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Huationg Global Subsidiary to Develop SG$58 Million Dormitory on New Leasehold Land

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-- Huationg Global's (SGX:41B) subsidiary, One Changi, signed an agreement to acquire a 4,385 square meter leasehold estate in Singapore for an undisclosed fee, according to a Thursday filing with the Singapore Exchange.

Shares of the civil engineering services company were up over 1% in Friday trading.

The subsidiary plans to construct a purpose-built dormitory on the site, with an estimated gross floor area of approximately 7,000 square meters.

The estimated development cost for the dormitory is around SG$58 million, the filing said.

The move is part of the company's efforts to regrow its dormitory business.

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