Hiap Hoe acquires 130 Stirling Street, Perth for A$90m

Expands property portfolio in Western Australia.

Singapore Mainboard-listed real estate group Hiap Hoe Limited (Hiap Hoe) announced a A$90 million purchase for 130 Stirling Street, an A-grade commercial building located on a 5,033 sq m site north of Perth’s central business district.

Mr Teo Ho Beng, Hiap Hoe’s Executive Chairman and Chief Executive Officer, said, “It is our strategy to selectively acquire quality, well-located land sites with excellent investment prospects that are able to generate greater returns for our shareholders. Following the success of our three earlier acquisitions in Melbourne, we are pleased to further expand Hiap Hoe’s presence into Western Australia with the inclusion of 130 Stirling Street in our real estate portfolio.”

With the acquisition of 130 Stirling Street, Hiap Hoe’s portfolio of investment properties in Australia now include three quality assets in Melbourne and one in Perth. Hiap Hoe also owns the landmark Zhongshan Park Integrated Development in Singapore.

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