SINGAPORE - Property developer Tee Land announced that Development 35, a unit which it owns 51 per cent of, completed the acquisition of a property at 20 Lorong 35 in Geylang on Monday (July 11).

The site was bought for S$20 million and has an area of about 1,115 sq m.

Development 35 plans to build a block of residential flats and this is subject to approval from the relevant authorities.

The acquisition is not expected to have any material impact on the net tangible assets per share and earnings per share of the group for the current financial year ending May 31 next year.