The Commodore is a new launch condominium developed by Oasis Development Pte Ltd, which is a joint venture between JBE Holdings Pte Ltd and Singapore Exchange listed Keong Hong Holdings Limted. JBE Holdings Group is the main portion holder with 80% stake in the company because this developer won the tender with their bid of $129.20 million for the land site. Before The Commodore, they have offered a wide porfolio of residential projects from prime private condos, executive condos or mixed-use development and landed houses. Developers focus on building sustainable and high quality home concepts through innovation to enrich the lives for residents. They have successful residential projects such as Signature at Yishun, The Luxe at Handy Road, Skypark Residences,... The Commodore is expected to be the residential condominium having the best of quality in the area.
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The Commodore By Oasis Development Pte Ltd
The Board of Directors of Keong Hong Holdings Limited (“Keong Hong” or the “Company” and
together with its subsidiaries, the “Group”) is pleased to announce that Keong Hong Construction Pte
Ltd (“KHC”), a wholly-owned subsidiary of the Company, had on 25 January 2013 entered into a Joint
Venture Agreement (“JV Agreement”) with JBE Holdings Pte. Ltd (“JBE”) for a joint development of an
Executive Condominium (the “Project”) located at Sembawang Crescent/Sembawang Drive, Lot No.
6037C MK13 (the “Land Parcel”). JBE was awarded the tender by the Housing Development Board
(“HDB”) for the Land Parcel in December 2012.
JBE group of companies has been principally involved in the property development business in
Singapore since 2004. Projects undertaken by JBE include Luxe Ville at Pasir Panjang Road, The
Luxe at Handy Road and 53 terrace houses in Sembawang.
Pursuant to the JV Agreement, a joint venture company known as Oasis Development Pte. Ltd. (the
“JVC”) has been set up to undertake the development of the Project. The issued and paid-up share
capital of the JVC will be S$1,000,000 comprising 1,000,000 ordinary shares to be held by the KHC
and JBE (“Joint Venture Partners”) in the following proportion