Source : TODAY, Friday, October 12, 2007
Property investment group Sing Holdings has sold a commercial building to Develica Asia Pacific for $63 million.
In a joint statement, Sing Holdings said it will book a net gain of about $15.9 million from the sale of the 10-storey EastGate building, which was purchased in the mid-1990s and has a net saleable area of 5,354 sq m.
Sing Holdings said it plans to use the proceeds of the sale for its residential property business.
The property will change hands on Dec 13.
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