Ho Bee Land sets up Australian joint ventures, buys Western Australia housing site

SGX Filings

Aug 04

Ho Bee Land Limited said on Aug, 04 2026 that it has entered two separate joint ventures with Satterley Property Group to expand its residential development pipeline in Australia.

The first partnership involves Elimbah Land JV Pty Ltd, a 50:50 vehicle between Ho Bee’s subsidiary Elimbah Land Pty Ltd and Satterley Elimbah Pty Ltd. The venture will develop a 181.36-hectare master-planned estate in the City of Moreton Bay, Queensland, earmarked for about 1,400 residential lots and 64 mixed business and industrial lots.

Separately, the company’s unit HBL WA Pty Ltd has teamed up with Satterley Dianella Pty Ltd to form Dianella JV Pty Ltd, in which Ho Bee Land holds an effective 48.6 per cent stake. This entity has acquired a 12.1-hectare infill site in Dianella, near Perth’s central business district, for 48.5 million Singapore dollars. The land is planned for roughly 180 residential lots.

Ho Bee Land said the transactions support its strategy of geographic diversification within Australia while leveraging Satterley’s local expertise. The investments, to be funded through a mix of internal resources and bank borrowings, are not expected to materially affect the group’s earnings or net tangible assets per share for the year ending Dec, 31 2026.

The company added that none of its directors or controlling shareholders has any direct or indirect interest in the deals beyond their shareholdings in Ho Bee Land.

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