HPC HOLDINGS (01742) announced that on March 27, 2026, its wholly-owned subsidiary, HPC Realty, along with partners LXP, CWT, and O2 Realty, entered into a joint venture agreement. Subject to approval at an extraordinary general meeting, HPC Realty and the other partners will jointly invest to establish a joint venture company.
The purpose of forming the joint venture is to undertake a redevelopment project in Singapore, with funding expected to be contributed by the joint venture shareholders. The company was incorporated and will be jointly held by HPC Realty and the other partners specifically for acquiring a property for the redevelopment project.
The business of the joint venture and its subsidiaries will be to hold the property and conduct any incidental activities related to its acquisition and redevelopment. The property consists of a land parcel located in the western part of Singapore, along with four existing single-story industrial buildings, covering a total land area of approximately 108,822.1 square meters.
Situated on Mukim 7 Lot 4706A in Singapore, the property includes the following addresses: (1) 10 Tuas South Street 1, Singapore 637466; (2) 20 Tuas South Street 1, Singapore 637465; (3) 30 Tuas South Street 1, Singapore 637464; and (4) 40 Tuas South Street 1, Singapore 637463. It is primarily used for industrial purposes.
The directors consider the acquisition of the property through the joint venture arrangement to be a highly attractive investment opportunity for the group. The property benefits from a strategic location adjacent to Tuas Port, which, upon its expected completion in the 2040s, is set to become the world's largest fully automated smart container terminal.
The site is within a 15-minute drive of Tuas West Road, Gul Circle, and Tuas Crescent MRT stations, and offers excellent road connectivity via the Ayer Rajah Expressway and Pan-Island Expressway. The company believes the property is situated in an emerging industrial hub with excellent redevelopment prospects and will attract businesses requiring robust infrastructure and convenient access to key logistics and industrial nodes.
The property is intended to be retained for further redevelopment, subject to obtaining necessary approvals, with plans to develop a new-generation hub for green logistics and industrial facilities. The board believes the redevelopment is expected to enhance the property's overall utility and competitiveness, potentially supporting value appreciation and improving its long-term commercial prospects after completion, thereby creating potential returns for the company and its shareholders.