The Business Times
business-time-50

Suntec Reit sells Park Mall; strikes redevelopment JV

Property sold for S$411.8m; Reit takes 30% stake in JVCo

Mindy Tan

Mindy Tan

Published Mon, Jun 29, 2015 · 09:50 PM

    Singapore

    SUNTEC Real Estate Investment Trust is selling Park Mall to Park Mall Pte Ltd for S$411.8 million, said ARA Trust Management (Suntec), the manager of Suntec Reit, on Monday.

    The Reit acquired Park Mall, which is an integrated office, lifestyle and home furnishing mall situated within the Orchard Road shopping belt, in 2005 for S$245.1 million. The property is more than 40 years old, with a remaining land lease tenure of 53 years.

    Suntec Reit

    TRENDING NOW

    Related issues that LTA is also seeking feedback on are over COE renewals and Category E.

    LTA proposes combining car COE categories, adding rebate-surcharge system

    StarHub says the acquisition will allow greater scale to be directed towards sustained network investment, service innovation and customer experience. 

    StarHub to acquire MyRepublic’s mobile business amid ongoing telco consolidation

    All three local banks ended lower, with OCBC declining 4.3% or S$1.30 to S$29.

    DBS, OCBC, UOB rout lops billions off STI as inflation, rate concerns spook investors

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More