Wee Hur forms JVs for Upper Thomson development

WH Property will hold a 50% shareholding percentage.

Wee Hur Property Pte. Ltd. (WH Property) has entered joint ventures (JVs) with six other firms for a residential and commercial project in a land parcel at Upper Thomson Road.

WH Property entered JVs with GSC Holdings, TKS International Investment Pte. Ltd., Capital Development Pte. Ltd., Thomson Invesco Pte. Ltd., ARA (ECO)(26CB) Pte. Ltd., and TBP Thomson A Pte. Ltd., according to a bourse filing.

The JVs will be known as Wee Hur Thomson Residential Pte. Ltd. and Wee Hur Thomson Commercial Pte. Ltd, it added.

The JVs proposed a single, integrated residential with commercial at the first storey development to be built on the Upper Thomson land parcel.

The incorporation of each of the developers is expected to be completed shortly, the filing added.

The companies will hold 4,000,000 ordinary shares in the commercial and residential JVs, according to the filing. WH Property will hold a 50% shareholding percentage whilst the six other firms will hold the remaining 50% in both ventures.

GSC Holdings holds shares in WH Property whilst the other JV partners do not.

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