SINGAPORE - RPV Assets, the wholly owned subsidiary of Roxy-Pacific Holdings, will acquire freehold residential site at 120, Grange Road for S$48.5 million, according to a release issued on Thursday (Nov 24).

The site has an estimated total land area of 15,780 sq ft and an existing plot ratio of 2.1 for residential apartment development, the release added.

The cost of the acquisition will be financed by internal funds and bank borrowings.

Subsequent to the acquisition, RPV Assets will change its name to RH Orchard Pte Ltd, the release added.