallang Bahru for $13.99 million.
This was adhered to by the purchase 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 supporting dormitory, according to Aedge’s website.
The leasehold property has a 60 years lease term given 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 concerning 6,618 sq m (71,236 sq ft).
This becomes part of the team’s continued growth plan to expand and create recurring revenue, according to a June 30 bourse filing by Aedge. The Singapore-listed business provides engineering, security and safety, workers, and transport assistances, and also leases out its investment real properties for leasing revenue.
