GUOCO GROUP (00053.HK): unit signs JV for Berlayar Drive site
- GLS, Intrepid and BDPL signed a JV agreement to develop the Berlayar Drive site on a 40:60 basis.
- The site was acquired from Singapore's URA for S$576,778,554 and is planned for up to 416 residential units.
NewTimeSpace News: On 4 November 2026, Guoco Group Limited (stock code: 00053) announced a connected transaction, saying GLS, a wholly-owned unit of subsidiary GuocoLand Limited, signed a JV agreement with Intrepid and B'LAYAR Development Pte. Ltd. ("BDPL") to develop the Berlayar Drive site in Singapore on a 40:60 basis.
The site was won by tender from Singapore's Urban Redevelopment Authority for S$576,778,554 (about HKD 3,536,806,093), with 25,263.2 sq m of land and up to 416 residential units planned. GLS will contribute S$83,038,075 (about HKD 509,189,482), including S$1.6 million of share capital and S$81,438,075 of shareholder loans. As Intrepid is a unit of HLHL, a subsidiary of HLIH, a substantial shareholder, the deal is a connected transaction; percentage ratios exceed 0.1% but are below 5%, so it is subject to reporting and announcement but exempt from independent shareholders' approval.
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