Ocean Sky International’s wholly-owned subsidiary Suntex Investment Co. Ltd leases out land in Cambodia to generate rental income under a 20-year long-term fixed rental rate land lease which commenced in January 2013.
Pacific Sky Investment, a wholly-owned subsidiary of Ocean Sky International, together with its joint partners CIAC Investment and Centra Properties, announced in April 2017 that they will jointly acquire, develop and manage a proposed 71 units of shop house development project. Located in Kandal Province, Cambodia, the proposed project, Eco Garden Mall, is sited on a freehold land area of 9,185 square metres owned by CIAC Investment.
In May 2017, Ocean Sky International, through its wholly owned subsidiary Atlantic Sky Investment, acquired a 999-year leasehold property at 6 Nim Drive, Singapore. Spanning 456 square metres, the property is to be redeveloped for sale.
Adding to its growing portfolio of residential developments, Ocean Sky International, through its wholly-owned subsidiary Arctic Sky Investment, entered into a joint venture agreement with Tiong Seng Holdings in July 2017 to develop two freehold sites located in prime District 10 – Jervois Road. With a combined site area of approximately 1,246 square metres and a residential-zoned gross plot ratio of 1.4, the new development is a significant step forward for Ocean Sky International’s property development and investment business.