Singaporean lifestyle property developer, Oxley Holdings Limited, (“Oxley” or “the Group”), has entered into a subscription and shareholders’ agreement to acquire a 20% stake in the enlarged share capital of Galliard (Group) Limited (“Galliard” of “Galliard Group”), a leading UK developer, for a total subscription price of GBP50,000,000.
Oxley’s Chairman & CEO, Mr Ching Chiat Kwong and Deputy CEO, Mr Low See Ching will be appointed as Investor directors to the board of Galliard Group. Mr Stephen Conway who is the founder of the Galliard Group, will continue as Chairman & CEO of the Galliard Group.
This strategic acquisition is important as the Group further strengthens its foothold in London. The partnership with Galliard Group will see Oxley capitalizing and leveraging on Galliard Group’s construction and property development expertise and network in UK in its business going forward.
Supported by Galliard Group’s vertically integrated business model, Oxley will have greater capacity and flexibility to market its London properties, manage its property construction and provide Oxley’s buyers with an added after-sales service in leasing their units.
The acquisition underlies efforts to ensure Oxley’s brand is better entrenched in the real estate market at large and thereby driving higher performance and enhancing profitability of the development.
Mr Ching Chiat Kwong, Chairman and CEO of Oxley, said, “This investment marks our strategic alliance in London with a leading well-established and reputable property developer – Galliard Group. We foresee significant synergistic collaboration with Galliard’s vertically integrated business model with that of Oxley. We look forward to leveraging this partnership in a variety of ways such as supporting our Royal Wharf construction of the remaining phases and hopefully complement our future developments in London.”
