Tuan Sing unit to buy Westgate Tower for $600m

The 20-storey tower in Jurong comprises 295 Grade A offices.

Tuan Sing Holdings Limited’s wholly owned subsidiary Greenlane Land Pte. Ltd has signed an agreement to acquire Westgate Commercial Pte. Ltd. and Westgate Tower Pte. Ltd. for $600m.

The two companies collectively own 295 strata-titled office units in Westgate Tower, a 20-storey Grade A building at 1 Gateway Drive in the Jurong Lake District, Tuan Sing said.

The tower has a net lettable area of 305,000 square feet, with approximately 90% of the space leased or committed to tenants.

Tuan Sing CEO William Liem said the acquisition will strengthen the group’s income base and provide greater flexibility to manage the property and maximise its long-term value.

The transaction is expected to be completed on 1 December, or another date mutually agreed by both parties.

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