CapitaLand is selling its entire 50 per cent stake in Hitachi Tower for S$404 million.
The developer said it will make a gain of S$110 million upon completion of the sale. Hitachi Tower is a 37-storey commercial building in Raffles Place.
The developer bought the office block in 2000.
In 2007, CapitaLand sold its 50 per cent stake in Chevron House for over S$366 million.
It has been taking advantage of the buoyant office property market to divest its interest in several commercial buildings. - CNA/vm
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