Robert Kuok’s Allgreen Properties nears deal to buy Singapore office block at 78 Shenton Way: sources
The PGIM-managed fund that owns the property is seen exiting at a loss
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[SINGAPORE] Allgreen Properties, part of Malaysian billionaire Robert Kuok’s Kuok Group, is said to be nearing a deal to buy 78 Shenton Way.
Market watchers expect the price to be in the low-S$600 million range.
Comprising two office towers, 78 Shenton Way has significant redevelopment potential under the Urban Redevelopment Authority’s (URA) Central Business District (CBD) Incentive Scheme.
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