CCT To Buy CapitaLand Building For $1.165b

Source : The Straits Times, Mar 27, 2008

South-east Asia's largest developer CapitaLand said on Thursday that it has granted CapitaCommercial Trust (CCT) an option to buy the 1 George Street office building for $1.165 billion (US$844.2 million).

CapitaLand, which owns a 30-per cent stake in CCT, a Singapore-listed office property trust, said in a statement that it expects to recognise a $47.1 million gain from the sale. -- REUTERS