SINGAPORE (EDGEPROP) - Singapore Exchange-listed Chuan Hup Holdings has announced that its wholly-owned subsidiary, Ventrade SG, has incorporated a new entity, Ventrade 3, to acquire a property at 24 Jalan Labu Manis for $7.15 million (excluding government taxes). Caveats lodged with URA show that the property is a detached house with a land area of 5,029 sq ft. The existing property on the site will be demolished and redeveloped into two semi-detached landed homes.

Development management services will be provided by project consultant BZL, an associated company of Brand New Land Group, which has a track record in boutique landed projects across Novena, East Coast, Serangoon, and Thomson. The acquisition and incorporation are funded internally and are not expected to materially impact Chuan Hup's financials for the year ending June 2026.

The board stated that the move will strengthen the group's footprint in Singapore's boutique landed home segment. No directors or controlling shareholders have any direct or indirect interest in the transaction, apart from their shareholdings.

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Chuan Hup's other property developments include The Neoco Bungalows